CR Magazine – Autumn 2018
The official publication of the Chicago Association of REALTORS®.
The official publication of the Chicago Association of REALTORS®.
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Global Real Estate Council<br />
Doing Business with<br />
IRELAND<br />
Ireland <strong>–</strong> land of abundant<br />
music, pubs and craic (enjoyable<br />
conversation, of course!). We<br />
welcomed Brian Dempsey,<br />
president of the Institute of<br />
Professional Auctioneers and<br />
Valuers (IPAV) <strong>–</strong> aka, Ireland’s own real estate<br />
association <strong>–</strong> to share a few of the reasons why<br />
you should consider doing business with the Irish!<br />
Q: What is the most important aspect about real estate in Ireland?<br />
A: With a population of 4.8 million and only 4,600 licensed<br />
real estate agents on the island, Ireland is a great place to buy<br />
property but can have its headaches. In some cases property<br />
values have increased twenty-fold over the past three decades;<br />
with this comes the turmoil of buying in a market that is always<br />
increasing or decreasing — it never appears to flatline either at the<br />
top or bottom. For instance a property which was worth €250,000<br />
in 2000 fell in value in 2001, but increased year over year through<br />
to late 2006 to approximately €750,000, in some instances. By<br />
2012, that same property was potentially worth around €250,000<br />
again, so Ireland isn’t exempt from international troubles or the<br />
underhanded actions of some of those who let things get way out<br />
of hand beyond their legal remit.<br />
We always recommend you research your purchase and above all<br />
consider its Location, Location, Location.<br />
Q: How can Chicago REALTORS ® work with real estate investors<br />
in Ireland?<br />
A: I think we can all see the world is getting smaller, connectivity<br />
to each other is in real time and the power of social media<br />
& applications such as Skype assist us in communicating<br />
consistently at a low or non-existent cost.<br />
With no MLS here, the formalities of referral are unchartered;<br />
however, I am currently working in conjunction with various<br />
organizations to put in place a vehicle which will enable us to work<br />
Brian Dempsey tours Chicago with Genie Birch,<br />
Century 21 Affiliated, and Maurice Hampton,<br />
Centered | RCG.<br />
Brian Dempsey shares his insights with the Global Real Estate Council.<br />
Maurice Hampton, Centered | RCG, with Brian<br />
Dempsey.<br />
36 Chicago REALTOR ® <strong>Magazine</strong>
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