VIC Do you know Ironfish group

Ironfish recruites a lot of new agents and they very actively approach buyers to sell thier properties. Anyone works with Ironfish. What are your opinions?

 

If you're a buyer, beware. They'll just try to sell you their developments as part of their 'free strategy service'

 

I guess that. They recruited a lot of agents in the Asian communities to sell to their freinds and relatives. Their agents have no RE licenses. A sort of multi level marketing.

 

It is a matter of sad fact that recently a lot of so called "HKers" left HK to avoid the regime, and came to Australia, set up a social media account, gather fans, ending up working for one of these groups selling overpriced new developments with little land values.

They will try to get these cashed up new comers to buy these OTPs, end up they will learn property investing the hard way - if someone come and sell them to you without you doing much work - that is probably not a good investment.

 

I've never heard of them, however I'd never advise anyone to go to one of these 'property groups'.

 

I came across them in a property expo in Sydney pre covid. They obviously approached me due to my Asian background. As soon as I saw the types of properties they were selling I just grabbed some freebies (water, pens etc), gave them a false number and made a dash for it.

But I can see how it can seem appealing to HKers who are used to these types of developments at home. What's disturbing is hearing that a lot of these RE agents that aren't licensed O_O Is there no place that we can report this?

Clearly I've only just scratched the surface of the malpractices in this very unregulated industry ^^'

 

If they aren't registered in NSW, Fair Trading will raise an eyebrow.

 

They only sell apartments in high rise buildings don't they? And we all know how poorly these usually turn out as investments.