Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

INVESTIGATION: United we stand

Notify me of new replies via email
Australian Broker | 10 Aug 2011, 06:00 AM Agree 0
Australian Broker has in recent days reported on its investigation into Mark Whittingham and Buy A Trail, but the industry has issued repeated warnings to its members to beware when purchasing trail books
  • SteveMc | 10 Aug 2011, 01:42 PM Agree 0
    Even if the middle person offering the sale is scrupulous, just the nature of trail sales should sound the sirens at tsunamic levels. Assume toxic proportions of poor attention to the borrower by the vendor, created by apathy, disinterest and probably inefficiency and negligence of service and compliance. If there are any clients of notable worth in the book, then you should assume that client has been data mined, either elsewhere because of that inattention, or even by the vendor. Recourse may be significantly harder and more time costly than you realise.

    Why the caution, apart from the vendor has significant interest? There is no way that any vendor of a well structured and cared for book, would place it on the market in this manner. Any connected broker has unlimited opportunity to sell to another professional that recognises the vendor's ethics and book quality. No prudent buyer would pay reasonable funds for a book on which they have no idea of the background.

    Sure, there's a market for anything, but especially in today's environment, only pay what a dud can fetch in the market. If you want to pay reasonable price for a quality book, ask yourself "how (maybe even why) would I sell a quality book?" Doesn't sound like Whittingham's the answer.
  • Peter | 07 Nov 2012, 09:42 AM Agree 0
    But wait , where did Mark get his prospects from , was it a database supplied by an association??? where is the anti spam act in all of this... if this was monitored where could he deliver his offer apart from Spam.. was'nt the anit spam act supposed to stop all this... and if it was monitored could it have been stopped in its tracks... did he use email spam to get all of his victims...mmmm I wonder..maybe Im just a dumb broker working out of my bedroom...
Post a reply