A penny for your thoughts, what comes to your mind when you first read the topic? Did you remember a time you or someone you know was scammed by a fake real estate agent? Let’s face it, some of us have fallen victim in one way or the other to real estate scams by persons who claim to be real estate agents.
A real estate broker, real estate agent or realtor is a licensed professional who serves as the facilitator of real estate transactions. They are ultimately responsible to bring buyers and sellers together and are paid a commission—a percentage of the sale price.
Fake and real estate agent. It’s funny how fake and real are both opposite words, but are in the same sentence. Let’s show you how easily you can spot a fake agent or agency from a mile away. Here are red flags to check out for.
The real estate agent isn’t licensed or not registered with a real estate company.
He or she asks you to pay into bank account details not bearing the real estate companies name.
There are no certifications or C of O when you buy the land or property.
They act shifty, they do not answer your questions in a clear manner or at all.
They provide some figures or numbers in your face to confuse you.
They can’t give a detailed account of the payment plan, they keep asking for money for some unforeseen cost.
They try to make you sign a non-disclosure agreement that silences you from speaking to anyone you know about it.
When you request to be taken to the site, they take you to a marked land or property and try to convince you that it is nothing.
They make sure you know little information about them.
Here’s what you can do to avoid being scammed by a fake real estate agent;
Follow the proper procedures when putting down deposits: meet with the realtor, visit the property, see some paperwork, make sure it’s all as advertised, never wire money. Take extra steps and verify everything from legit sources and most importantly verify that you have one of these 4 Documents to prove Land ownership