Real Estate Alliance

REAL ESTATE ALLIANCE RINGS IN CHANGE AT THIS YEARS AGM

Press Release

Real Estate Alliance reported today from the groups AGM, which took place in Killarney over the weekend, that 2004 has been a hugely success year for the group. This past twelve months has seen the group grow from strength to strength with a growth rate of 40% in the year.

The AGM was also an opportunity to welcome a total of six new members to the national property group. While the summer months are often presumed to be a quiet time for estate agents this summer proved to be the busiest yet for Real Estate Alliance as they welcomed new members from Cavan, Leitrim, Monaghan, Laois and Tipperary and Dublin.

Another change at Real Estate Alliance is the announcement of the incoming Real Estate Alliance Chairman. This years' role is being filled by Philip Farrell, from Brophy Farrell Real Estate Alliance in Newbridge, Co Kildare. Phillip, a full IAVI member, has been a director of Brophy Farrell Real Estate Alliance since 1988.

The 'hot topic' on everybody's lips at the AGM was the subject of the impending regulation body for the real estate and auctioneering industry. All members are in agreement that it is crucial that drastic changes come into play in the regulation of the industry as soon as possible. Currently, the District Court awards licences to be an Auctioneer & Valuer with a bond of �12, 700, the only other requirement being an accountant's certificate of solvency.

At his inaugural speech as group Chairman, Mr Farrell commented; "Real Estate Alliance deplore the fact that licenses are being awarded to people with no qualifications or formal training. We are fully supporting the setting up of the Government Commission to examine the regulation of the industry. Our members (as members of the IAVI and SCS) are contributing suggestions on the topics being put forward for discussion by the commission. It is our recommendation that every registered property professional must have completed a recognised property degree course at a third level institution and have a minimum of three years experience in the industry. Further criteria will need to be established to ensure correct regulation of the industry however, ensuring all those practising in the industry, are fully qualified professionals will be a positive first step".

Eimer O'Keeffe, CEO of Real Estate Alliance, commented on a successful year for Real Estate Alliance; "since our inception in May 2003 we have grown rapidly to a total of 46 member offices nationwide. This huge growth has meant we now have members in an even greater spread nationwide with many new locations including Mayo, Sligo, Cavan, Leitrim, Roscommon, Monaghan and Longford. This increase in geographical spread across the country consolidates our aim of providing highly qualified local expertise on a national level".

She continued; "All in all we are delighted with a hugely successful year for Real Estate Alliance with group turnover for 2003 increasing by 12% to an impressive �2.8billion. We look forward to another successful year this year when Real Estate Alliance will continue to lead the way and set standards for the industry".

The minimum standard of membership to Real Estate Alliance is membership of the IAVI or S.C.S. 79% of the groups staff members involved in sales are full members of the IAVI/S.C.S. and the remainder are either Associate Members or in the process of finalising their qualifications.

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For further details please contact Kirsten Connolly, Plunkett Communications on 01 662 0335 or email kirsten@plunkettcommunications.com

New Members of Real Estate Alliance

• Donohoe Real Estate Alliance, 29 Bridge St, Cavan, Co Cavan
• Donohoe Real Estate Alliance, Main St, Carrigallen, Co Leitrim
• O'Hanlon Real Estate Alliance, 1 Farney St, Carrickmacross, Co Monaghan
• McDonald Bros Real Estate Alliance, 2 the Mall, Lucan, Co. Dublin
• Eoin Dillon Real Estate Alliance, 48 Kenyon Street, Nenagh, Co. Tipperary
• Peavoy Real Estate Alliance, Main Street, Portlaoise, Co. Laoise.

Board Members

• Phillip Farrell, Brophy Farrell Real Estate Alliance, Newbridge, Co. Kildare
• Eddie Barrett, North's Real Estate Alliance, Tralee, Co. Kerry
• Aine Myler, Cumisky Real Estate Alliance, Ballbriggan, Co. Dublin
• John Dawson, Dawson Real Estate Alliance, Tullow, Co. Carlow.
• Willie Coonan, Coonan Real Estate Alliance, Maynooth & Celbridge, Co. Kildare
• Michael Gavigan, T&J Gavigan Real Estate Alliance, Navan, Co. Meath
• PG Grimes, Grimes Real Estate Alliance, Ashbourne, Co. Meath
• Healy Hynes, Hynes Real Estate Alliance, Athlone, Co. Westmeath
• John Kerr, Kerr Real Estate Alliance, Clonakility, Co. Cork
• Thomas Potterton, TE. Potterton Real Estate Alliance, Trim, Co. Meath
• Jim Flynn, Flynn & Associates Real Estate Alliance, Castleknock, Dublin 15

NOTE TO EDITORS

Real Estate Alliance is a strategic marketing alliance comprising some of the country's best-established auctioneers and estate agents. Real Estate Alliance's 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 Real Estate Alliance 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 - Real Estate Alliance 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, Real Estate Alliance 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. Real Estate Alliance 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 46 offices located nationwide, Real Estate Alliance member firms can provide the best real estate advice locally and nationwide.

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.