Sleazy spruikers are taking advantage of property investors

Australia’s two peak property investment bodies have warned buyers to be on the lookout for shonky salespeople masquerading as independent professionals.

PIPA, which represents property investment professionals, and PICA, which represents mum-and-dad investors, said an increasing number of spruikers have started appearing.

“PIPA has heard of buyers being offered ‘cash back’ deals of tens of thousands of dollars to encourage them to buy inferior properties,” chairman Peter Koulizos said.

“Of course, the ‘cash’ isn’t real because it’s built into the sales price, so, in essence, buyers are paying for their own supposed windfalls.”

Before making a purchase, buyers should speak to a trusted mortgage broker. With our experience, we will have a good feel for what deals are and aren’t legitimate.