3 Ways to Spot a Real Estate Scam
When you are looking to buy or sell a home, you will come across many companies telling you they can make your dreams come true. The sad reality is, some of these businesses are scams. There are ways to spot if a real estate professional is legitimate, or if they might be trying to scam you.
1. Lack of reviews or online business presence
Most reputable real estate professionals will have testimonials from clients that you can review. They will also usually have a website to represent their business or at least have a published phone number that connects you to a person.
The only exception to having client reviews is if it is a very new business. However, even then they should be able to provide some information that can show you they are credible. This might be a reference from a colleague or someone from a past profession. In this situation, you also need to ask yourself if this is the right person to work with simply because of their lack of experience.
Before you decide to work with any real estate professional, it is important to complete due diligence to ensure they are who they say they are and have your best interests in mind. At Synergy Buys Houses Florida we have testimonials published throughout our website and are always happy to share how we have helped Jacksonville homeowners who need to sell their homes quickly. Our company information is also readily available.
2. Asking for wire transfers or cash up front
A reputable real estate professional won’t ask you for wire transfers or cash up front.
They might tell you that making a deposit or “down payment” will help your transaction go smoothly.
In reality, whether you are buying or selling your home, a real estate professional won’t ask you for any money up front, and they definitely wouldn’t need you to wire money to them.
A trustworthy professional will be very clear with you about the financial aspects of any real estate transaction. For example, at Synergy Buys Houses Florida some people might question if we will really pay them cash for their home. We are happy to talk to them step-by-step about how the process works and exactly how much money we will pay for their home and how we arrived at the number. Bank information is never needed until a deal is closing, and it is when money is coming to you not the other way around!
3. Someone who claims to be local but is hesitant to meet
There are reputable real estate companies that might not be local to you. However, the best bet is to work with someone who is in your area. Not only will they have a better pulse of the market, but working with someone face-to-face definitely helps build trust.
If you are working with someone that claims to be local but they avoid meeting personally with you, that can be a red flag. If a company or person isn’t local, they should be easy to reach on the phone. We pride ourselves at Synergy Buys Houses Florida at being easy to reach for our clients and are happy to meet in person too!
When you are thinking about working with a real estate professional, there are questions you can ask them to see if they are reliable and trustworthy.
- How many years have you been in business?
- How many deals have you closed?
- Do you have testimonials from clients?
- What is the best way to communicate with you?
- Are there any financial obligations when working with you?
The biggest thing to remember when you are working with any type of professional...If it sounds too good to be true, it probably is! To learn more about selling your Jacksonville home for cash contact us today.