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Top 3 Real Estate Scams that Agents (and Their Leads) Should Be Aware Of

Posted by Kenneth Palmer

Apr 11, 2017 6:50:00 AM

realestatescam.jpegReal estate is complicated enough on it’s own without scammers making the process harder for everyone. Often times, real estate scammers will take advantage of people that do not have the time or experience to know that they are being scammed. We’ll explore the top 3 scams that are out there right now and how you as a realtor can inform your leads, clients, and community.

The top 3 real estate scams (and how to combat them):

Craigslist scam -

This one has been around for awhile but unfortunately, people are still falling victim to it. The way that this one works is a scammer will post pictures of a home whose family is on vacation or that is under foreclosure.The victim then pays the scammer a deposit and typically the first and last month’s rent.

The “I’ll sell your home in X days or buy it myself!” scam -

While there are certainly go getter agents out there that are able to turn around houses very quickly, there are also some that are scammers. The way that this is accomplished is that the fine print states that the agent may continue to lower the price without consulting the seller or that the client MUST buy a home through the agent. Worse yet, if the agent is not able to sell the home within the allotted time they will buy it, but for much lower than market value.

The Title Fraud scam -

Undoubtedly one of the most sinister though is the Title Fraud scam. In this scam, the scammer steals the identity of the actual homeowner and files for a new mortgage on the home. Once the mortgage is secured, the scammer takes out as much money as they can and then leaves the bill for the homeowner to sort out.

These scams do not just hurt the person being scammed. Once the news reports on issues such as these, the public’s trust can be compromised in the real estate process. But there are several ways for you to combat these scams and emerge as a trustworthy agent.

The first solution would be to blog on topics such as how to spot a scam and include links to recent examples of scams in your area. Another great method for educating the public is through social media. Not only will this help people in your area, but it’s a great way to build your brand as a trustworthy agent.

As stressful as the home buying/selling process can be for your leads and clients, you can make it far less stressful through educating your audience on how the real estate process really is (and what it should look like). By putting your leads and clients first, you’ll be building the foundation of great communication. In time, that communication becomes the foundation of a strong and lasting business relationship.

 All relationships have to start somewhere and need constant work. To find out how Zurple’s software helps build and nurture those relationships, talk with a team member today.

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Topics: Practical Advice

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