Recently, we’ve seen a rise in fraudulent sellers, buyers, and thefts during showings. Below are warning signs to be aware of:
FRAUDULENT SELLERS
- These tend to be out-of-town sellers who are selling vacant lots at underpriced rates, and in a rush.
- They may provide ID, but will typically only communicate via text or email.
FRAUDULENT BUYERS
- These buyers will usually provide ID and proof of funds but typically communicate only via text/email.
- They tend to target high-end properties.
- They may attempt to involve the agent in a conversation about crypto currency, possibly to invest or confuse.
Tips to avoid fraud:
- Use Forewarn: If the individual doesn’t appear in the system, consider it a red flag.
- Request a Face-to-Face Meeting: Opt for a virtual meeting, via applications like Zoom, to verify their identity.
- Mail a Thank-You Card: Send it to the address on their ID to confirm its legitimacy.
- Report Suspicious Activity: Notify your local sheriff’s department. Fraudsters often target multiple victims.
Protecting Properties During Showings
We’ve also noticed a rise in thefts during showings and open houses. Remind your clients to secure all valuables while their home is on the market. Additionally, ensure all doors and windows are locked before leaving the property or restored to the condition in which you found them.
For more on this topic, visit nar.realtor/safety.