Pressure increases for qualified investment advice

Pressure increases for qualified investment advice

by 0 comments

The Property Investment Professionals of Australia (PIPA) are calling on real estate agents to increase the professionalism of the property investment industry.

PIPA has announced an ambitious strategy to raise the professional standard of property investment advice.

The New Year marks a new push for PIPA, according to chair Ben Kingsley, with the association calling on all professional practitioners – including mortgage brokers, financial planners, accountants and real estate agents – to join forces and increase the professionalism of the property investment industry.

“There are more than 80,000 professionals, employed either directly or indirectly within the property investment industry, giving opinions and advice to consumers,” he said.

“However, our figures indicate that less than one per cent of those are actually formally qualified to offer direct property investment advice."

Unlike the areas of financial planning, real estate and mortgage broking, the provision of property investment advice continues to be unregulated.

Currently anyone can promote property as an investment option.

Despite a lack of regulatory framework around property investment advice, any professionals that provide services relating to property investment can become formally qualified and recognised for their expertise through PIPA’s Property Investment Adviser Accreditation Course according to Mr Kingsley.

“PIPA will continue to lobby the Australian government to regulate the property investment industry – and this is top of our agenda in 2013,” he said.

“But in the meantime, we’re calling on members of the industry to work together to protect our reputation and help consumers seek out qualified professionals who have both the educational and ethical standards required to provide quality advice on property.”

As one of the most common investment selections among Australians, the fact that property remains an unregulated asset class is ludicrous, Mr Kingsley said.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
Learning from the best led Michael Clarke to success

In this episode of Secrets of the Top 100 Agents, number four-ranked agent, Michael Clarke, returns to the studio to explain why he’s less...

View all podcasts

How difficult is it to maintain a good work/ life balance?

Very – if I’m having balance my competitors are working
Not – I schedule the time into my calendar in advance
A little – It’s scheduled, but something always crops up
Work/ life balance – what’s that?
Do you have an industry update?