The American Genius for Real Estate

MARCH 4, 2021

(REAL ESTATE TECHNOLOGY) As real estate scams increase, services such as Fireball Approves are joining the fight by offering an array of background check services. The post Avoid real estate scams with these virtual investigators appeared first on The American Genius Real Estate.

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Realty Biz

MARCH 30, 2021

The ancient notion of “Buyer beware,” or caveat emptor, is particularly important when it comes to real estate. So, for anyone looking to dive into the real estate market, a couple of key factors are critical for protecting one’s money as well as obligations in a home loan before becoming a statistic as well.

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Housing Wire

APRIL 10, 2024

In 2023, the FBI received 21,489 complaints about business email compromise , which is how most real estate fraud is conducted, totaling to $2.9 billion in losses, making it the second costliest type of crime for the year behind investment scams.

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Bigger Pockets

APRIL 6, 2023

Real estate scams and Ponzi schemes have been around for centuries, but with the advent of the internet, social media, and digital banking, more and more scams and schemes have […]

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Housing Wire

SEPTEMBER 6, 2023

The safest way to verify information is through automated, real-time, source-data verification, which is FundingShield’s expertise. Wire and title fraud risk were on the rise in Q2 compared to the same period in 2022, according to a report from FundingShield that did an analysis of a $68 billion portfolio of real estate closings.

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Housing Wire

APRIL 12, 2023

Among those targets were a Memphis-based real estate company and a title company in Washington state that combined were swindled out of more than $200,000 through the scam. The victims targeted can be lenders, real estate agents, title companies and other escrow agents, attorneys as well as homebuyers and sellers.

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Housing Wire

FEBRUARY 23, 2023

Behind the scenes, title and settlement professionals collaborate with partners across the real estate industry and all levels of government to protect consumers and strengthen communities. These NTRAPS create impediments and increase the costs and complexity of financing or transferring real estate.

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Housing Wire

OCTOBER 13, 2023

Berg told ALTA One attendees that they should be particularly wary of escrow account “shenanigans” and that they need to keep tabs on how builders and real estate agents are shifting funds around through escrow accounts. You all in this room are the biggest targets for impersonation in a real estate transaction.

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Bigger Pockets

MARCH 5, 2024

Having your rental property stolen?! How is that possible? This would be a worst-case scenario for any investor, and it was nearly reality for today’s guest. Buckle up as we […]

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Housing Wire

DECEMBER 7, 2023

Editor in Chief Sarah Wheeler sat down with Tom Cronkright, co-founder and executive chairman of CertifID and CEO of Sun Title , to talk about battling the latest frauds and scams as bad actors leverage a new arsenal of tech tools to wreak havoc on buyers and sellers of real estate. The scams are always evolving.

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Housing Wire

SEPTEMBER 18, 2023

In today’s evolving technological landscape, wire fraud is a pervasive risk, particularly in real estate transactions. According to the FBI’s 2022 Internet Crime Report , the problem is only worsening, with an 86% increase in monetary losses in the real estate industry since 2020. What Is wire fraud?

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Realtor.com

MAY 6, 2022

We also wrap up our thoughts on “Selling Sunset” Season 5, crown this week’s real estate winner , and share our brutally honest thoughts on the newest HGTV show, “ Lil Jon Wants To Do What? We discuss this case and try to figure out how on Earth the accused parties pulled it off.

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Housing Wire

JULY 17, 2023

With real estate inventory at a near-record low, buyers seeking a place to call home are facing stiff competition as bidding wars continue to be commonplace. According to a recent survey, 73% of real estate firms reported an increase in seller impersonation attempts this year. We can reverse this trend.

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Housing Wire

MAY 26, 2023

The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. But as the housing industry has gotten better at tackling it, fraudsters have been hard at work developing more creative scams. Then, posing as the property owner, the scammer contacts a real estate agent to list the property.

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Housing Wire

AUGUST 28, 2023

These credit repair giants used fake real estate and rent-to-own opportunities to illegally bait people and pad their pockets with billions in fees,” CFPB Director Rohit Chopra said in a statement. This scam is another sign that we must do more to fix the credit reporting and scoring system in our country.”

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Housing Wire

JUNE 19, 2023

Last month, ProPublica reported about a real estate flipping company that is targeting vulnerable homeowners, and using deception [and] coercion to close sales,” Smith told Chopra during the hearing. Tina Smith (D-Minnesota) asked CFPB Director Rohit Chopra about the company and any potential actions that the Bureau could take.

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The Residential Specialist

FEBRUARY 27, 2024

Agents must stay vigilant as fraud and scams become more prevalent in the residential real estate profession By Jason Henninger Anywhere there are financial transactions, the threat of fraud comes with them. Real estate is no exception; high-dollar sales mean creative con artists bring their A-game.

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The American Genius for Real Estate

JANUARY 8, 2021

(HOMEOWNERSHIP) Real estate scams continue to victimize people, but Realtors are in a position to better protect homebuyers. The post How to inform clients about scams that continue to victimize homebuyers appeared first on The American Genius Real Estate. Here are some tips.

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HomeLight

MAY 3, 2024

Here are some strategies to help you find reliable cash home buyers in Chicago who might offer a fair price for your property: Work with a reputable local real estate agent Even if you’re leaning towards a cash sale, working with a reputable local real estate agent can streamline the process.

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Housing Wire

MARCH 8, 2024

If you sold a home and paid a commission to a real estate agent, you may be part of class action settlements,” the postcards read. She also noted that by not informing clients or others in your sphere of influence, agents may be preventing people from potentially not joining the settlement because they think it is a scam. “If

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Broke Agent Media

FEBRUARY 16, 2023

As a real estate professional, you need to know exactly how land scammers operate, what red flags to look for, and how to protect the people in your community from devastating losses. Since then, property scams have evolved, and advances in technology have made it easier. But this scam shouldn’t deter anyone.

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Housing Wire

OCTOBER 12, 2023

In addition to using these AI tools for themselves, Svoboda and Trimble told attendees to share this information with their lender and real estate agent partners. “AI will not take your job, but people who know how to use AI will,” Svoboda said.

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Housing Wire

JUNE 8, 2023

Title professionals and other members of the real estate industry need to take their security seriously, experts said. According to data from wire fraud prevention firm CertifID , in May alone their customers caught 18 fraud attempts totally $4 million. Can you afford to lose a million dollars? Can you afford to lose you reputation?”

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RIS Media

JULY 16, 2021

Rental scams have been an increasing problem in real estate, and a new report from Apartment Guide breaks down which states are experiencing the highest rates of fraud and how much consumers stand to lose. – These five states reported the highest percentages of rental scams: Idaho, Hawaii, California, Colorado and Oregon.

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Realty Biz

SEPTEMBER 11, 2023

The real estate market in 2023 calls for more than just investment savvy; caution and due diligence have become equally essential. Scams have become more sophisticated, making it ever so important for homebuyers and sellers to be on high alert. Rising Instances of Real Estate Fraud In Ontario and B.C.,

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RIS Media

SEPTEMBER 13, 2020

Technology is an integral part of daily life as more people are working remotely, engaging in distant learning, purchasing products and services online, and conducting financial business virtually, including real estate transactions. Medical scams are increasingly prevalent, too, given the public health crisis.

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Toronto Realty Blog

AUGUST 31, 2022

What’s the best rental scam I’ve ever seen in practice? ” Is the best scam the one that generates the most money? Or is the best scam simply the most elaborate? I asked him what the problem was and he said, “I think I got scammed.” The Nigerian bank scam? TorontoRealtyBlog.

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Lighter Side of Real Estate

SEPTEMBER 26, 2023

But, as the saying goes, if it seems too good to be true, it probably is… 10 Signs You May Be Dealing With a Fake Owner Scammers aren’t new to real estate; they’ve been around for years in different forms. But they could also get away with the entire purchase price of a house, if a buyer never realizes it’s a scam.

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Realty Biz

MARCH 28, 2023

Avoid Phishing Scams Phishing scams are a cyber attack that attempts to steal personal data or financial information by sending fraudulent emails, text messages, or phone calls. These scams typically contain malicious links or attachments, making them difficult to spot.

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Realty Biz

AUGUST 15, 2020

The Federal Trade Commission has issued a new alert warning consumers to beware of potential scams around mortgage assistance. In addition, the FTC has asked real estate professionals to remain vigilant against wire fraud scams in their transactions.

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Realty Biz

SEPTEMBER 4, 2020

Everywhere you turn there is someone trying to scam you. That includes being a victim of sort fraud during a real estate transaction. That includes identity theft, being a victim of rental scams on Craigslist , and wire fraud. A real estate transaction involves a lot of money. What Is Wire Fraud?

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The American Genius for Real Estate

FEBRUARY 4, 2021

(REAL ESTATE TECHNOLOGY) False rental listings have risen so Scamlord.ai The post AI can now spot fake landlords and rental scams appeared first on The American Genius Real Estate. is helping renters by offering education and guidance on how to avoid becoming a target of rental fraud.

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Technology 124

HomeLight

MAY 7, 2024

of all real estate transactions in the city, according to Canopy MLS. Despite high interest rates, Charlotte’s real estate market remains highly competitive as supply has struggled to keep up with demand. Working with an agent-referred buyer also reduces the risk of encountering home-buying scams.

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HomeLight

MAY 10, 2024

Long Island’s dynamic housing market, with its mix of bustling suburban communities and picturesque seaside towns, attracts both individual cash buyers and real estate investors. To capture their attention, consider promoting your property on real estate investment websites or attending local real estate investment meet-ups.

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The American Genius for Real Estate

JULY 25, 2022

Autofill settings in browsers can be susceptible to phishing scams where websites can acquire personal information. The post Your browser’s autofill data can be hacked – here’s what you need to do appeared first on The American Genius Real Estate.

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Technology 59

HomeLight

APRIL 9, 2024

As Miami’s real estate landscape continues to evolve, more homeowners are exploring the option of cash sales for a more direct and hassle-free transaction. Verifying a company’s track record, licenses, and customer referrals will help safeguard you against potential scams , ensuring you work with a reputable buyer.

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Realty Biz

SEPTEMBER 18, 2023

Are you wondering if setting up a power of attorney for your real estate transaction is a good move? In certain situations, a power of attorney for real estate becomes necessary. Maximum Real Estate Exposure does an outstanding job summarizing what to know about a POA.

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