This is what neK, Terry and I are saying. Advisers *can* provide advice on direct property.
What they can't do is advise on *an individual property* in the same way they can advise on individual managed funds or direct shares, for instance. For example, an adviser can say 'I recommend you buy 1,000 shares of XYZ Pty Ltd' or 'I recommend you put $10,000 into ABC Fund' but they can't say 'I recommend you purchase the property at '123 Smith Street, Anytown' unless they have an agent's licence.
The way around this is to partner with REA's/Buyers Agents/Developers, etc. to send clients to, who can then arrange a purchase with said referral person if they wish. Besides, I personally think it would be silly, due to the nature of the market, to make recommendations to purchase a specific property.
By the time the advice has been written and everything put in place, there is the very real possibility that the property may have been sold, voiding the recommendation and forcing the adviser to write an additional ROA for a new property.
Some advisers arrange with the REA's/Buyers Agents/Developers to receive a cut of the commission (which must be disclosed in the SOA), some don't.
