Published December 3, 2020
Three Tips to Avoid a Scam
Nobody wants to be at the heart of a scam! Knowing that you had any involvement with scammers who are taking money from innocent people, feels disheartening. Sadly, many people are finding themselves at the heart of sinister internet scams. Especially in times of increased national anxiety and hardship, scammers can be ruthless.
How This Real Estate Scam Works:
A scammer takes photos and a listing description from a legitimate website. Then the scammer creates a bogus ad for a rental on a site that doesn’t verify all their information (usually at a price that’s too good to be true) and then lures unsuspecting home shoppers into a trap. Much of the time, out-of-towners and those hunting sight unseen are especially prone to these setups. The fake owner will make up a convincing story to trick a potential renter to send funds for a background check, rental application deposits, or a holding fee. Then you’ll never be allowed to tour the home in person and likely the bogus seller will disappear. Buying or renting a new home is already an emotional process, losing valuable time and money is something no one has time for.
How do you avoid getting scammed? Here are a few tips from real estate pros for how to avoid these sorts of internet criminals:
Use a Trusted Realtor’s Website to Search: Many house hunters are drawn to sites like Craigslist and Zillow to search for their next home. These sites may seem easy and accessible to sift through, but the lack of oversight makes them much more prone to scams. Unlike our website, there’s no confirmation process to ensure a listing is legitimate and anyone can post, regardless of ownership status. This is why your first step should always be to search from a trusted realtor’s website like ours. We have access to all the homes in the local MLS on our site, not only our team’s listings, and in many cases have more available listings than the other sites. Plus, you can search using a variety of criteria that suit your needs.
Know When Something is Too Good to Be True: When you’re desperate to find your dream property, it can be hard to use good judgement. Seeing an amazing location, incredible photos, and a stellar price is easy to get caught up in. While you can avoid becoming prey to these scams by starting your search on a reputable realtor’s site, you can also use a critical eye to know when something just isn’t right. If a seller seems to have an excuse for everything, wants money up front, or isn’t willing to show you the home in person before you send funds- it’s a good idea to step away. If the price is tons lower than comparable listings on the same block, it’s a good idea to get out. Trust your gut, and don’t be afraid to distance yourself.
Have a Trusted Agent on Your Side: A trained real estate professional knows how to spot a scam. We have access to legitimate MLS information and can do the research if you stumble across what looks like a scam. We are here to be your advocates and will sound the alarm when the red flags start popping up. Having someone who knows the local market, knows how to do the research, and has real estate connections is vital. Don’t be tempted to go it alone. Having a qualified agent on your team is going to protect you from wasting your time and your money on a scam listing.
While it feels extra scary to embark on the home search in uncertain times, it’s important to know that you aren’t alone. Remember, as a home buyer or renter, there’s no commission costs for you to pay, these fees are paid by the seller/landlord. Our agents are here to help you. From our website to our experienced team, we are on your side from the minute you begin your search. Use these tips in conjunction with your agent to make smart moves in your journey.
