Property investment is risky enough on its own, but now the industry agrees that the investment staff that investors turn to for help should be better educated to prevent losses.
Ben Kingsley from the Property Investment Professionals of Australia (PIPA) believes that real estate agents, and mortgage brokers in particular, should be educated on self-managed super funds because if they aren’t, they are just “jumping into the space when they shouldn’t be” and would be giving bad advice.
When it comes to self-managed super funds which are established for property investment purposes, real estate agents, mortgage brokers and other investment practitioners have to meet a minimum standard of requirement in regards to their education before they can provide advice to investors. PIPA believes that more education and regulation like this is essential due to the high cost as well as the high risk of investors receiving bad advice.
By better regulating the property industry PIPA also believes that investors will be more protected against scammers and unscrupulous operators.