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Why you won’t find the REAL property experts at network events

April 30, 2010

Nowadays the world seems to be full of so-called “experts” and “gurus” who claim we can trust them to look after our pension/ banking/ health/ whatever they are trying to sell.

Nowhere are the “experts” more apparent than in property – you have an “expert” to help you source the deal, an expert to help you fund the deal, an expert to help you legally buy the deal, refurbish the deal, sell the deal and on and on – you get the picture.  Property “experts” go in cycles and we have seen the rise and fall of the Below Market Value (BMV) guru and now the emergence of the Lease Option guru (well now you can buy property for a £1 so why do BMV!).

Added to that is the rise of the property networking event – a gathering of a huge number of “experts” ready and willing to share their expertise…for a fee.  But, why is it when people get involved with property they lose their head? Why is it that perfectly sane, hard working individuals will pay £2000 upwards for a course which will “Teach them how to buy property”. Is it greed? Belief in the “expert”?  How else can people give “experts” like Ajay Ahuja thousands of pounds upfront to buy a deal BMV? Which for many, led to no properties found (but a fee still paid) or buying a property OVER market value!

And then you have to contend with the claimed “expertise” of the “professional” sector; RICS surveys are held aloft as the trophy. Property sourcers use RICS surveys as the be-all-and-end-all when claiming property discounts….and yet sometimes that same house they are claiming has a 30% discount can be found 40% cheaper on Rightmove!

Property experts make their money from the illusion of “expertise”.  They are profiteering from the human desire to learn more, earn more and be more. Most are motivational speakers who have honed their craft – they are salesmen in “expertise”. The real property experts are making their money from property.

www.VirtualLetz.com – Bringing people & property together

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9 Comments leave one →
  1. Andrew McInnes permalink
    April 30, 2010 9:45 am

    You make some good points. Most of the ‘experts’ and ‘gurus’ you refer to make the bulk of their incomes through educational products and generally over-priced courses. I speak from experience here. It’s a triumph of marketing.

    With property, as in most business sectors, the real high-earners are quietly getting on with it and keeping their ‘insider secrets’ to themselves.

    • May 3, 2010 6:15 am

      Andrew – spot on. The worrying thing is all these “experts” know is spin and so that is all they sell. It just seems to be about selling the hype – the illusion and no-one realises until it’s too late and they’ve spent all their money and nothing to show for it!

  2. April 30, 2010 12:32 pm

    yes notify me by email

  3. April 30, 2010 6:02 pm

    I think you could have said a lot more Sam, but I will just ask – where do you find the real property experts, and how do you tap into their expertise?

  4. May 1, 2010 8:54 am

    I’ve tried to post twice now and failed… tho I left similar comments on your singingpig post yesterday. I’ll try again:

    The real experts are too busy doing deals to mess about promoting themselves as experts or doing seminars. If I want to know about property investing, I’ll ask someone whose main business is investing in property. If I want to know about selling courses I’ll ask a salesman – which primarily is what most of these guys are. There are a few notable exceptions, certainly Trevor Dennington and Lisa Orme, probably Greg Jackson, possibly Matthew Moody and Lyndon Foreshaw, I’m not sure where Glenn Armstrong gets his main income from these days, but possibly he still qualifies too. He at least appears credible because he still doesn’t look like a salesman, he doesn’t wear hair-gel (yet), and he certainly doesn’t rely on cultivating a charismatic image!). And yes, if that sounds like damning with faint praise, it’s meant to be. 🙂 🙂

    I tried to put in a few links, perhaps that’s why the post failed? I’ll leave them out this time, but they were for:

    A really good current discussion on the over-hype of lease options:

    Problems with RICS you alluded to:

    Courses:

    Who are the real UK property experts? Including the phenomenal Candy Brothers. These guys blow everyone else into the weeds in my opinion. Yet most people have never even heard of them.

    • May 3, 2010 6:19 am

      Rich you are right – there are so many “showbiz” property gurus – yet what they sell is often not the real source of their income! The lease options hype is scary – just how many people are being sucked into this idea of buying a house for a £1 – does nobody adhere to “if it sounds too good to be true…it probably is”!!!

  5. May 3, 2010 6:49 am

    Sam,

    Mankind developed by learning from those who know more. If you read James Caan’s autobiography you’ll see that the key step in his education was working as the assistant to a talented salesman.

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