realestate

Real Estate Brokers Adopt Zero-Tolerance Policy to Combat Scams

Beware of scammers posing as sellers in fast, full-cash closings.

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ansas City metro brokers are taking a zero-tolerance approach to real estate scams after a surge in incidents. This shift is aimed at preventing scammers from posing as sellers, creating fake IDs based on county deeds, and convincing buyers to make quick cash transactions.

    Shelby Briggs Austin, Director of Broker Services at Platinum Realty, LLC, has witnessed these scams firsthand. Scammers often target vacant properties, such as vacation homes, and pay individuals to change the locks. Once the sale is complete, they leave the country with the money.

    Austin emphasizes that using a trusted title company can prevent these scams. Platinum Realty now requires brokers to work with reputable title companies that use technology to detect fake IDs. However, not all brokers have adopted this policy.

    To protect themselves, sellers of high-target properties should stay in touch with the county about their deed and tax information. Regular communication can help prevent ownership changes and alert authorities to potential scams. Austin believes these safeguards will become a norm in real estate, and home and landowners can take steps to safeguard their properties by staying vigilant and informed.

Real estate brokers gather to adopt zero-tolerance policy against scams nationwide.