Special offer

Caution: Email is NOT for everything!

By
Services for Real Estate Pros with Marte Cliff Copywriting

You may already know about the scam that I read about on Realty Times this morning…

If not, then be forewarned. The telephone, the printed word, or an in-person meeting is still the best way to keep sensitive information away from the vultures who would prey on your clients. vulture

It seems that hackers are getting into real estate professionals' email accounts to gather information, then using that information to divert closing funds on their way from a buyer's account to a closer's account.

I can't imagine how it must feel to have thousands of dollars intended for a down payment and closing costs to suddenly disappear. For many, if not most, it would mean no new house – and perhaps no new house for a good long time.

And of course, it would mean no commission check for you. 

The whole issue could be prevented by simply using the telephone in place of email – or by writing an actual paper letter or sharing the information in person.

If you missed the article, you'll find it here: http://realtytimes.com/consumeradvice/buyersadvice1/item/41183-20151229-hackers-continue-to-perpetrate-wire-transfer-fraud-in-real-estate-transactions

Keep your clients safe - pick up the phone.

 

Vulture courtesy of morguefile.com

Comments (24)

Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Marte...I really wish people would find a constructive use of their time instead of doing harmful, destructive things with it. 

Dec 29, 2015 07:52 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Barbara Todaro Yes, it is horrible. Talk about having your dreams shattered!

Anna Banana Kruchten Thanks. Yes, we had a good Christmas. Our celebration was postponed until our power lineman son got off work, so it wasn't until the 27th, but it was still fun. 

Meanwhile - high alert is the place to be in this case!

 

Dec 29, 2015 07:53 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Nicole Doty - Gilbert Real Estate Expert I think you are helpless against them - which means that using the phone makes a lot better sense. 

Carol Williams I think of that often. All the good brain-power that gets used for harming others. It's a shame. 

Debbie Laity I suppose this is the easiest use - and the fastest way to big dollars. Some folks have no sense of right and wrong - or just don't care. 

Dec 29, 2015 07:55 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

Thankfully we seldom wire funds into escrow in this state, but the scammers think of everything, don't they? It's very risky because in most cases, the down payment is the buyer's life savings.

Dec 29, 2015 08:28 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Pat Starnes Yes. Talk about heartbreaking. 

Dec 29, 2015 08:50 AM
Women of Westchester Working Together
Women of Westchester Working Together - West Harrison, NY
Women helping Women get ahead

Gosh, this is so incredibly sad.  Smart to warn people so they can warn their clients.

Dec 29, 2015 09:42 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Marte- I'd heard something about this and it is so important that agents warn their clients of this. 

Dec 29, 2015 10:27 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I always tell all my clients to phone verify the email with wiring instructions with the closing attorney.  This has been around for a while.

Dec 29, 2015 12:46 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Women of Westchester Working Together Yes. Apparently this has been going on for quite a while - a terrible thing for people who have saved for years to own a home. 

Kathy Streib From the article I gathered it started in California and is now spreading - like some kind of dread disease. This is one of those situations that should be on national news shows - LOTS of them. 

Dec 29, 2015 12:46 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Good for you Tammy Lankford. This issue makes me think of all the other information that should not go into an email - like account numbers, social security numbers, birthdates, etc. 

Dec 29, 2015 12:59 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Marte. This is absolutely scary. I guess you can't be too careful.

Dec 29, 2015 11:11 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

We actually have a new disclosure clients must sign as a result of these scams.  The world is a sad place.

Dec 30, 2015 05:01 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Sheila Anderson No, and isn't that sad? I remember being a teen and my Grandmother giving me her department store card and telling me to go buy a new dress. There was no problem about it at all. (Back then they were metal - wish I still had hers, just for fun.) Not all that many years later (25?) I sent my teen son with my card to buy lawn chairs and they refused him. 

 

Dec 30, 2015 06:17 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Chris Ann Cleland It certainly is sad that the world includes people who believe that they're entitled to take whatever someone else worked for. I'm glad you have the disclosure to warn people. 

Dec 30, 2015 06:18 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Wow Marte.....Hard to believe it was refused now. Happy New Year.   Sheila

Dec 30, 2015 06:43 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Sheila Anderson Perhaps it wouldn't be now - it's a long time since my son was a teen. However, it is supposedly becoming harder and harder to use someone else's cards. 

Happy New Year to you too! 

Dec 30, 2015 07:13 AM
Fred Carver Real Estate Consulant
Retired BC Realtor - Victoria, BC
Accredited Real Estate Consultant

Hi Marte Cliff  Thanks for the heads up

Dec 30, 2015 12:52 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

You're welcome Fred Carver Personal Real Estate Corporation - it's too bad we need to be aware of such things, but we do! 

Dec 30, 2015 01:07 PM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Marte, we are getting weekly alerts from out association about these scams, and it's sad that people really are losing money.  We are alerting all of our clients to ignor emails from title companies with wiring instructions and are using alternative communications.

Jan 02, 2016 08:36 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Patricia Kennedy I'm glad you're getting alerts and keeping your customers safe - it's so sad to think that people might lose their life's savings to rotten scammers. 

Jan 02, 2016 12:52 PM