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Is Your Real Estate "Agent" a Fraud?

By Lee Davenport

Education & Training

March 10, 2015 10:31 AM

Originally written for and published by InMyArea.com

Professional website? Check. Realty firm business cards? Check. Access to the home you are interested in? Check. Those are typically the signs that you are working with a credible real estate agent, right? Not necessarily!

Unfortunately, this South Carolina story is not the first incident of someone falsely posing as a lawful real estate agent but hopefully with the help of this article, it will be the last.

Photo from Flickr - modified with text

Take this one-question quiz to see how savvy you are in your home search.

If you are looking for a new space to call home and see an advertisement for a great home, do you:

A. Call the number on the ad and arrange to meet the person as soon as your schedule permits.

B. Call the number on the ad and offer to send a deposit to reserve the home sight-unseen.

C. Call the number on the ad and verify that person is a legal owner or representative of the home.

D. I would like to start doing C but I typically do A or B.

What did you select? Since you do not have to turn in your answers (stop having flashbacks to those gruesome school exams), be honest with yourself because being self-aware just may save you from a precarious, unwanted situation the next time you are looking to move.

The correct answer is C. I am sure this answer seems obvious in the line-up given but realistically how do you make sure the housing advertisement you are seeing is not a scam? Well, here are two easy steps.

>>Read more by clicking here.

By the way, follow me on Google+ and Facebook for more tips and techniques. Also, if you are a real estate agent or manage agents, learn how to GROW or RE|VAMP your business with us today. Here's to your success!

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Bob Publicover

Publicover Realty Group, inc - Stuart, FL

Thinking outside the box

Great point Lee, Too often we just accept people as what they claim to be without verifying their credentials. First clue there may be "fraud" in the wind is a requirement for money deposits. Buyer beware!!

Mar 10, 2015 10:42 AM

Ed Silva, 203-206-0754

Mapleridge Realty, CT 203-206-0754 - Waterbury, CT

Central CT Real Estate Broker Serving all equally

People are convinced that the only person to call is the name on the sign and may feel it is the best way to get a deal.

Mar 10, 2015 10:59 AM

Lee Davenport

Sandy Springs, GA

Learn With Lee: Real Estate Coaching & Consulting

Bob Publicover - thanks for reading! It is a shame that such deception exists but since it does, we have to take all of the precautions.

Mar 10, 2015 11:01 AM

Bob Publicover

Stuart, FL

Ed Silva you are right but unfortunately a sign can be printed in less than a hour by anyone. Hopefully folks will begin to verify credentials. Thanks for reading!

Mar 10, 2015 11:03 AM

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

Um, how about calling your own agent to see about getting in the door? It's really hard for the average Joe to verify an owner or agent's credentials.

Mar 10, 2015 11:23 AM

Hi Patricia Kennedy , that is the exact point I made :). Be sure to click through to read the article in its entirety. Thanks!

Mar 10, 2015 11:27 AM

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

Call your own agent as Patricia says, let them make sure it is legit.

Mar 10, 2015 11:35 AM

Evelyn Johnston, but the key is knowing if your "agent" is legit, which is what has been the issue since some are posing fraudently. Thanks for reading!

Be sure to click through and read the full article everyone. Due to the publisher's copyright, we could only link to the rest of the article but I am glad to see this has started a conversation nonetheless!

Mar 10, 2015 11:41 AM

Ted Glover

Alderman Classic Realty, LLC - Moultrie, GA

ABR in Moultrie, Georgia 229-854-5422

Lee Davenport I understand the issue. We think as agents and not the everyday Joe or Jane looking for a home through some ads. Most don't have the knowledge to look agents up through the Real Estate Commission's website. A very simple way is to call on a local broker and start verifying the credentials of the agent or person posing as one. Most everyone knows a real estate agent. Hopefully an honest and ethical one.

Mar 10, 2015 01:09 PM

Winston Heverly

Coldwell Banker Access Realty - South Macon, GA

GRI, ABR, SFR, CDPE, CIAS, PA

I guess this stuff happens, I just have not come across it personally.

Mar 10, 2015 01:12 PM

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Lee so many con artist out there, and it is tough for those who are not in the industry to know who to trust. That is why the best source is a referral from someone you trust and knows the individual.

Mar 16, 2015 08:51 AM

Inna Ivchenko

Barcode Properties - Encino, CA

Realtor® • GRI • HAFA • PSC Calabasas CA

It is true, I always try to verify before my listing appointment who is the owner by pulling basic public records. It helps in many ways, for example of the property is in a trust, you got to use different package. Or it can be a potential short sale.

Jun 12, 2015 05:04 PM

Agreed Inna and George! Crazily, I just recently heard how an "agent" was using a listing as a prostitution ring - that person was not a licensed agent at all but an imposter.

Jun 12, 2015 10:01 PM

Is Your Real Estate "Agent" a Fraud?

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