An anonymous Melbourne broker has told a media outlet developers are enticing brokers with "unethical" referral fees.
A Sydney Morning Herald piece
has claimed mortgage brokers are being paid $10,000 or more for passing leads to property developers. A broker from inner Melbourne, speaking to the news outlet on condition of anonymity, claimed he was offered $20,000 per referral by a developer.
The piece said the broker turned down the offer, regarding it as unethical. But the SMH piece has claimed that consumers should be wary of brokers talking up the investment potential of properties.
"Buying a property is a big transaction and being steered to a particular developer by someone who receives a kickback has to be treated with scepticism," the Herald said.
While the piece particularly targets brokers, the Herald warned that developers could pay "kickbacks" to any introducer, "be it mortgage brokers, SMSF
advisers, financial advisers, accountants or real estate agents".
Have you been approached by developers offering referral fees? Are referral fees from developers fair game, or ethically questionable? Have your say in the comments below.