A company aligned to a financial planning dealer group has launched a range of investment properties for advisers and their clients, which it says are selected based on quality not sales commission.
Australian Capital Property - part of the Australian Capital Group, which also owns Australian Capital Financial Planning - said the properties available have been independently graded and valued by Propell National Valuers to ensure good value.
“We decided to offer these investment properties because we were becoming increasingly worried about the integrity of investment properties that paid huge commissions to salespeople,” Australian Capital managing director Barry Parker said.
“Our properties are not selected on the size of the commission, but rather on the quality of the asset.
“Of course there’s something in it for the planner too: getting your customer into a sensibly priced investment property to help grow their future wealth, and sharing in the standard real estate sales commission.”
The properties consist of apartments, townhouses, villas and house-and-land packages and are provided through the central property exchange (CPx).
Mr Parker said the criteria used by Propell to assess the properties include historical and potential regional growth, price, value, demographics, design and floor plans.
“As the properties are independently graded and valued, our customers can avoid properties that are over-priced to account for massively inflated sales commissions and the like,” Mr Parker said.
Magellan wrapped up a tumultuous year with a 9 per cent drop in average funds under management.
With more still to come.
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