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May 1, 2024 · Avoid the real estate traps set by scammers. getty. Scams are on the rise, and this includes real estate scams. According to the FBI’s Internet Crime Complaint Center (IC3), business email ...
- Wire Fraud & Financial Scams
- Disaster Contractor Scams
- Rental, Airbnb & Craigslist Scams
- Real Estate Land Scams
- Real Estate Social Media & Online Scams
- Moving Scams
- We Buy Ugly Houses Scams
- Bringing It All Together
Agents must be aware of numerous wire and financial real estate frauds and scams. But let’s first look at the data. The numbers: 1. In 2022, Business Email Compromise (BEC) reported there were 2,284 reported attackstotaling $446.1 million in losses in the real estate industry. 2. Over 71% of consumers surveyed in the 2024 State of Wire Fraud Report...
If you have listings or work in an area that experienced a weather-related disaster, you must inform your homeowner clients about contractor real estate scams. The numbers: 1. In 2023 $9.3 billion was lost to post-disasterfraud. 2. Last year set a record for billion-dollar weather and climate disasters in the US With 28 separate events, each costin...
Short-term rental and other house-buying scams are on the rise. Check out these real estate statistics on tenant and rental scams. The numbers: 1. There were almost $400 million in losses due to short-term rental scamsin 2022. 2. In 2022, 12,000 people fell victimto real estate scams, including short-term rental schemes. Cybercriminals create pictu...
Land scams can be difficult to identify because they involve no inhabitants and locked doors, as is typical when selling a building. The numbers: 1. According to the FBI, real estate and rental scams continue to rise, with more than $396 million lost in 2022. 2. 77% of surveyed real estate professionals reported a rise in seller impersonationfraud ...
Social media is an excellent way for real estate agents to promote their businesses. However, it is also like the Wild West, providing ripe opportunities for scammers to exploit people. The numbers: 1. Losses to scams on social media were $2.7 billion from the 1 in 4 peoplewho lost money to scammers 2. The FBI’s Internet Crime Complaint Center (IC3...
Another one of the biggest real estate frauds is when people need to hire a mover. Check out these stats. The numbers: 1. A four-state operation in 2023 discovered more than 1,000 violations of Federal Motor Carrier Safety Administration(FMCSA) regulations. 2. Consumers lost an average of $836to moving scams in 2023, 7% more than in 2022 Dishonest ...
The numbers: 1. 22.6% of propertyfraud risksoccur when the property is undervalued and its value misrepresented. 2. According to the FBI’s Internet Crime Complaint Center, real estate fraud resulted in nearly $400 million in victim losses in 2022. Buyers target desperate homeowners, often facing foreclosure or financial issues, with lowball cash of...
Safety sells in today’s real estate market. In the aftermath of the massive $418M commission lawsuit, prioritizing client safety is no longer optional—it’s a necessity for survival and thriving and the perfect way to establish your value proposition. Agents can add robust safety practiceswoven into their business model. Build trust, credibility, an...
Whether it's empty promises of lucrative pay days from flipping houses, fake property postings or deceptive mortgage relief schemes, real estate scams are on the rise, experts warn. The issue with ...
Feb 6, 2023 · It typically runs owners between $800 and $1200, and it’s a one-time fee. When a legitimate homeowner has been scammed out of their home, they do eventually get it back—even if a new buyer has ...
Jul 12, 2022 · Nationwide, in 2021, 11,578 people reported losing $350,328,166 due to these types of scams which is a 64% increase from the previous year. Here in the Boston Division, which includes all of Maine ...
Sep 22, 2023 · Earlier this year, the Secret Service issued an advisory warning consumers of this sharp increase in seller impersonation fraud. The dramatic rise in cases has been noticed by real estate ...
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Mar 29, 2024 · Chicago, IL 60654. View. $499,900. 2 Bed 2 Bath 1,450 Sqft. 300 N State St Unit 4432-4433. Chicago, IL 60654. View. At the time of the alleged thefts, Thomas was working for the nonprofit United ...
