Can anyone tell me what spruiking is?

Sim

Administrator
My definition of spruiking is basically around trying to sell or promote something in a sales-like manner (in this case usually real estate).

People usually involved in spruiking real estate (to name a few):

1. vendor (obviously wants to sell)
2. sales agent (gets a commission for selling real estate)
3. real estate marketer (generally associated with the real estate agent who actually completes the deal)
4. bird dogger (locates deals for other people for a fee)
5. flipper (on-sells the property before settling on the transaction)
6. syndicator (gets groups of usually less than 20 people together to buy a property, either for a fee or for equity)
7. financial advisor (gets a commission from real estate agent for refering clients)
8. investment trustee (gets a commission and/or fee for managing real estate investment scheme)
9. fund manager (gets a commission and/or fee for managing real estate investment scheme)

... not everyone on this list is necessarily a "spruiker", but they are all involved in selling real estate in some way, none of which is allowed to be promoted on Somersoft.

To be clear neither of these is permitted on this site: A) soliciting investors or financiers for a real estate transaction, or B) advertising that you have real estate deals that other people may be interested in.

Members are more than welcome to post details of real estate deals for other people to discuss (for educational purposes) in the Caveat Emptor section - but new members are not allowed to post there until they have been a member of the site for a while and contributed in other ways.
 
"Touting occurs when a person advertises, promotes, or otherwise describes a security for sale without disclosing that the person is being paid to do so."
(description from Wikipedia under "touting", the American equivalent term to the Australian/English "spruiking").

Were you planning to charge for your services?

If so, what you did could be described as spruiking.

If not, then why not give the links to the "deals".
Marg
 
Not to mention that bird dogging and flipping properties are highly illegal without a license.

We see all sorts of "rubish" come across our desk, people calling themselves investors who want to flip the latest "deal" to other investors. Deals that are just a money pit and a mere transaction rather than a well thought out investment opportunity.

We knock things back from our buyer's agency almost daily, however shocked to find that the investor has then gone and flipped the deal to some other poor sucker who was stupid enough to pay a finders fee for it.

Not only did they not ever have to pay a finders fee but the person requesting a finders fee can be heavily fined. Up to $500,000 in SA.

The blind trying to lead the blind to me is spruiking.

I once attended a property seminar by a well known individual after 3 to 4 hours of talking about investing in property and the RE market I privately asked him how many properties he has.

His answer made me nearly fall off my chair

ONE! Worth $300,000. And this guy is running property investing seminars.

Absolutely shocking.
 
Xenia

There are a number of styles of flipping property, some are legal in all states
others I believe are legal in some states while illegal in other states.

Cheers

Pete
 
could we go further and suggest that the term is often associated with a description that implies the person who is selling/promoting in this way is up to no good?
it is often used in a negative way. it would not flattering to be descibed as such. IMHO.

can i also suggest that just because someone is licensed in anything, does not mean their actions are always law abiding?

it can be impressive to see lots of qualifications and give a sense of credibilty, but examine the actions and behaviour too. lots of research will help and enlighten.


also it is wise to look closely at the credentials and history of any presenters and not just to note the promoters descriptions of such people?

its the old buyer beware, when being sold anything.
just a few thoughts on the subject.
 
Nathan, I think it may also be that asking the same or nearly the same question on another property forum hasnt helped your quest as well.
 
Spruiking used to be a nice term. It was applied to people who walked around shopping centres calling out the bargains in the various stores when I was a kid.

Now, it's usually someone who is dressed a bit too slick; looks too much like a try-hard r/e agent and is trying to sell you an investing course, which is actually a front for a program to try and sell you an over-priced IP, usually with a rental guarantee built in.

It can also be a media-"guru", who has a vested interest in real estate - someone like Enzo Raimundo.
 
Good way to tell a spruiker?

When they post their spiel or a question like the first post in this thread, then never come back to look at the answers. :D
 
Spruiking used to be a nice term. It was applied to people who walked around shopping centres calling out the bargains in the various stores when I was a kid.

Now, it's usually someone who is dressed a bit too slick; looks too much like a try-hard r/e agent and is trying to sell you an investing course, which is actually a front for a program to try and sell you an over-priced IP, usually with a rental guarantee built in.

It can also be a media-"guru", who has a vested interest in real estate - someone like Enzo Raimundo.

Similarly, I lived with a girl in Queensland who would openly describe her position as Spruiker when describing what she did. She would be on one of those little booth stands in Surfers Paradise trying to get people to buy time shares, I think.

My impression of the word has been to describe someone that is promoting a business or sales, using well scripted verbal advertising.

Regards JO
 
Spruiking used to be a nice term. It was applied to people who walked around shopping centres calling out the bargains in the various stores when I was a kid.

Agree - any Adelaideans would agree that the spruiker at Harris Scarfe in Rundle Mall is and Adelaide Icon. He has been doing it for at least 10 years :eek:
 
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