‘We’re not all Spruikers,’ claims Property Investment Advisor
Property investment professionals expressed concern when a recent WA government consumer watchdog warned consumers against dodgy property investment and wealth creation seminars by ‘spruikers.’
According to property investment advisors, the state government’s warning did not specifically address or name any particular company or group promoting these types of seminars, and instead seemed to be encompassing the whole industry under the term ‘spruikers’, which has created an overall negative image.
In response to the blanket comment made by the WA government’s consumer watchdog, the founder of Blue Wealth Property, Dr Tony Hayek, claimed that the generalisation was unfair and damaging to the many genuine property investment advisors operating in the industry.
Dr Hayek emphasised that none of his company’s seminars are advertised to the public, and attendance is arranged by invitation through professional client referrals from accountants, mortgage brokers and financial planners.
Hayek insisted that most seminars are more research and education-based, and attendees are not able to invest in any courses or programs or commit to a purchase during a seminar.
However, Brian Clarke, accountant with East Coast Accountancy Management Services, disagreed with the premise put forward by Dr Hayek.
Clarke claimed that there are a fair amount of property spruikers that present seminars and use aggressive marketing techniques such as ‘cold calling’ prospects.
In order to protect the average consumer, Clarke believes that the industry needs to be regulated.