20 questions you should be asking any professional you deal with

By

07/03/2015


No investor is an island and at some point or another you’re going to have to hire the services of a property professional. Here’s how to make sure you don’t end up with an incompetent or dodgy one

About them

1. Are you a property investor (if so, how many properties and where)?

2. How many people do you manage funds for?

3. How many properties have you managed to date?

4. How will you assess my risk profile?

5. What do you base your research on and how often do you update it? 

About their clients

6. How often do you update and communicate with your clients?

7. What kind of returns have you generated for yourself and for your clients?

8. What do your clients say about your services?

9. Can I verify this with some of your clients? 

About commissions

10. Why do you recommend this investment product (property)?

11. What type of properties do you recommend and where do you source them?

12. What commissions do you get paid and from whom?

13. What service do you provide to these companies for your commissions?

14. Which company does the valuations on your properties?

15. Is there a link between you and this valuer (commissions paid)?

16. Who organises the finance and insurance for your properties?

17. Is there a link between you and the finance or insurance companies? 

Qualifications

18. What are your qualifications?

19. Are you licensed with the correct associations (eg ASIC)?

20. What are your areas of expertise?

Source: Angelo Piazzetta, "The Property Professor"

 

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