New Property Scam Advice Needs To Go Further

Property Club welcomes new information on Australian Consumer Law website warning people to be wary of property scams.

Founder Kevin Young said it is an important warning as there are so many property investment programs offering people the world.

“Regardless of who or what is offering the information, the most important thing people should do is their homework,” he said.

“Quite often these ‘wealth creation’ seminars are run by licensed real estate agents who are only interested in selling properties.

“The Australian Consumer Law site’s warning is timely because the volume of these often free events are growing.”

Property Club has been providing education and information to people for over 20 years.

Young said Property Club does charge a small amount for its workshops ($35) but there are no other charges. “There are no surprises fees or charges – it is free today, free tomorrow, free forever. After the initial workshop charge, all assistance and guidance we provide is free,” he said.

“When you are looking at property investment as a wealth creation option, you have to make sure you are not pressured into sales and that the promoter is not offering the world.”

Over the past two decades, Young said he has seen some dodgy practices that gives everyone in the industry a bad name.

“Our goal is to help the investor get all the information they need – we do not offer finance; we do not offer a one size fits all property development – what we do is education,” he said.

“We want to make sure the buyer has all they need to make an informed decision."

“That is why this information is timely."

But Young believes the advice should go further. “The people running these events should provide written proof that they have done what they are teaching. There should be an onus on the event to put that it writing.

“If you are looking to use one of these services, you should know if they have actually done what they are saying.

“It is far too easy to read a few books or gather information from the internet …and then you are the next big expert.”

This written advice should include: if the presenters own properties or shares, have a wealth portfolio, their experience and testimonials from past clients.

“This way spruikers would be unmasked quickly and those not telling the truth would be convicted on this written proof,” Young said.

“Legislation should be introduced to enforce these protective steps. Property Club has been following these self-enforced steps for 22 years.

“Yet every time we propose this at all levels, we get howled down by licensed agents. Why?”

www.propertyclub.com.au