Kickbacks to agents shouldn't happen, but do
The consumer lobby group has released a report on advisers and it suggests some agents are referring clients to brokers who they routinely work with for their own financial gain.
It also notes the growing trend for adviser groups to be aligned with real estate agencies – as Harcourts is with Mortgage Express and Ray Whites is with Loan Market – means the ties between them are growing closer.
“Industry insiders say the walls aren’t always as solid as they should be,” according to the report.
“It’s not unheard of for an adviser to be pressured by an agent to get information on how much the purchaser can afford to pay for a property.”
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