He provides information on all topics related to buying real estate. “Learn how to buy real estate, rent it out and become wealthy,” says his profile on the photo platform Instagram. Almost 888,000 people follow the Stuttgart native on Instagram, and 1.1 million on TikTok.
But now serious allegations are being made against the influencer in Germany. According to research by NDR and Spiegel, Primorac and a sales network associated with him are said to have brokered properties that then turned out to be major bad investments for the buyers of the apartments.
The research documented cases in which buyers paid up to 50 percent more than necessary. The properties were said to be in poor condition and sold at significantly too high a price.
In addition to the accusation of having marketed junk properties, NDR and Spiegel also have access to financing contracts that are said to be rather unfavorable for the buyers. These are a combination of a loan agreement and a building savings contract with terms of 20 years or more. The contracts do not provide for repayment, so only interest is paid, but the loan does not decrease.
According to the purchase contracts available to the two media outlets, high commission payments are also said to have been made to the influencer Primorac. Primorac denied the rip-off allegations to Spiegel and NDR, but did not go into detail.
However, he has now spoken out on the short video platform TikTok and admitted to some problems with a project developer who “did not take proper care of renovations and refurbishments”. However, he said, these are not mistakes that cannot be eliminated, his team is working on them – even if some of the problems are not their own responsibility.
Warning of total losses
According to a study by the St. Pölten University of Applied Sciences and the consulting firm Paradots, “Immo Tommy” is one of the most successful finfluencers in Germany with his accounts. An advertising partnership with Immoscout24 and the invitation of the German Finance Minister Christian Lindner to an influencer meeting in the ministry have so far underlined his seriousness. Financial regulators advise not to blindly follow tips from the Internet and warn of possible total losses. Many followers are not a seal of quality.
