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Regulators crack down on property spruikers

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Julia Corderoy | 03 Aug 2015, 08:11 AM Agree 0
Property spruikers have been put on notice by regulators, as the NSW Department of Fair Trading warns promoters of property investment schemes to operate legally or face sanctions
  • Trev | 03 Aug 2015, 10:41 AM Agree 0
    About time. Go get 'em Rod.
  • Kym | 03 Aug 2015, 03:11 PM Agree 0
    You should have closed this lot down years ago - too many people have been misled and now own properties they wish they had never purchased when they find out they paid way too much due to the hidden commissions paid to them by the developer to sell them. The spruikers make way too many false claims - ie out of every 20 investment opportunities they reject 19!!!!! Where will the high pressure sales people be when it all hits the fan!!!!!!!!!!!!!!!!!!!!!!!!!!
  • Kylie | 06 Aug 2015, 05:41 AM Agree 0
    Real estate agents and property developers should come under the same ASIC governance as financial planners. They are giving investment advice. After all more of the population invest in property than shares and invest more of their savings in property than shares.
  • Papery | 06 Aug 2015, 09:21 AM Agree 0
    Absolutely @Kylie....
    This is the crowd that need regulation & investigation....inflated rental returns, speculative growth assumptions, dodgy 'tax' advice, speculation/advice on industry conditions, the list goes on. As a Broker I cant & wont give an opinion as to whether any particular property is a good investment or not....but the spruikers do & when it all goes belly up, its the Broker who has to account for suitability & supposed bad advice.
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