Property Services Regulatory Authority (PSRA) provide licences for property services - to auctioneers, estate agents, letting agents and management agents. Only those agents who are licensed by the PSRA can provide property services to another person. Every person who provides property services in the State, in respect of property located within or outside the State, needs to be licensed (subject to some limited exemptions). This includes Companies, Partnerships, and Sole Traders, together with their Principal Officers and Employees who provide property services, as well as Independent Contractors. It is necessary therefore for each Company and Partnership to hold a licence and for each Principal Officer and Employee of the Company or Partnership, who is engaged in the provision of property services, to hold licences. Similarly it will be necessary for a Sole Trader to hold a licence and for each of his/her Employees, who are engaged in the provision of property services, to hold licences. The PSRA licensing system has a number of consumer protections, including - * Licensees are required to have professional indemnity insurance * Annual reporting to the PSRA by an independent accountant on the safekeeping of client money * Compensation Fund to make good on financial losses caused by the dishonesty of a licensee * Access to the Authority's complaints/investigation system into allegations of improper conduct by a licensee For more information, please see PSR.ie. Content courtesy of the Property Services Regulatory Authority.