Property experts warn that spruikers out in force in hot market

A new collaboration of six of Australia’s property experts has created Your Property Team, a group who are warning that the spruikers are out in force in the current hot market.

The Your Property Team group includes Destiny Financial Solution’s Margaret Lomas, Australian Property Monitors’ Andrew Wilson, consumer advocate Lisa Montgomery, BMT’s Bradley Beer, Bishop Collins’ Ian Rodrigues and Block Strata’s Michael Teys.

Lomas says that the main problem facing the industry is a lack of regulation and a failure on behalf of the federal government to recognise property investing as an industry.

“I’ve been lobbying the government, both Liberal and Labor, for around eight years now, to step up to the plate and provide supervision and control to prevent the often spectacular financial losses  by hapless property investors who fall prey to spruikers,” she said.

“I’ve seen some really sad cases of every day Australians losing all they have worked for and having nowhere to turn and no laws to back them up.”

To counter a number of questionable seminars, they’re making their own.

She selected the team, from regular guests on her show Your Money Your Call, to create a one day national workshop series under the slogan ‘Nothing to sell except their expertise’.

“We hope to go some way toward making it hard for the spruikers who offer ridiculously expensive ‘boot camps’ and workshops to get business,” Lomas said.

“There’ll be no upgraded course costing tens of thousands of dollars on offer and definitely no property to sell at the end – just a full day of current information, from six highly skilled experts, to help you make the most of 2015.”

The cost of one adult ticket is $410, with 400 available, according to the Your Property Team website, with Sydney Property Intensive 2015 being their first event. Melbourne and Brisbane will also see the team visit, with the possibility of visiting other capitals.

Topics covered include growth drivers, the national state of the market, financing your portfolio, depreciation strategies and strata titled property.