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    Prime Time last night

    Anybody watch it? The relationship between the estate agents and the mortgage brokers in the case investigated was quite disturbing. Maybe people were aware this was going on, maybe I'm naive but to think that financial information I give a mortgage broker will be passed onto an estate agent without my permission with a view to screwing a few more grand out of me is disgraceful. The stuff about the false bids etc. was less of a surprise though.
    Grandpa Simpson: The last time the meteors came, we thought the sky was on fire. Naturally, we blamed the Irish. We hanged more \'n a few.

    #2
    I'd heard of this before, the bbc had a report on the practice in the UK as well. The act is aparently quite common with many estate agents knowing exactly how much they can whittle out of you from the starting offer [img]smileys/mad.gif[/img]

    Comment


      #3
      <DIV>I can't think of another industry where so much money changes hands with the important go-between, not having to have any educational/professional qualifications.</DIV>
      <DIV></DIV>
      <DIV></DIV>
      The Beatings Will Continue Until Morale Improves

      Comment


        #4
        The whole industry is riddled with chancers. System of buying and selling property needs a drastic overhaul. Better late than never i suppose.[img]smileys/sad.gif[/img]

        Comment


          #5


          Just to frighten you all a bit more!





          THE scene: the Ross homestead, Sunday - just six weeks ago.


          "Time you had a career change," says she sighing, after reading my Sunday column.


          "Maybe I could complete my solicitor's exams which I abandoned 33 years ago?" I plead lamely.


          "Don't fool yourself. It would take years. And you would fail the exams," says she helpfully.


          "Well, maybe I could be a barrister then?" says I.


          "At the age of 57? Vincent Browne was the last barrister I know with a late vocation. Do you really want to turn out like him? Anyway you wouldn't earn a penny for five years. You would skip all the lectures," says she scornfully. "And you would fail the exams."


          "How about medicine? I always wanted to be a doctor."


          "You'll be dead and buried before you qualify. And you would fail the exams," says she.


          "Could I return to stockbroking?"


          "No stockbroker would touch you with a bargepole, after all you said about them. Anyway, you were brutal at it," says she. "I think you are unemployable."


          Suddenly she has an inspiration. "Why not be an auctioneer? You could earn a fortune for doing eff-all. You were a parasite when you were a broker, so you could happily be a parasite again."


          "Come on," I protest. "I'll never qualify before the housing boom ends. Money for jam is a great idea, but it will surely take years to gain a licence to practise as an estate agent?


          "Anyway, as you said yourself, I would skip the lectures, fail the exams and probably be senile before I had served out my apprenticeship. It could be a decade before I am up and running. How long do you think it would take?"


          "About 20 minutes," says she.


          That is the tale of how I decided to test the hurdles in the way of a career as an auctioneer.


          So, five weeks ago, I put an ad in the Bray People stating that "Sean de Rossa" was applying for an auctioneering licence. Then I picked up my tax clearance certificate and filled in the application form.


          That was the apprenticeship.


          Three weeks ago a Garda called to our house and checked up on my bona fides.


          That was the interview.


          Ten days ago I headed for the District Court in Bray armed only with a tax clearance certificate, a bond of €12,700 and a solicitor.


          The solicitor put me in the box. He asked in open court whether I intended to practise under the Irish version of my name. Which I do.


          Anxious to emphasise my property credentials, I volunteered truthfully that I had advised on all sorts of investment including property bonds when I was a stockbroker and that I was director of an investment trust with interests in Irish property.


          The judge asked the Gardai if they had any objection. They had none. He then wished me well in my venture and certified me as qualifying as a fit person under the Acts.


          That was the exam.


          The judge had little option as I fulfilled the undemanding requirements of the law.


          The grounds for refusal are bankruptcy, infancy, previous disqualification or suspension and a general clause that the applicant is not "a fit and proper person".


          Today, six weeks after I set out, I am a fully licensed auctioneer. Off I go to plunder and pillage inthe property jungle among thecowboys.


          Today I can advertise as an auctioneer; I can buy and sell houses for commission; I can advise on guide prices; I can conduct auctions galore; I can gazump until the cows come home. Best of all, I can take in buckets of money from a gullible public. I am not subject to the prying inspections of the Financial Regulator, the Central Bank, any fig-leaf of an auctioneer's body - or anyone else.


          I have never bought or sold a property as an agent in my life. I have never formally studied property valuations. I am a bookkeeper's nightmare. I have never done a
          Please support Milford Hospice. Click here to donate.

          Comment


            #6

            The management company issue has seen some new developments today. From the RTE website.





            @@@@SPAN style="font-size: 18pt; font-family: Arial; color: rgb(102, 51, 0);" lang="EN-US">Corporateregulator warns about property firms@@@@/SPAN>@@@@SPAN style="font-size: 7.5pt; font-family: Arial;" lang="EN-US">



            12 December 2006 12:26@@@@/SPAN>@@@@SPAN style=""><o></o>@@@@/SPAN>

            <rte:></rte:>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Thousands of apartment
            owners risk losing millions on the value of their property if deficiencies in
            the operation of property management companies are not addressed, according to
            the Director Corporate Enforcement. @@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Launching a consultation
            paper on the governance of property companies, Paul Appleby said that so far
            this year his agency has received 19 complaints about such firms - up from 11
            last year. @@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">However, he said he
            believed this was just the tip of the iceberg.<o></o>@@@@/SPAN>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">RTÉ's Prime Time
            Investigates programme last night pointed out that 75 management companies are
            awaiting strike off from the Register of Companies for failing to file
            accounts.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Mr Appleby said that if
            properties are not adequately maintained because of disputes over management
            services they can become dilapidated and lose value.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">In some instances
            disputes involving management companies had even left owners unable to sell
            their properties.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">The Office of the
            Director of Corporate Enforcement is inviting submissions on the consultation
            paper by 30 March with a view to tightening up the rules on the operation of
            management companies.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Separately, the Data
            Protection Commissioner, Billy Hawkes, has been meeting with representatives of
            the mortgage industry after the programme identified questionable practices
            among estate agents and mortgage brokers.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Undercover footage showed
            some selling agents inventing ghost buyers to boost bids for properties on the
            market.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">A Dublin-based auctioneer
            and a mortgage company were shown to illegally share financial details of
            potential buyers.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Speaking on RTÉ Radio's
            Today with Pat Kenny, Mr Hawkes said the mortgage industry representatives had
            agreed to work on a programme of information for their members.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">He said that the
            programme would ensure that brokers understood their obligations under data
            protection legislation so that dubious practice would not happen in the future.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">Earlier, the chief executive
            of the Independent Mortgage Advisers Federationdescribed the programme as
            shocking.@@@@/SPAN><o></o>



            @@@@SPAN style="font-size: 10pt; font-family: Verdana;">However, speaking on RTÉ
            Radio's Morning Ireland, Michael Dowling said however that he did not believe
            such practices were widespread.<o></o>@@@@/SPAN>



            Grandpa Simpson: The last time the meteors came, we thought the sky was on fire. Naturally, we blamed the Irish. We hanged more \'n a few.

            Comment


              #7


              Closing stable doors after the horses have well and truly scarpered...


              I smell another tribunal.
              The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man - George Bernard Shaw


              Comment


                #8


                Good Prime-Time programme/investigation, although their methods were (nearly) as devious as some of the parties involved.


                However,the real issue is that property prices are about twice what they should be. But no need to get worried yetif you are using your €1M 3 bed semi as collateral for some mad scheme - it's not going to be 'worth' €1/2M overnight. Not because the real value is really €200k (100k to build; €30k for various fees and taxes, €70 for the land). No Siree. It's because it's in all*involved parties interest to keep the 'Price' as high as possible - because they all take a cut, and the cut gets BIGGER proportionally as the price goes up.


                It's the original pyramid scheme - with the little guy at the bottom keeping the ever-growing monster fed. However if enough of the baselines (i.e. first-time buyers/mortgage holders) quit or decline to play the game any longer the game will end. And the pyramid collapses. It won't collapse while we have the soldiers of destiny (1 &amp; 2)in charge though - they'll continue to nurture their golden goose.


                * Government, Banks/Financial institutions, Legal Profession, Auctioneers/Estate Agents, in that order- all have an immediate and overriding interest in keeping this wheeze going as long as possible. Only the poor buyer pays everyone.





                Comment


                  #9
                  False bidding is the oldest trick in the book, its just that the crazy Irish property boom really facilitated the practice.

                  Comment


                    #10
                    There'sa reportnow on prime time investigates, rte1on Doctor Michael Shine and the children he abused over many years

                    Comment


                      #11
                      Listening to it[img]smileys/smiley38.gif[/img]
                      Excellence is hard to keep quite - Sherrie Coale

                      Comment


                        #12


                        Originally posted by McCloud
                        Listening to it[img]smileys/smiley38.gif[/img]

                        A vile, vile man. He still has access to children I think..

                        Comment


                          #13
                          dr rory o hanlon,"go home you silly little boy you dont know what youre talking about"[img]smileys/sad.gif[/img][img]smileys/sad.gif[/img]

                          Comment


                            #14


                            irishexaminer.com


                            Rape Crisis Network renews call for Shine inquiry
                            Tuesday, June 09, 2009 - 10:35 AM


                            The Rape Crisis Network Ireland is renewing its call for a full independent inquiry into the Michael Shine affair.


                            The former hospital consultant in Co Louth was struck off by the Medical Council after an investigation into allegations that he had sexually abused young male patients over a 30-year period.


                            The Medical Council's decision followed an earlier court case which acquitted Mr Shine.


                            More than 100 people subsequently made complaints of misconduct against him.


                            The Rape Crisis Network says many questions remain unanswered in relation to the case and a full inquiry is needed to establish the facts.
                            Excellence is hard to keep quite - Sherrie Coale

                            Comment


                              #15





                              A link to Monday's episode of Prime Time Investigates:


                              http://www.rte.ie/news/2009/0608/pri...stigates_av.ht ml?2558746,null,230





                              A victim's story 12/06/09


                              http://www.irishtimes.com/newspaper/...09/0612/122424 8688331.html


                              Comment

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