Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

Now, as I understand it, the practice at the time, it may not be the practice anymore, but the practice at the time was, is that the auctioneer at the estate agent selling the house would set their fee on a percentage of the sale value. So let's say if I was selling my house for €100,000, the auctioneer, the estate agent would get 2% of that, which would be €2,000 and if my house sold for €200,000, they would get 2% or 3% of that, which would be twice the sum. Was that the practice then and does that still remain the practice now?

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