Oireachtas Joint and Select Committees
Wednesday, 13 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour)
Link to this: Individually | In context | 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?