The Property Services Regulatory Authority has today announced the publication of its Annual Report for 2021. The report presents an overview of the activities and outputs of the Authority during 2021.
Remarking on the publication of the Annual Report, Mr. Michael Quinlan, Chairperson of the Board of the Authority, stated:
“The Authority remained committed to its mission of licensing and regulating Property Services Providers as well as advancing its strategic goals. Upon completion of a five year programme to complete sector audits which commenced in late 2016 and concluded in 2021, the Authority introduced a risk based matrix by which audits would be scheduled. The adoption of this matrix saw the accomplishment of a key strategic goal from the PSRA Strategic Plan 2020 – 2023.”
A central element of the Authority’s regulatory powers is the investigation of Property Services Providers (auctioneers, estate agents, letting agents and property management agents). In 2021, the Property Services Regulatory Authority continued to actively pursue investigations of improper conduct resulting in three cases where a major sanction of permanent revocation of their licence was imposed.
Further highlights and statistics of note in the 2021 Annual Report include:
- More than 1.64 million visitors to the Residential Property Price Register
- 5,752 licence applications (new, renewal and additional category) processed
- 500 audit investigations of Property Services Providers completed. Breaches were identified in 69 cases (14%) and minor sanctions imposed in these cases
- 243 complaint investigations against Property Service Providers concluded
- 449 Anti-Money Laundering audits completed by the Authority
Reflecting on the activity of the organisation during 2021, Ms. Maeve Hogan, Chief Executive Officer of the Authority noted:
During 2021 the Authority remained adaptive in the way that we conducted our work and was resilient in responding to challenges posed by the ongoing Covid-19 pandemic. Our commitment to our mission of licensing and regulating Property Services Providers continued and a significant highlight for the Authority during the year was the publication of our Code of Practice – ‘Property Services Providers – Delivering a Professional Service’. The positive ongoing contribution and engagement from Property Services Providers and all of our stakeholders is also much appreciated and valued.
The Annual Report for 2021 is available at www.psr.ie
ENDS