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Property spruikers beware – the crackdown is coming

Posted by Paul Wilson

Property ‘spruikers’ have become synonymous with the dark side of the property industry.

They reflect poorly on those businesses genuinely seeking to help clients use property investment as a wealth creation vehicle.

You know the types – big glossy ads plastered with questionable marketing messages promising too much too soon.

And ‘free’ seminars where get-rich-quick messages are peddled and unsuspecting buyers have underperforming properties shoved in their faces available for a short time only.

These “act immediately or delay at your peril” operators only serve to line their own pockets at the expense of yours.

At We Find Houses we’ve come face-to-face with this end of the industry via clients that have almost been hoodwinked but who fortunately also took the wise step of conducting due diligence on the company/individual they are aligning themselves with.

They tell similar stories of poor advice, high-pressure sales tactics, doom and gloom prophecies - all without any substantiation. 

They sometimes wonder why We Find Houses doesn’t offer the same ‘jackpot’ returns as the competition and there is a reason for this – often if it sounds to good to be true, it is.

I explain that spruikers aren’t our competition and that their ‘jackpot’ returns are based on flawed or inaccurate data and will never materialise. In fact you’ll be worse off, while the shonks pocket your money.

Once I am able to demonstrate that We Find Houses clients are not pushed in any predetermined direction, that whatever investment strategy they apply will be designed 100% on their individual circumstances and that our expertise and proven investment strategies are aligned with their individual strategy - they get it – and thank me for opening their eyes to all the possibilities and opportunities available to them. 

The most important factor to consider when seeking the advice of a “property expert” is to ensure that they are in fact, an expert.  

How long have they been in the industry, are they Certified Property Investment Advisers, do they have recognition from relevant industry bodies and a proven track record? If the answer to any of these questions is no, then you need to keep searching.

Consumer regulators in Australia have launched a national video campaign to warn people against spruikers pushing their ‘get-rich-quick’ message.

The national campaign is backed by ASIC and Consumer Protection WA and seeks to educate people on ‘spruiker’ tactics such as rent-to-buy housing deals.

Others provide unlicensed advice on financial, credit and real estate matters - all crucial things that require expert analysis specific to each buyer’s position.

Unscrupulous operators are being put on notice, which is important in an industry clouded with so much white noise.

All property professionals must comply with consumer law. We Find Houses proudly goes beyond current consumer law to provide our clients with the absolute best advice and service.

I strongly support this spotlight being shone on the poor practices and fly-by-night operators who have hastily set up shop to capitalise on unsuspecting investors and who will disappear just as quickly under the impending scrutiny.  

I believe that investors need to be made aware of the dangers of engaging with unscrupulous operators skirting the law, polluting the market and – frankly – ripping off buyers.

The good news is that – regardless of the scammers – smart property investment is the statistically strongest investment class we have.

We Find Houses has over 15 years experience and a proven track record of helping investors achieve the financial goals.

As the founder and director of this company I am a Certified Property Investment Adviser with over 20 years industry experience, accreditation and an extensive personal portfolio. I not only talk the talk, I walk the walk.

If you want some help building a solid, well-performing investment portfolio that will truly prove successful, get in touch.

Call 1800 600 890 or email to get started.

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