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Technology, Is It A Good Thing or a Bad Thing?

By
Real Estate Broker/Owner with Riede Real Estate, Lic. 01310792

Real Estate FraudSacramento saw a Realtor and several unlicensed mortgage lenders picked up by the FBI this week for fraud.

Don't let your guard down, there's plenty more out there.

Real Estate fraud is alive and well gathering more victims each day.

Just this past week, as I had my ears to the ground, I learned that fraud had occurred right here in Sacramento again.  Not just once but three times with REO properties.  Renters were the easy targets. It seems that three Bank Owned properties had been unscrupulously rented by a woman posing as a Realtor.

Yes, this woman rented out  three REO properties and collected the security deposit, first and last months rent from unsuspecting renters. No, she was not a Realtor but was using the name of a Realtor. To read more about this story, click on Real Estate Fraud Victims Once Again.

Can you imagine, having just lost your home to foreclosure, looking for a house to rent only to find yourself a victim of real estate fraud?

In this day and age where most transactions start on line, use email or text messaging and the social aspect of getting to know a person is by-passed, fraud is ever so much more prevalent. It's a lot harder to pull off a scam when you meet a professional at the office, check their credentials through the California Department of Real Estate and meet face to face or actually talk.

Do you know for a fact the person is the person you think you are working with?  Are you sure, they are who they say they are? Are you just emailing, text messaging and assuming you are "communicating" with a Realtor? What do other home buyers and home sellers say about the Realtor?

Don't get me wrong, I'm not advocating getting rid of the Internet or Email or even Text messaging (although I must say I find it very impersonal) but all of these things have their place and should not be used exclusively. There is nothing that beats, eye to eye contact, establishing a rapport and learning about a person. So much is gathered when you take the time to get to know the professional Realtor.

I am not advocating getting rid of technology but don't you agree that the personal touch is needed?

What are your thoughts on how technology both helps and henders society?

Comments(41)

Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Barbara, I quite agree. I'd like each and everyone of them caught. Not sure that we have enough prisons for them all. I'm inclined to paint a BIG red letter F for fraud on the forehead that won't come off and allow them to roam free...how about you?

Jun 28, 2008 10:07 AM
Diane Bell, Hilton Head Real Estate, Bluffton
Charter 1 Real Estate, Hilton Head, Bluffton, SC - Hilton Head Island, SC

I've heard this scam has been alive and well for several  years.  You make a good point!

Jun 28, 2008 10:31 AM
Marie LaVoise, CENTURY 21 Platinum Properties
CENTURY 21 Platinum Properties - Clarksville, TN

Its amazing to me that people will spend more time scamming and defrauding than holding down a real job. I like the big letter F idea.

Jun 28, 2008 12:31 PM
Michael and Cheron Lange
Solutions Real Estate - Chandler, AZ
Associate Broker, GRI

I find it amazing the things that people do...but then again, I shouldn't be surprised with today's society.  Who do you trust?

Cheron Lange

Jun 28, 2008 12:44 PM
Ann-Marie Clements
Candidate for an Ed.D. in Educational Leadership - Saint John, NB
Ed.D. candidate, Innovative Proactive Principa

Criminals are always finding the loopholes the rest of us choose not to do.  It's a sign of the times, the economy will do things to some of us that most of us wouldn't think of doing...

                          ;>)

Jun 28, 2008 01:07 PM
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

The term "con artist" didn't originate with the internet.  It is just a different way to interact.  The flip side is that it is easier to use the same technology to check out the people you are doing business with. 

Jun 28, 2008 02:13 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Diane, I guess what's old is new again. Everything in this day and age is at a fast paced whirl...with so many scams and fraud it seems prudent to slow things down a bit especially when dealing with money. I know I value keeping mine and I would assume most others feel the same. So, it only makes sense to take the time to REALLY know who you are doing business with.

Jun 28, 2008 02:45 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Marie, sounds like we are on the same wave length. It would certainly save us all money for prisons and warn others of their presence. I think it's a winning idea.

Michael, it's a hard world we live in now, one with a lot of skepticism and rightful so. Our profession has quite a hurdle to overcome with all the scams and fraud abounding. I think we have to be ever so much more diligent in making sure that we are a cut above the rest and giving good sound advice. Making sure that our business model always includes that personal touch and keeping our clients informed so they are not left to be victimized.

Ann-Marie, I know what you are saying but I just can't imagine that a person's character could change that much. I'm pretty sure that no matter how down and out I could ever get, I wouldn't resort to criminal activity. But, I guess there are those that might and do.

Jun 28, 2008 02:53 PM
Roland Woodworth
Blue Cord Realty - Clarksville, TN
Blue Cord Realty

Todays technology is great. E-mail is a great way of communicating with clients.  There are a few bad apples out there for sure...

Jun 28, 2008 03:01 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Lane, absolutely. The Internet is great for finding information but at the same time, there is nothing to stop a scarn artist having information on the Internet, too.  There needs to be more than just assuming that if someone is on the Internet they are legit. Plus there are those who steal legitimate people's identities everyday.  

So, at the end of the day...that personal touch, that meeting at someone's office confirming they are who they say they are, are all so very important.

I know that won't stop all of the scams and fraud but at least a Realtor's identity would be a little harder to assume.

Jun 28, 2008 03:04 PM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

The Internet is good for some things. I think it makes for a more level playing field for the public and I love email. However, people think a real relationship is chatting on the Internet. Some people cannot spell anymore because all they do is text. And fraud can be committed on a larger scale. Over all, I approve of technology, but I wonder how all this is going to affect the evolution of our species.

Jun 28, 2008 03:05 PM
Jack Climer
Jack Climer Realty, LLC - Springfield, MO

It is not the technology,,,,, we could not function without it, I am not ready to go back to the pony express...

Jun 28, 2008 03:06 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Roland, oh believe me I love the Internet and technology, I just hope that we don't as a society and as a profession forget the personal side of eye to eye contact. A balance would be good.

Wayne, my crystal ball broke awhile back but my guess is that the new generation that has been unnamed so far (I call them Z  generation) will be less communicative since according to surveys spend much of their time in front of a computer, TV, cell phones and texting. The days of playing outside with your buddies and learning to get along with one another learning social skills is being lost.

I do hope that we see a reverse trend and grab onto more of the social aspects of society while there are still those of us left that know what it is like.

I have faith in mankind...everything usually old returns again...so I'm hoping for the return of eye-to-eye contact...there's nothing like it. All things in moderation.

Jun 28, 2008 03:13 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Jack, don't worry I'm not suggesting that we go back to that...although I never lived in that era. I love technology, too but there is a happy medium and there are aspects that are being left out so all I am suggesting is that since we have gone way over to the right...how about being towards the middle.

That might help with the obesity problem that we have in society, it might help people learn how to communicate, learn to spell again and cut down a tad on some of the fraud.

Do you agree that nothing in life is good when its in excess? What are your thoughts now that you know I an not advocating getting rid of all technology?

Jun 28, 2008 03:20 PM
Susan Goulding
Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management - Tracy, CA
Northern CA - Tracy & Mountain House Real Estate

it's even more than this -- want to know how many owners are renting out their home while they move elsewhere  --- collecting rent -- while they don't  pay their mortgage for 6 - 9 months.  Oh yes it's happening eveywhere

Jun 28, 2008 05:11 PM
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

You Definitely have to be on your guard when renting.  You have to make sure the house is not in foreclosure too.

Jun 29, 2008 12:59 AM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

If she wasn't a Realtor, but used the name as a Realtor, how did she get in the house to rent it. I guess I'll go read the article it is probably in the link you provided. I wrote on a scam last week about a licensed Realtor giving out the codes to a person who robbed all the owners blind.

WE can never be too blind.

Jun 29, 2008 02:07 AM
Robert Rauf
CMG Home Loans - Toms River, NJ

Fraud is everywhere, we just need to use our radar and walk away when our gut tells us to.  I said "no" to a deal a month or two ago, and when the agent asked me why, I said it was because of the "F" word... It stunk so bad that I wanted to take a shower.  No single deal is worth risking your reputation or worse, having to wear an orange jumpsuit for a few years.  The FBI doesnt mess around there are a few people that are "away" for a few years for what they thought were innocent things.... I was just about to write a post on the latest fraudulet trend....

Jun 29, 2008 02:17 AM
Anonymous
Scott Wooters

Technology should be employed to support your efforts.  Technology and services that allow you to maximize your core competencies should be the priority (the time they save you can be directly tied back to your business).  Consumers are not interested in customer service anymore - they demand Customer satisfaction - and that means communication, responsiveness, and most importantly effectiveness.  And from your perspective, tools need to provide a solid return on the investment.

Jun 29, 2008 02:29 AM
#40
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Susan, back to character and since of pride...now it's anything goes as long as I can get away with it.

Russ, yes you are right. The houses I referred to were REO's and definitely NOT rentable.

Missy, she broke in and had the locks keyed.

Robert, ah yes there is nothing worth wearing an orange suit for. And fraud is alive, well and spreading like wildfire. The big word is a resounded, NO! You are a man of character, ethics and pride.

Scott, everything you said is absolutely true and I would add that as time marches on, my hope is that customer service will once again rate right on up to the top. There is an entire generation who really doesn't know what good customer service is and don't know what they are missing but maybe someday they will want someday as old fashioned as customer service along with technology.

We baby boomers remember what it is and appreciate it.

Jun 29, 2008 02:51 AM