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Real Estate Industry

August 5th 2008

HOW TO SPOT A SCAM

Learning from the Olympic ticket scam.

Not all crook spellers are crooks but many crooks seem to be crook spellers. So, always be wary of spelling and grammar errors.

Real Estate Industry

July 7th 2008

AFTER THE NOAH GROUP

A story about one battling family.

Brett Marks of the Noah Group.
According to the Noah Group, this investment was so safe the prospectus was "approved by ASIC".

Real Estate Industry

May 13th 2008

MARK BRYERS IN AUSTRALIA

Kiwi spruiker targets Aussies.

Mark Bryers - Photo: New Zealand Herald
New Zealand's Serious Fraud office is investigating the Blue Chip collapse which has become the biggest property story in the country.

Real Estate Industry

April 1st 2008

MURDER HOME FOR SALE

Agent denies knowledge of crime.

The murder house in Hogans Road, Tarneit.
Let's hope all the salespeople at John Kontek Real Estate inform all potential buyers.

Real Estate Industry

November 5th 2007

BEWARE THE SELLING MACHINES

Sucking-in thousands of naive investors.

If property doubles every seven years, in 2009, an average Sydney home will be worth $189,530,112.00.

Real Estate Industry

August 22nd 2007

HOW TO COMPLAIN ABOUT AGENTS

Don't make threats and try not to be rude.

It's like going to a restaurant, eating a three-course meal, wiping your face with the napkin, belching and then saying the food was no good.

Real Estate Industry

July 25th 2007

'RENT TO BUY' SCHEMES

New name for an old scam.

Victims of these scams (many of whom do not even realise they are victims until it's too late) are ripped off in three ways.

Real Estate Industry

May 31st 2007

THE VALUE IS NOT THE VALUE

Why investors lose millions in property.

The value is what some sharp operator has manipulated through dishonesty, corruption or incompetence.

Real Estate Industry

May 22nd 2007

THE FOOTPRINTS OF KING CON

He's behind a bush called Assets to Wealth.

Dudley Quinlivan devours investors, usually the sweet and trusting types. Such juicy morsels have no chance.

Real Estate Industry

March 23rd 2007

ANOTHER SPRUIKER ANOTHER THREAT

Terrifying countdown ultimatum.

Do you think I am as naοve as those people who believed the claims in your prospectus?

Real Estate Industry

February 22nd 2007

INSIGHT INTO A PROPERTY SCAM

A guided tour of how they do it.

Ashwin Sethi, Insight's Finance Manager
I think Trent Richards is dodgy and I urge consumers to be very careful.

Real Estate Industry

January 15th 2007

ANYONE CAN STEAL YOUR HOME

Beware of real estate's worst nightmare.

This is not a joke, it's a serious warning about what can happen to almost any property owner in Australia...

Real Estate Industry

November 14th 2006

THE ORIGIN OF SCAMS

That innocent phone call offering to help you.

Their scams usually start with a phone call which will mention something that appeals to the average family.

Real Estate Industry

October 25th 2006

SURE LOSS SCHEMES

More mezzanine-style disasters.

Losses have probably exceeded a billion dollars. A lot of people are hurting, most of them in silence.

Real Estate Industry

August 28th 2006

THE SUCKED-OUT SCAMS

Get angry about equity robbery.

The business people responsible for the loss of this couple's equity should be treated like criminals.

Real Estate Industry

July 17th 2006

POWER LOAN - APPEARANCE & REALITY

It's time to shut down this ex-Westpoint ally.

They're using exaggerations, dangerous half-truths and downright lies to create an appearance of respectability.

Real Estate Industry

June 2nd 2006

THE MAN CALLED 'KING CON'

A review of his latest seminar.

The current 'front' for King Con is reportedly a mob called Quadrant Strategic Solutions which uses the same-old technique of luring unsuspecting consumers...

Real Estate Industry

May 15th 2006

THE HARD WORK TRAP

Thousands of sellers wasting millions of dollars.

To convince sellers that their commission is "good value", many agents feel they have no choice but to create an elaborate charade of hard work.

Real Estate Industry

April 20th 2006

THE BUSHRANGER OF BAFFLE CREEK

Legal robbery at the point of a pen.

Peter Francis Thackeray owns Baffle Creek Real Estate. He is an accredited member of the Real Estate Institute of Queensland (REIQ).

Real Estate Industry

February 13th 2006

THE SCANDAL OF STIGMA HOMES

It's time to set up a monitoring service.

A stigma almost always lowers the value of a home. The worse the stigma, the worse the effect on the value.

Real Estate Industry

November 11th 2005

NEW NAME, NEW COUNTRY, SAME OLD SCAM

Disgraced Aussie turns up in Canada.

Pennicott set up his own spruiking company with a pitch and an outcome that's so predictable.

Real Estate Industry

November 8th 2005

PROTECT ME FROM POISON

Buyers need to be alert and alarmed.

Developers can do what they like when preparing contracts to sell their properties. They call it business, buyers call it a rip-off.

Real Estate Industry

October 25th 2005

THE BIG DADDY SPRUIKER IS BACK

Same pitch, different company, same stitch.

They waited until the heat died down, got their dodgy lawyer mates to figure out how to circumvent the limp laws and then re-invented themselves and came back...

Real Estate Industry

September 26th 2005

LAND BANK INVESTORS

Some get rich and some get ripped.

Land banking has been around for years. Bob Hope made money out of it. Donald Trump is involved in it. Now you, the small investor, can also be in it.

Real Estate Industry

June 23rd 2005

STATEMENT OF TNTI VICTIM

George Mihos and his dodgy ways.

The organisers started hugging everyone and Mr Mihos hugged me. When Chris Quinn hugged me he told me that he was sorry that he had to push me so hard.

Real Estate Industry

March 15th 2005

WHITTON'S WORST OF THE WORST IN WEALTH WIZARDRY

The seminar that ends up costing you $495 + $6,995 + $10,995 + much, much more.

Whitton's Property Investor Workshop is designed to achieve two things: prepare you for the hard sell at the end and excite you with the notion that a big property portfolio can be created fast and easy.

Real Estate Industry

February 26th 2005

FACT & FICTION IN THE LIFE OF A SELF-PROCLAIMED LEGEND

Serial bankrupt still claiming "astonishing" success.

A District Court judge described Dale as "a witness of questionable credibility" and said much of Dale's evidence was "inherently implausible" (in a case involving Dale's failure to repay loans totalling $181,000 within the agreed terms).

Real Estate Industry

February 16th 2005

THE 2005 SPRUIKING SEASON

Hunting for consumer dollars.

At that rate you'll turn a mere thousand dollars into $922 million in just ten years. "Very very simple stuff," brags Brad.

Real Estate Industry

January 24th 2005

"THE BUSINESS OF MAKING MONEY"

WARNING: Those little ads can spell big losses.

It was a neat stitch by an experienced property dealer. Buy a block of land for $18,000 and sell it for treble the price to a trusting and unsuspecting family.

Real Estate Industry

December 21st 2004

SAFETY IN REAL ESTATE

A few safe rules for property consumers.

Thousands of consumers are hurt in property every year – and all because they did not know or did not follow the safety rules of real estate.

Real Estate Industry

November 29th 2004

NO GUARANTEE, NO SIGNATURE!

Protect yourself from property rogues.

A year later, when he goes to inspect the completed apartment, he is horrified to see that an electricity sub-station has been erected in front of his balcony.

Real Estate Industry

November 3rd 2004

NIGERIAN-STYLE REAL ESTATE SCAM

Homesellers urged to be careful.

I also mentioned Brisbane solicitor, Paul Crowley, who lost $4 million dollars of a client's trust money in a Nigerian scam. Crowley went to jail.

Real Estate Industry

October 25th 2004

THE "GOVERNMENT" PROPERTY PITCH

Behind that smooth talking caller.

In the stitch-em-stakes, Paris has plenty of experience. He has left a string of victims in his wake over the years, many of whom are still reeling from their dealings with him.

Real Estate Industry

September 28th 2004

RENTAL GUARANTEE SCAMS

How investors lose thousands with rental guarantees.

Here's how these deadly devices can lose a typical investor $90,000 in two years...

Henry Kaye

June 17th 2004

NOTICE TO HENRY KAYE "LOAN" VICTIMS

Information regarding class action against AFD.

Slater & Gordon have set up a specific toll free number for those hurt by the Henry Kaye scandal. That number is 1800 672 889.

Real Estate Industry

June 2nd 2004

WHOLESALE PROPERTY RIP-OFFS

How investors get conned twice.

Today, Phil Jones and many other property spruikers are still making outrageous claims and no action is being taken against them.

Real Estate Industry

December 8th 2003

ALERT ON MEZZANINE LENDING

Please take great care!

With returns from property investing at record lows and with paltry returns on fixed deposits, it's getting hard to find a decent return these days.

Auctions

November 6th 2003

DUMMY BIDDING

Inside auction's notorious fraud

The CEO of the Real Estate Institute of Victoria, Enzo Raimondo, in an interview on ABC Radio, said, "I'm not sure what is meant by dummy bids. I haven't heard anyone explain to me what a dummy bid is."

Phil Jones and Brad Sugars

October 27th 2003

ALERT ON PROPERTY PREDATORS

The boom has created an epidemic of predators.

Jones and Hows have been well taught. Their seminars are endorsed by their teacher, the Australian Brad Sugars, described as a "Multi-Millionaire, Entrepreneur, Author, Investor and Legend" (it really says that).

Henry Kaye

October 4th 2003

THE "PHISHING" SCAM

Latest threat to real estate consumers.

It has nothing to do with ASIC. It is neither impartial nor trustworthy. It's run by con artists pretending to be authentic and helpful.

WRAPS

September 8th 2003

BATTLING BUYERS BEWARE

Real estate pawnbrokers can exploit you

Struggling would-be homebuyers are still being preyed upon by those real estate pawnbrokers – the wrappers.

Advertising

July 21st 2003

BIG TRUTHS TO BE FOUND IN LITTLE ADS

Clues to find the true value of apartments

Many buyers of apartments – especially those buying for investment – have not done much thinking these past couple of years.

Henry Kaye

July 16th 2003

STAY AWAY FROM HENRY KAYE

The man who inflicts pain

The National Investment Institute is one of more than a hundred companies linked to Henry Kaye.

Real Estate Industry

July 16th 2003

JULY E-MAIL UPDATE

July Update to Subscribers

Since our last update, here are some of the many topics added to our site

Advertising

July 9th 2003

ALERT ON PROPERTY ADS

How Typical Real Estate Advertising Gets Lower Prices

Homesellers, be aware of six important points if you allow agents to advertise your home.

Real Estate Industry

June 26th 2003

EIGHT RULES OF BUILDING INSPECTION REPORTS

How to select a Building Inspector

Some inspectors pay kickbacks to agents.

Real Estate Industry

June 22nd 2003

A FLAW IN JENMAN'S SYSTEM?

Seller nearly loses $45,000. Be alert .

I think his system has a flaw which sellers need to know about.

Real Estate Industry

June 19th 2003

THE DANGER OF OPEN INSPECTIONS

An open invitation for anyone

In January 2001, Seattle real estate agent Michael Emert was murdered in a home he had been showing to buyers. In a 12-year period in the United States, 70 real estate agents were murdered in similar circumstances.

Real Estate Industry

June 17th 2003

THE SEMINAR ROGUES

A disgrace to our society

The rogues are raking in millions. Do you want to know who they are?

WRAPS

June 9th 2003

WRAP SHARKS

Leading financial adviser sounds shark alarm on wrapping.

Another respected financial adviser has condemned the practice of real estate 'wrapping'.

Advertising

June 6th 2003

BURGLARS TARGET HOMES VIA THE INTERNET

The danger of "Internet tours"

Recent robberies of homes that have been featured on the Internet is another stark reminder for all consumers to beware of the dangers when homes are exposed to the world.

Brad Sugars

June 2nd 2003

BRAD SUGARS & PALS & RIPPING OFF FARMERS

Skulduggery sinks to a new low

It's hard not to feel intense anger when skulduggery sinks as low as this. This self-titled "entrepeneur and multi-millionaire" actually appears in an advertisement which brags about ripping off drought stricken farmers.

Real Estate Industry

May 30th 2003

BEWARE OF MEZZANINE LENDING

Real Estate Consumer Association says Mezzanine Lending is no place for consumers.

Consumers are coaxed into becoming lenders by using equity in their homes. These schemes are so easily identifiable it beggars belief that the regulatory authorities have been reluctant to act.

WRAPS

May 1st 2003

REAL ESTATE 'WRAPS'

Comment by Neil Jenman

If the battlers pay the investor but the investor does not pay the bank, the battlers lose everything even though they have done nothing wrong. The bank steps in and kicks out the battler.

Real Estate Industry

April 22nd 2003

INVESTMENT SCAMS

What are these Investment Scams?

These scams are about selling properties to unsuspecting consumers for tens of thousands of dollars above their true value. The prices of the properties are "loaded", as much as $100,000 above their value.

Real Estate Industry

April 17th 2003

GIVE THE MONEY BACK!

REAL ESTATE

These stories can make you feel like crying. They are the stories of elderly folk whose homes are sold for fifty or a hundred thousand dollars (or even more) BELOW their value.

Real Estate Industry

October 19th 2002

New real estate laws in Victoria

Consumer protection in real estate has inched forward in Victoria.

The new laws which Consumer Affairs Minister, Christine Campbell announced on Friday, October 11 – and which may still be amended – show that the government is at last doing something to curb the massive deceit in real estate.

Real Estate Industry

May 28th 2002

BEWARE THE GET-RICH-QUACK GURUS

They are still preying on people

Most people think it would be nice to be rich. Or, at least to have enough so they don't have to worry about money. The fear of being poor, especially in old age, terrifies people. These days, with all the headlines about the booming property markets, it is easy to think you are missing out.

Real Estate Industry

May 20th 2002

Danger for first-home buyers

It is easy to forget about the debt hangover.

Anyone who has ever borrowed money to buy a car knows the initial excitement. You take delivery and you feel you could drive forever. It's exhilarating, almost intoxicating. But in our drunken desire for possessions it is easy to forget the debt hangover that follows.

Real Estate Industry

April 8th 2002

Strong laws needed in rotten real estate industry

Farcical self-regulation

Policing the real estate industry must be taken out of the hands of the real estate industry - and placed where it belongs: with government law enforcement agencies.

Real Estate Industry

November 21st 2001

DUMMY BIDDING

DUMMY BIDDING - It's ALL LIES

Dummy bidding, the most notorious auction lie, is making news again. The NSW government is proposing a "bidders' register", similar to that proposed in Queensland earlier this year. But that proposal was quashed by the real estate industry.

Real Estate Industry

November 15th 2001

KICK OUT KICKBACKS!

Rebates! Kickbacks!

IF YOU ARE ABOUT TO SELL YOUR HOME, be careful of a scheme which fleeces millions of dollars from home-sellers. It's the advertising kickback rackets. It is all done through a scheme known as "rebates".

Real Estate Industry

October 25th 2001

REAL ESTATE - BOOM AND BUST

If you want to be safe in today's real estate market

THE REAL ESTATE MARKET WILL CRASH. It always does. And the bigger the boom, the bigger the bust. Anyone who says real estate always goes up and it's the world's best investment does not know much about real estate. If you tell someone that the real estate market will crash, the next question you will get is, "When?". Now that's a more difficult question to answer. But let's look at some ominous signs.

Real Estate Industry

August 14th 2001

HOW SELLERS LOSE WITHOUT SELLING

THE "STANDARD" SELLING AGREEMENT

The following story shows just one of the many ways that thousands of sellers place themselves at risk when they sign a 'standard' real estate selling agency agreement. There is now a remedy available to protect sellers from being hurt in this manner.

Real Estate Industry

August 6th 2001

Consumer Guarantee

Real Estate Guarantee increases trust

In The Age (August 4 2001) the CEO of the Real Estate Institute described Neil Jenman's real estate Homesellers Protection Guarantee as a "marketing gimmick". Neil Jenman rejects this accusation because the Guarantee is available for home-sellers to use with any agent, not just agents approved by The Jenman Group.

Real Estate Industry

July 3rd 2001

DON'T SIGN ANYTHING!

When you sign on the dotted line with a real estate agent, your home is on the line.

Back in the days when doctors made house-calls and pizza companies didn't, things were different. In those days, business was often done on a hand-shake. Consumers were more trusting. But then more companies were worth trusting. There was a spirit in our society which accepted that "your word was your bond".

Real Estate Industry

June 15th 2001

FALSE QUOTING

The Scandal Of False Quoting

When Lisa signed-up to sell her home the agent quoted her a price of "$370,000, maybe more". And then he advertised it as "range $230,000 - $270,000".

Real Estate Industry

June 1st 2001

Auctions And Booms -

Home-Sellers Can Lose Most When The Market Is Booming

It is a well-known financial maxim that the biggest losses can occur during the times of the biggest profits. Success creates complacency. It makes people drop their guard.

Real Estate Industry

May 22nd 2001

DEFENDING THE LAWYER

His critics call him crazy and obsessed

His name is Tim O'Dwyer. He is a lawyer. With a black T-shirt under a leather vest and a scant scruffy beard, he looks more like an ageing rock-star. You want to like him. But with many real estate agents, this lawyer is despised...

Real Estate Industry

May 7th 2001

GAZUMPING - BE AWARE

Until the contract has been signed , NOTHING is certain.

With most home sales, there are three groups of people - sellers, buyers and agents. The sellers want the highest price, the buyers want the lowest price and the agents want a commission. For the buyers and the sellers, this is a dangerous formula. Most times, the agents are in no danger...

Real Estate Industry

April 18th 2001

The Bonus Scams

Home Sellers To Pay More Commission If Their Homes Sell For More Money

There is a nasty scam emerging in the real estate industry. It is a particularly dangerous scam because, on the surface, it seems fair. It requires home sellers to pay more commission if their homes sell for more money.

Real Estate Industry

March 16th 2001

Misleading Information

How Can They Call This A Success?

Advertisements placed by agents which say such things as "90 percent success rate at auction" are only telling one side of the story - the agents' side.

Auctions

February 6th 2001

HOW AUCTIONS GET LOWER PRICES

Nine Reasons Auctions Get Lower Prices

If someone is trying to talk you into selling by auction, then before you sign anything, please read this.

Real Estate Industry

August 23rd 2000

Responsibility In Real Estate

Agents should give REAL guarantees to consumers

"Excuse me, but I'm looking for somebody to blame," sang Bob Dylan in his song Hurricane. In the real estate industry it is hard to find people who will accept responsibility and take the blame when things go wrong.

Real Estate Industry

July 20th 2000

The Advance Fee Scams

A new sting to a common scam in the real estate industry.

What you are about to read is commonly known as being "all stitched up". No matter what you do, you lose. And you can't get out of it.

Real Estate Industry

June 9th 2000

Real Estate Crooks

Agents who STEAL money from their clients are crooks.

A long time ago, at a seminar, I said "50 percent of agents are crooks". A rather unpleasant agent demanded an apology. So I said "50 percent of agents are NOT crooks". The audience howled with laughter. The offended agent left the room.

Real Estate Industry

May 15th 2000

The Dummy Bidding Fraud

Dummy bidding is intended to coerce sellers AND buyers into making decisions based on FALSE information.

In last Sunday week's Herald-Sun, a journalist quoted the advice from the book, Real Estate Mistakes, about calling the Police if you suspect fraud in real estate. Last week someone called the Police.

Real Estate Industry

May 9th 2000

Bait And Crunch

How the old "Bait and Switch" has become the new "Bait and Crunch".

Many years ago The Cord Car Company used to advertise Holden Commodores at incredibly low prices. Each weekend full page ads would usually feature one car at say $3,000 when the new price for the exact same model elsewhere was many times that amount.

Real Estate Industry

April 7th 2000

Weekend Auctions

Auctions This Weekend.

Every weekend when I look at the thousands of homes for auction, I can't help feeling upset about the thousands of consumers who are losing money. I think of how hundreds of agents will be admiring their own advertisements, which increase their "profile"...

Real Estate Industry

March 21st 2000

The Advertising Scams

THE REAL ESTATE ADVERTISING SCAM

Did you watch Media Watch last night? In about five minutes, Media Watch gave its viewers a look at one of this country's greatest consumer scams ­ Real Estate Advertising. Yes it is a 'scam' and, frankly, it makes me feel ill.
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