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Consumer regulators launch national spruiker campaign

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Australian Broker | 25 May 2016, 07:00 AM Agree 0
Consumer regulators have launched a national campaign to warn property investors about property spruikers - and brokers have a responsibility too
  • Wayne McPhee | 31 May 2016, 12:58 PM Agree 0
    When are the regulators going to stop issuing endless warnings and do something? The property investment industry is an unregulated space transacting multi billions of dollars in sales each year. It is so easy for someone to avoid the various state acts and set up an investment property marketing business. Do not sign listing documents, sign a marketing agreement with the developer. Do not take deposits have them deposited to a solicitors trust account. Do not advertise an address of a property instead market general concepts or education seminars instead. Do not employ anyone with an education as no qualifications are required.

    Done, no licence required, you are now an investment property marketer. I am not an advocate of government regulations ordinarily but this industry has shown that it is incapable of self regulation.
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