A
rtificial intelligence is being used in real estate scams in South Florida, with one local man narrowly avoiding a $52,000 loss. Udi Levi, a first-time buyer, was looking to invest in property when his dad, a real estate broker, introduced him to a vacant lot in Hallandale Beach. The seller claimed to be deaf and unable to hear, communicating only through text messages.
Levi's title company, Florida Title & Trust, required a Zoom call with the owner before closing the deal. However, something seemed off during the video conference. The woman on the call appeared to match the pictures on her license and passport, but her behavior was suspicious. Lauren Michelle Albrecht, founder of Florida Title & Trust, quickly realized it was an AI-generated image.
This is reportedly the first time law enforcement in Miami-Dade and Broward counties have seen AI used in a real estate scam. Albrecht warns that no property is safe from this type of fraud, and everyone needs to be vigilant. The investigation revealed that the picture used was actually of a missing woman from California whose real owner had passed away.
Levi's title company caught the scam just in time, saving him from losing his savings. He now plans to conduct all future closings in person.
realestate
South Florida homeowner narrowly escapes AI-facilitated real estate scam
Artificial Intelligence Used in Real Estate Fraud in South Florida Almost Costs Local Man His Savings
Read More - realestate
realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
Read More - realestate
realestate
Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
Read More
realestate
KingSett freezes withdrawals from $1.9 billion flagship private equity fund.
Investors locked into the fund for at least one year due to no cash distributions or redemptions allowed.