Buyers Customer Relations Selling/Listing

8 Ways To Identify Fake Buyers And Sellers

Not all prospective clients you come in contact with are legitimate buyers or sellers. Some are exaggerating their interest in buying a property, perhaps to take advantage of your expertise – or, possibly, they have more nefarious reasons.

Realtor® Magazine recently asked real estate professionals across the country what they wish they had known before starting their sales careers. Lisa Holmquist, SRS, a sales associate with Urban Nest Realty in Las Vegas, mentioned experiences she’s had working with prospects “whose sole purpose was just to waste my time.” This included a woman posing as a high-end buyer who strung Holmquist along for months, even impersonating a lawyer over the phone and threatening legal action against Holmquist.

While these odd encounters are frustrating, there could also be a safety element to consider. What if these fakers have more dangerous intentions?

To help avoid a potentially harmful situation later, Holmquist has learned to watch for signs that the motives of these prospects could be disingenuous:

  • They cancel or postpone multiple appointments.
  • Their story changes about why they’re moving.
  • They can’t settle on a price point.
  • They ask you to do strange favors that have nothing to do with real estate.
  • Any property seems to be the right one for them, sight unseen.
  • They can’t provide their financial information.
  • They won’t give names, emails, or phone numbers for their advisers.
  • They’re always having trouble sending you a fax or email.

Original Source

I am one of the Managing Brokers for United Realty Group, Inc. I have been servicing the residential real estate market since January 2007 and have formed a real passion for the industry. With high standards and a strong moral compass, I am pleased to serve our industry and URG's REALTORS on a daily basis.

2 comments on “8 Ways To Identify Fake Buyers And Sellers

  1. I recently had a client that wanted to buy a 19 million dollar home of a yankee pitcher. He was the nephew of the recently deceased man who played the FBI director on The Supranos and the family also owned a chain of restaurants called Reo’s We spent hours on the phone and i set the appointment to show the home. When I left a message and asked him for the spelling of his name to leave with the guard at the gate at Admiral’s Cove… that was the last I heard from him. So i got suspicious and ran his personal info through BeenVerified.com and by a reverse search of his email address…it showed that he was an imposter! Not one of his previous addresses lined up with that family or any of their restaurants. Not only that but it showed his very long crimal history! Every realtor should run a seach on new clients before meeting them. I wonder what his intensions were….but I am thankful that I was saved by their being a screening security gate asking for ID.

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