Apparently "many IFAs are introducing clients to properties abroad and receiving generous commissions!" Every day we have an approach to sell, introduce or become an agent of some foreign property company who will pay us "enhanced" this or "uplifted" that for leads and introductions.
Why? Are we, as advisers that greedy (or gullible) that we dilute what we are meant to be doing to sell villas in the Costas?
IFAs seem to be a good or lucrative source of business. But if we are then we should close and reopen as overseas agents rather than IFAs.
Isn't this another reason for the public to view us in a negative light? Are we overseas estate agents or financial planners?
I understand that many people look forward to their place in the sun and that's all well and good, but I am not going to sell it to them. There are many good and professional organisations who are fully capable of helping clients to buy abroad, but they don't come under the heading of IFA. As the recent TV property programmes note, there seem to be many pitfalls to buying abroad and caution is needed.
It is clear from this 'rant' that this situation really annoys me as it appears to be working against everything we, as a profession, should be trying to avoid. As you can guess, we won't be taking up any of the (almost) daily offers made.
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