Sir, – Fiona Reddan’s article (Residential Property, November 22nd) is perhaps a little unfair.
While she admits that her own experience as a house hunter is that she has dealt with “a largely professional bunch”, much of the rest of Fiona Reddan’s article perpetrates myths and cynicism.
Granted not all auctioneers and estate agents are wonderful, law abiding, ethically motivated people. But then, neither are all journalists, business people, economists, politicians or public servants. On the whole, however, my experience of our competitors is that they are a reflection of Irish society – basically a reasonable bunch of people, doing their best in what is a pressurised job.
Estate agency is about moderating human behaviour. It is all about helping a vendor and a purchaser reach agreement in what is a very stressful transaction.
Estate agents are associated with selling houses, but they also buy houses for clients. Whatever the mandate is, your duty is to do your best. Sell for the most money, buy for the least money. There are ethics involved. It’s not just about the law and whether something is allowed or not allowed. It is also about what is right or wrong. A vendor pushing for the maximum price can be a purchaser pushing for the minimum price the next week. Trying to buy for the least, in a declining market, from a vendor under pressure is exactly the same human characteristic as a vendor in a recovering market trying to sell for the most. People are just trying to do the best for themselves and their family.
Obviously there have been low standards in business and in property and it is right and fitting that journalists hold people and sectors to account. Ireland needs a functional property market that remains fair and competitive, To get things right, we need more information, more evidential data and more analysis of same. The recently established Property Services Regulatory Authority is a welcome development as is the Property Price Register.
God knows, Ireland has had a difficult decade. Let’s now grasp the opportunity for social and economic recovery. This can’t happen without a functional property market. For this to happen, the country requires a strategic plan for the Irish property sector, including private, public and social housing – not just for the next five years but for the next 20 years. – Yours, etc,