Real Estate Alliance
REA feeling the BRRRR to BER
The new energy rating scheme has received frosty reaction from most vendors, according to the national property group, Real Estate Alliance. In a market where they have already seen their house value drop significantly, the requirement of having a Building Energy Rating certificate simply adds further to their woes.
“With surveys costing approximately €300, it is very understandable that vendors don’t want to commit to having a certificate carried out until there is a greater hope of a sale”, according to Paul G.Grimes, Chairman of Real Estate Alliance.
Real Estate Alliance agents are finding that Purchasers do not seem that interested if the house has a BER certificate either. “Ironically there is no great demand from the public. It is not a frequently asked question by intending purchasers. Purchasers are much more interested in normal issues like the appearance of house, the condition of the property both structurally and decoratively, location or quality of estate, proximity to facilities and value for money. BER comes even further down the list”, according to Harry Sothern of Sothern Real Estate Alliance in Carlow.
Mr. Harry Sothern also stated that “as there is clearly no real appetite amongst purchasers for knowing buildings energy ratings, we wonder is there a requirement for BER in the first place. I assume this EU directive was launched in the hope that vendors with low ratings may seek to improve their insulation in order to gain a better rating and as a consequence perhaps a better price whilst in the meantime saving fuel. Sounds fine but clearly the Irish haven’t bought in”.
Mick Boyd, Vice Chairman of Real Estate Alliance concluded that “the BER requirements have been met with thundering silence from all participants in the market. Vendors do not want the cost, buyers do not care for it just now and the legions of assessors are very angry and disillusioned with the dismal take up of the scheme." Mr Boyd predicts the SEI will start policing the role out of BER to enforce the take-up.
ENDS
NOTE TO EDITORS
Real Estate Alliance is a strategic marketing alliance comprising some of the country�s best-established auctioneers and estate agents. Our key focus is on locally-owned and established estate agents. With one quarter of the alliance�s firms in business for more than a century, and with an existing IAVI president & five IAVI past presidents among the group�s members, the alliance is characterised by the established strength of its membership. In addition, membership is only open to firms led by members of the Irish Auctioneers & Valuers Institute or the Society of Chartered Surveyors.
Clients of REA members benefit from:
Real Advice
- Because member firms are locally-rooted and independently owned, they have first-hand market knowledge that ensures clients make only the best-informed real estate decisions.
Real Commitment
- Member firms are well established, leading local businesses built on delivering the best results for their clients.
Real Service
- Our member firms have the detailed understanding of the local property issues facing clients to ensure that they provide a superior range of client services.
Real Professionalism
- As Ireland\'s highest-qualified property professionals, REA sales staff are members of the IAVI or the SCS, the representative bodies for Ireland\'s top property professionals.
Real Confidence
- IAVI members complete far more property transactions than any other professional group. Our member firms harness this transaction volume to seize opportunities and speed the transaction process for you.
Real Coverage
- With more than 400 professional staff in 40 offices located nationwide, our member firms can provide the best real estate advice locally and nationwide.
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