Published: 5th November 2014
Why Should You Look To Invest With A Company Who Is An AIPP Member?
The badge of AIPP membership is a reminder to you, the consumer, that a company must follow professional standards and act with honesty, integrity and transparency. When you see that a company is a Member of the AIPP, it means that they have been vetted and approved, and that they have voluntarily agreed to follow and be bound by the industry Code of Conduct.By using AIPP Members to buy property overseas, you get:
REASSURANCE that a Member must act professionally
RECOURSE to the AIPP if problems occur
Remember your responsibilities as a buyer
Buying with an AIPP Member does not mean you can close your eyes and hand over your money – there can be no such assurances or guarantees given.
You have a responsibility to ensure you are informed and protect yourself when buying property overseas just as you would when you buy property in your own country.
However, you should take some comfort from the fact that our Members have voluntarily agreed to self-regulation and each has been vetted before being accepted; AIPP's qualification requirements are based on professional experience. All member companies have also agreed to be bound by our Disciplinary and Dispute Resolution Procedures. We have taken action against our own Members and will continue to do so where suitable.
How companies become AIPP members
For companies to qualify for membership, we ask for a trading history in the international property market (of at least 3 years). Alternatively, some Members qualify on the basis that the person (or one of the people) running the company has extensive previous experience of, or relevant to, the international property industry. All applicant companies must provide third party references, and all applicants sign a declaration confirming that they follow all applicable laws in any relevant country, including the need to be licensed wherever applicable. It is not possible to check whether all the correct licences are held by each applicant company but it would be a breach of our Code of Conduct not to have the correct licences where necessary. AIPP Members pay an annual membership fee to the Asscociation, which is a not-for-profit organisation.
Our ultimate aim is to have all companies selling international property working to AIPP standards. Such a market would be a better, safer environment for you, the buyer of property overseas. Visit 'About us' or read our annual consumer guide for more information.