THE IMPACT OF REGULATION ON

THE PROPERTY SERVICES SECTOR

IN IRELAND

Dr. Róisín Murphy

1

2 Regulation

Context

Conclusions &

Recommendations

Effectiveness of PSRA3

4

Licensing Standards Complaint Handling

Registers Compensation Fund

Efficient Organisation

Government:

Market Intervention

Property Services Sector:

Industry Conditions

Impact of Regulation on Property Service Providers

5,860

25%

1,207

Nationwide

Professional body

803

987 1010

384

A Licence B Licence C Licence D Licence

Respondent Profile

General interest in property

Family Business

3%

5%

7%

22%

19%

44%

1 - 3 years

4 -6 years

7 - 10 years

11 - 15 years

16 - 20 years

21+ years

82%

27%

3%

57%

PSPs do not need to

be regulated

Sector is over regulated

PSPs need to be

regulated

Current level of regulation

is appropriate

Regulation

Perception of the need for and current level of regulation

Benefits of Regulation

Enhanced reputation

of the property sector

More information for

consumers

Professionalism in the

property sector

Less corruption /

more transparency

1 2

3 4

Benefits of Regulation

91%

58%

9%

54%

Online system is

difficult

Advice provided by

PSRA is relevant

Online renewal

process is effective

Advice provided by

PSRA is clear

Licensing Process and Advice

Perception of the licensing process and advice provided by the PSRA

Education and CPD

67%: read PSRA publications

80%: consider employing an apprentice

74%: PSRA CPD effective

52%: min. level of education attainment is appropriate

Business Audit

70% of respondent

businesses audited

75% found the

process valuable

Effectiveness of PSRA

99% 87% 75% 79% 82%

Familiar with the

role of the

Authority

Authority is a

positive

development for

PSPs

Benefit to using

PSRA’s logo

Benefit from

additional

publications

PSRA is fulfilling

its statutory

remit

Challenges Remain

Letters of engagement

Recruitment of qualified

staff

Appropriateness of extent

of regulation for all

property services

Awareness of range of

services provided by PSP

1 2

3 4

Challenges

Additional Considerations

Housing shortage1

Brexit3

Information Technology4

Staff availability2

Recommendations

AwarenessLicence

CategoriesEducation Apprenticeship

Support for Small Business

Code of Conduct

Publications

.

75% - Audited businesses

found it valuable

36% - Brexit

negative

82% - PSPs need

to be regulated

.

87% - PSRA a positive

development

91% - Online

licensing

effective

67% - Client

management

software

74% - CPD

beneficial

79% - Benefit from

additional

publications

52% - Educational

attainment required

is appropriate

70% -

Audited

68% -

Prof. Body

80% - consider

employing an

apprentice