Having a great team around you is the first step to success if you’re looking to invest in property, and the first step to finding a great team is making sure they have the appropriate qualifications. You can start by ensuring your Property Investment Advisor is a QPIA…
…wait, what does that mean, exactly?
what does qpia stand for?
QPIA stands for “Qualified Property Investment Advisor” and refers to individuals who have completed the QPIA accreditation course through PIPA (Property Investment Professionals Australia). Essentially, a QPIA is someone who has completed formal training to practice property investment advisory.
To call themselves a Qualified Property Investment Advisor, professionals in the field must uphold a strict Code of Conduct and meet particular guidelines. QPIAs are also required to work independently from developers and not recommend one property over another based only on the benefit they receive from a sale. This ensures there is no conflict of interest and the client’s needs are always put first.
Other professionals in the property field, including accountants, mortgage brokers, real estate agents and property managers, are also able to complete the QPIA course to provide further value to their clients.
In Australia, the Property Investment Advice Industry is unregulated, meaning there are no laws or rules regulating who can provide property investment advice. Because of this, it’s critical to beware of other so-called “professionals” who typically offer services that will serve their needs, rather than yours – these are known as ‘property spruikers’, and they should be avoided at all costs. Anyone can claim to offer trustworthy advice on property investment, but only QPIAs have completed the certification process to do just that.
What is PIPA?
Property Investment Professionals of Australia (PIPA) is a not-for-profit body that was created by industry practitioners to raise the professional standards of property investment advice. Their 6-module course must be completed to become a QPIA.
Other operators in the property investment industry can become members of PIPA to show consumers that they are an independent entity working in the best interest of its clients. PIPA aims to regulate the industry by encouraging consumers to work only with operators who are PIPA members, and only Advisors who are QPIA-certified.
What Does a QPIA Do?
A QPIA will work with you to discuss your reasons for investing and current circumstances, both personal and financial, as well as assessing your risk profile. Knowledge of these aspects will allow the QPIA to assist you in building a long-term property investment plan that is both sustainable and will allow you reach your goals based on clear evidence and reasoning.
In addition, a QPIA will ensure you are completely educated on the relevant aspects of property investment, including the potential risks, ongoing costs and comparisons to other forms of investing.
Essentially, a QPIA is there to help you invest in property, and invest well!
How Do I Find a QPIA?
PIPA has a directory on their website of all the registered QPIAs in Australia, which is accessible by the public and can be used to search by location or keywords.
There are also networks of Advisors, such as the Aspire Property Advisor Network that can put you in touch with a QPIA in your area. These networks often have their own further set of accreditation requirements to join their membership, above and beyond PIPA’s requirements for a QPIA.
The QPIA logo from Property Investment Professionals of Australia
A QPIA will also have their accreditations listed on their website and in marketing materials – look for the PIPA logo.
Alternatively, you can simply ask your Property Investment Advisor to see their accreditations – an accredited Advisor will always gladly produce their certificates.
Other Considerations
While holding QPIA accreditation is important, it should be considered the minimum requirement for Property Investment Advisors. Prospa Property Advisory is a part of the Aspire Property Advisor Network, which requires all members to pass an even more rigorous screening check, including being a QPIA, holding a real estate licence and a Cert IV in Financial Services, and adhering to a further code of conduct. In addition, Prospa’s advisors work to make meaningful connections with clients that allow them to align the right property for each individual situation.
If you’d like to speak to a QPIA at Prospa Property Advisory, give us a buzz us at 1300 660 335 or send us a message at hello@prospaproperty.com.au.
What are the Common Issues in a New Build for Investment Properties?
