Saturday, January 24, 2009

New Property Portal - But Not For Some

Well after a quite couple of weeks, we return with some relatively positive news for the overseas investment property business, at least for buyers anyway.

The NFOPP is extending its free to list portal to overseas agents. For those that aren't aware, the NFOPP (National Federation of Property Professionals) are about as close as it gets to some kind of regulatory body for the property industry. Individuals have to qualify to become members, and adhere to codes of practice. They can be investigated to a degree and so on and so on.

Spending some £400k on the venture, (which can be seen at this will no doubt be an attractive business tool for the industry, providing relatively cost free marketing in what is currently a very tough market place. The requirement to adhere to ever tightening rules and regulations regarding the sale of properties, as well as the management and safe keeping of deposits is welcomed by the consumer and investor also.

Whilst the NFOPP maintain the portal will always be free to members, the main commercial benefit to them will be members, in turn hopefully tightening up on the scam merchants and general con artists out there.

Sadly though, the portal will not be all encompassing on a global scale. The NFOPP have placed a few restrictions here and there. Although members of the NAR in the USA will be able to list, as will members of the CEI (Confédération Européenne de l'Immobilier: European Confederation of Real Estate Agents), much of the former communist block will not, and neither will much of Africa and Asia. Hopefully this will change as time goes by. The most noteable restriction though according to trade source is our friends at MRI. The NFOPP have apparently said "There will also be no place for MRI Overseas Property who recently “left” NFOPP after it accused the association of “being used as a platform for libelous comments against it”"

Now one has to wonder whether Macanthony Realty has wheeled the lawyers out over that one, or proceeded to grill everyone they know in a vain attempt to have the comment removed from the search engines by threatening all and sundry with law suits in the hope of striking lucky, as they did with us a few weeks back. We also have to ask the question, (despite not being connected at all, being completely independent etc etc) whether DCC International Property or Solutions Overseas will have the same "restricted from listing" applied to them?

We would like to thank everyone for there comments and emails of support after the removal of our postings in recent weeks. We would also like to apologise to those who were contacted with very heavy handed e-mails by a certain company. After much discussion, we should be in a position soon with some friendly lawyers who are happy to check our articles prior to publication, to establish if we can be sued or not. Rest assured, the moment we have a new platform in place, we will let you know.


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1 comment:

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