AKC News // Give exact sales price, auctioneers told

The Irish Auctioneers and Valuers Institute (IAVI) says its members will not now publish any sales figures other than the exact sale price achieved for any property.

The IAVI said terms such as 'region of', 'close to' or 'above' cannot be used. The IAVI and the Institute of Professional Auctioneers and Valuers met the National Consumer Agency this week.

Last weekend it emerged that Orna Mulcahy, the Irish Times' property editor, had written to estate agents, saying some house sale figures in her newspaper had been exaggerated by as much as 20%.

The IAVI said publication of the exact price required the consent of both buyers and sellers so only a small number of prices of properties sold would be made public unless there was a change in legislation.

The National Consumer Agency has welcomed the development, saying there is an onus on all auctioneers and newspapers to publish only correct prices.

The IAVI also said it would host a meeting to discuss this issue within the next few weeks, and would invite the relevant Government departments and consumer bodies.

Source: http://www.rte.ie/business/2008/0501/houses.html

Date : 01-05-2008