Property regulator targets ‘ghost bidding’ with new rules and fines

Estate agents will soon face fines of up to €250,000 if they breach new legally binding rules to immediately inform clients of conflicts of interest

17th November, 2019

Estate agents will soon face fines of up to €250,000 if they breach new legally binding rules to immediately inform clients of conflicts of interest.

They will also have to provide written receipts to would-be house purchasers when they make a bid, in an effort to stamp out ‘ghost bidders’. They will also have to comply with new legally binding timeframes for returning deposits to tenants, and returning records when a letting or house sale...

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