As an agent or broker, it’s important to be aware of fake buyers and the strategies they may use to deceive you. These individuals may present themselves as interested in purchasing a property, but their ultimate goal is often to scam agents and brokers out of money or other valuable items.
Fake buyers can be difficult to spot, as they often present themselves as genuine and believable. They may be well-dressed and smooth-talkers, and may even come prepared with fake documents or props to further their deception. A realtor’s account of his experience proved this point:
I encountered a fake buyer named Jed who presented himself as an overseas Filipino worker and chief engineer of a ship. He claimed to be interested in purchasing a property and even provided a brown envelope containing fake documents as proof. However, after borrowing a phone to make calls to potential buyers, he disappeared, leaving behind the empty envelope.
In hindsight, there were several red flags that should have indicated to me that Jed was a fake buyer. For example, he asked to borrow a phone, which could have been a sign that he didn’t have the means to purchase a new cell card on his own. Additionally, he left his envelope of supposed documents behind, which should have been a cause for suspicion.
To protect themselves from being deceived by fake buyers, agents and brokers should be cautious and vigilant. It’s important to thoroughly verify the identity and intentions of potential buyers before agreeing to meet with them. If you suspect that you are dealing with a fake buyer, it’s important to protect yourself by not providing any sensitive information or valuable items and to report the individual to the authorities if necessary. Trust your instincts and don’t be afraid to ask questions or seek additional information to confirm the authenticity of a potential buyer.
Remember:
- Not all buyers are who they claim to be.
- Fake buyers may be well-dressed and convincing.
- Verify a potential buyer’s identity before meeting with them.
- Red flags include requests to borrow personal items.
- Don’t be afraid to ask questions or seek additional information.
- Protect yourself by not providing sensitive information or valuable items.
- Trust your instincts and be aware of suspicious behavior.
