Would You Trust This Agent With Your Money?
OPINIONby Peter Mericka B.A., LL.B
Real Estate Consumer Advocate
Real Estate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd
Would you trust an estate agent who is so desperate for cash as to resort to borrowing against future commissions?
What lengths would such an agent go to in order to prevent the loss of a sale if the commission has been spent in advance?
We have already commented on the concept ofCommission Factoring in a previous posting, but it seems that more money lenders are getting into this apparently lucrative area.
V.I.P. Cashflow uses the above “empty pockets” image on its website to promote its service to estate agents, and recently sent the following email to estate agencies:
“Would you like your Sales Commission now? Why wait 30, 60 or 90 days plus for your commission when you can have it NOW!
At VIP Cashflow we specialise in providing advance commissions to all Real Estate Agency’s and their Consultants.
VIP Cashflow is a new venture from VIP Home Service Group a name you can trust, established since 1972. You now have the opportunity to get your cash flowing and utilise your hard earned Commission, when you need it.
Access your commission within 24 hours!
To find out more about how VIP Cashflow can help build your business call 1300736676 or visit www.vipcashflow.com.au.
Yours Sincerely
P: 1300736676 (Anywhere in Australia)
F: (08) 82697897 E: info@vipcashflow.com.au
W: www.vipcashflow.com.au”
We believe that an estate agency would have to be in rather desperate circumstances to borrow against the future in order to solve present cashflow problems, particularly when it would add another overhead to the business.
We asked V.I.P. Cashflow to provide us with a profile of a typical client, and to comment on this posting. We received no response.
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