An Auckland real estate agent says his new scheme, in which he buys units and industrial properties on behalf of investors, will help young people who've "given up" on the property market - and middle-aged New Zealanders who are ill-prepared for retirement. Martin Dunn, of City Sales, has launched Real Estate Together, a platform that offers to match people who want to buy a property with other investors, and then help them find the right one to invest in. He charges 4 per cent of the purchase price as a finder's fee and then ongoing property management fees deducted from the rent, of 8.5 per cent. Dunn said this latest venture was being regulated under the Real Estate Agents Act. Real estate agents are allowed to offer limited property investment advice without being regulated as financial advisers.

Source: Stuff December 02, 2019 00:33 UTC