Commenting on the IAVI’s recent role in the Revenue Commissioners’ efforts to access member files in order to identify Irish buyers of foreign property, Carey said that “the IAVI was concerned that its members may be exposed to civil action for handing over confidential information, which the Revenue Commissioners were not legally entitled to receive in the manner sought.  He said that, “banks have suffered for relying on similar assurances from Revenue in respect of its powers. The IAVI encourages tax compliance but will always insist that the State, in seeking information, must itself act legally”.

While recognising the relief given to hard-pressed homebuyers by way of stamp duty adjustments in last year’s Budget, Carey urged the incoming Minister of Finance to finish the job and adjust transfer taxes, which represent a major impediment to mobility and the efficient use of property stock. 

“The whole economy benefits from a buoyant but sustainable property market and there is a need to retain Irish investment at home and to encourage inward investment. The current commercial property stamp duty rate of nine per cent merely drives investment abroad at a time when our economy could benefit from internal investment.”

Carey spoke about the changed business climate in which IAVI members operate and said that the time has come to sort out the trained professionals, for whom property is a genuine career, from those who perceived the boom market as a way to make a fast buck. 

He called on those who manage estate agencies to “ensure that staff are imbued with a sense of customer service and that agents need to recover the win-win philosophy that brought success before the boom years”.                        

In addition, Carey expressed relief that the Bill to establish the National Property Services Regulatory Authority is included in the legislation to be addressed by the Oireachtas in the current Dáil session. 

“The IAVI has actively sought the establishment of such an authority since 1931, when we proposed in a Private Member’s Bill that (IAVI) would merge into a State Authority with mandatory education and registration for all agents.  It seems that, 77 years later, State thinking has caught up with that IAVI foresight and we welcome this move to established such an Authority.” 

“Although IAVI members are professionally qualified, are required to engage with Continuing Professional Development, hold licences from the courts, produce tax clearance certificates and maintain Professional Indemnity Insurance, we have had to compete with those who simply put a sign up outside a house and call themselves auctioneers.” 

Carey explained that the Institute does not seek close shop but it feels that the public deserves a trained, professional service.  

“Those who offer advice on property should have a proven knowledge and competence in the subjects of valuation methodologies, all relevant aspects of law, town planning, building construction, land use economics and the other diverse topics put into everyday effect by IAVI practitioners.  We want anyone who offers an estate agency service, of whatever nature, without a licence, to be detected and prosecuted.”