The recent steady rise in property prices has heralded the return of the property spruiker.
But this time around, the corporate watchdog is moving early to crack down.
The Australian Securities and Investments Commission says some sales pitches that offer advice on increasingly popular self managed superannuation funds could be breaking the law.
In the last major property boom a decade ago, the so called "get rich quick" experts made a name for themselves spruiking real estate.
LISTEN: Business editor Peter Ryan examines the return of the property spruiker.
Some investors made big money. Others less fortunate lost their life savings. And a few spruikers who broke the law went to prison.
But now with property prices on the rise, there is evidence that the property spruiker is back.
And self-funded superannuation funds are the new targets, according to ASIC commissioner Greg Tanzer.
"We're certainly seeing an increase in advertising that's specifically directed to SMSFs," he said.
"We know that there are a number of SMSF investors who, like many Australian investors, have an affinity with property. And there's nothing wrong with that, provided you understand the limitations, some of risks that you're taking on."
ASIC says some spruikers could be breaking the law.
Mr Tanzer says some spruikers who try to sell property into self-managed funds are are not licensed to offer financial advice.
"If you want to extol the virtues of investing in property, obviously that's something that's just subject to normal state and territory laws," he said.
"But it's where you are doing that in the context that you're encouraging that investment through an SMSF, ASIC's jurisdiction might be enlivened."
The one-time real estate agent turned consumer advocate Neil Jenman says there is no doubt the property spruiker is back.
"They've gone into their hibernation for a few years but they're certainly back in force at the moment," he said.
Mr Jenman has been running seminars of his own around the country, warning about the perils of bad advice - especially ones involving retirement savings.
"It's what they call FOMO. Everybody seems to be suffering from FOMO, which is fear of missing out," he said.
"And the spruikers have headlines. And one of them has actually got a headline - we are about to enter the greatest boom in history. Don't you be the one to miss out. Come to my free seminar and I'll tell you what to do, provided you give me $25,000 after that, of course."
Mr Jenman believes ASIC is right to be concerned.
"People are, without realising it, already losing thousands of dollars," he said.
"I mean, they're selling property in America for goodness sake. The difference is, if you went America to buy them yourself, you'd find that you'd probably be able to get them for nothing because they can't give them away in some parts of America."
But ASIC is moving quickly this time to head the spruikers off.
Mr Tanzer is keen to ensure history doesn not repeat itself.
"We've seen examples in the past where people have been burned by getting into property investments that might be overpriced, that might be promised but not delivered," he said.
The Reserve Bank is also worried and says the use of property in self-managed super funds is one area where households might be taking on risk.