How to spot Real Estate scam online

As we know that investing in real estate is profitable but along with that there are huge number of scammers who exploit all the benefits this can go both ways. Either agent or buyers both can play a role of scammer it can be difficult to identify an individual.

Someone might easily come in and claim to be a real estate agent. When it comes to hiring someone or deciding to work with them, today's social media users must be astute.

It difficult to identify a scammer but not impossible

Here is a guide to spot real estate scam online

·         If there is no proper or formalized business page

·         If an agent doesn’t have formalized business page or you notice a lack of professionalism then buyers must understand that things are not going in the right direction. Buyers must be aware of this kind of agent

·         Extensive online review research required

Before investing anywhere extensive research is required buyers must aware about the portfolio of agent, keeping record of his past sales.

·         Website must link with their license number

In order to check the authenticity or reliability of online agents. Buyers have to ensure that their license number must link with their website. This gives the positive sign or enhance the reliability of agent or build trust.

·         If they are not interested to meet in person:

Either agent or buyers are not interested to show up in person this is the warning bell. Person must be aware of those suspicious agents or buyers who don’t want reveal their personal identity

·         If profile is recently created or they didn’t uploaded single personal picture

Buyers must be astute if agent intentionally avoid his personal identity. It shows if buyer face any loss or stuck in any issue or trap in any illegal activity at any time agent breech the  verbal contract  agent did not caught or buyer cant able to reach them or call them in court which sounds drastically horrible , these are the few signs which indicates that something went wrong . Always make sure that agent shows their personal identity or check the profile time, is it active, are they people engage with that

·         Buyers who refuse to be pre-approved by a lender before going house hunting

Those who refuse to offer identification prior to seeing a home. People should never meet someone in person without first determining who they're conversing with. Agents who meet with leads they found on social media should inform their office of the location and time of their encounter, as well as the identities of the people they'll be meeting. Before a property showing and legitimate contracts are engaged on the client side, money should never change hands

Read More: https://beaconinvestment.org/

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Created on Sep 27th 2021 01:58. Viewed 248 times.

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