With the rising threat of Seller Impersonation. We have to talk about how to safeguard yourself and your clients by learning how to spot and halt fraudulent real estate transactions.

 

Discover the 3 key red flags that could save you from falling victim to a Seller Impersonation Scam.

​

1. Lack of Verifiable Contact Information: Legitimate sellers typically have established contact details, including direct phone numbers, verified email addresses, and sometimes business addresses. If you encounter a situation where communication is limited to email or a third party, and you're unable to verify the seller's identity independently, it should raise suspicion. According to industry experts cited by the Real Estate Fraud Prevention Coalition, verifying contact information through multiple sources is crucial to confirming the legitimacy of the seller.

 

2. Pressure to Rush the Transaction: Impersonators often create urgency to expedite the sale before suspicions arise. They may claim urgent personal or financial reasons for the sale, pressuring buyers or agents to skip essential due diligence steps. The NAR advises real estate professionals to always conduct thorough background checks and verify the seller's identity through reliable channels before proceeding with any transaction.

​

3. Vacant Land Scams and Seller Impersonation go Hand in Hand: When dealing with vacant land transactions, always verify the seller's identity through multiple sources. Cross-check their identification documents with public records and ensure their contact information matches official records. Consider hiring a title company or real estate attorney to conduct a thorough title search and confirm ownership. Be wary of deals that seem too good to be true and avoid transactions that demand urgent action or upfront payments without proper verification.