September 3, 2010
Feb 8, 2010
08:17 AM
Deal Estate

Nothing 'free' about T.O. seminar scams

By Harry Stinson

I am not going to criticize real estate seminars on an 'across-the-board' basis. Frankly, I have presented many myself (and still do), have appeared at events organized by others, and have met some genuinely helpful and honourable real estate speakers.

However, there are far too many events being promoted that are pseudo-educational shakedowns with no other purpose than enriching the supposed 'teachers' -- and real estate does seem to have more than its share of flamboyant and superficially charismatic gurus.

Not only are the expectations generally unrealistic in dollar value, but most of the "insights and techniques" are applicable (only barely) to the U.S. legal and financial environment (and in the past).

Ironically, there seems to be some growing mutual disappointment on both sides in this get-rich-quick environment as the greed of the seminar promoters is being met with increased resistance and skepticism.

It's not just the ludicrous price (for your PhD in Gullibility) that's a turn-off -- it's the low quality of the con.

At least Bernie Madoff put on an opening act, providing some initial returns as an incentive to his investors and disciples.

The worst of the real estate pseudo-messiahs are hard-selling their "advanced" courses even before the first coffee break of the 'free' seminar.

Actually, it can be entertaining. Pick up a copy of Glengarry Glen Ross for instructions on revenge.

Harry Stinson was one of the first Toronto developers to recognize the potential for urban condominiums, to develop residential lofts, and to convert old office and warehouse buildings into residential spaces. His current project is the Stinson School Lofts, an 1894 heritage building in Hamilton, Ont., that he is converting into stylish and affordable lofts.
 

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