Fraudulent real estate listings are rising throughout the country. We have recently had numerous instances of this occurring in southeastern Wisconsin. These fraudulent listings disrupt transactions and harm your clients.
With the spring market underway, we want to remind you of a few points so you don’t find yourself dealing with a fraudulent client. Learning common warning signs is the best way to protect yourself from real estate scams.
4 Steps to Take to Avoid a Fraudulent Client
1. Meet with your clients in person and not exclusively over email.
2. Verify your potential client’s identity. Search the local municipality website to find out who the current property owner is and look for contact information online or request a copy of their driver’s license.
3. Never engage in off-MLS transactions, no matter how good the deal is. This has become a common spot for fraudulent listings to occur.
4. If the listing seems too good to be true, or something seems off, double-check and seek a second opinion.