https://emptycribs.com/how-to-avoid-getting-scammed-by-estate-agents/

It’s 2020 and you can find out just about everything about anything without moving a muscle of your legs, right? Not quite

Everything you see online is content put up by just about anyone and anyone can put up anything. So how do you know what you’ve searched for and found online is authentic? Honestly, there’s very little you can do to find out but if you’re searching for a property to lease or buy, www.emptycribs.com is a great place to start.

However, as stated earlier, just about anyone can put up anything – anywhere. So how do you make sure your fingers (and even arms and up to your heart) don’t get burnt? I’ll share some few tricks from my experience in this field.

Because real estate investing (in rent or purchase) can be capital intensive, you can’t be too careful when dealing with people you barely know.



Search Credible Portals
Although credible portals can also contain fraudulent listings, it is important to note that certain portals can be notorious for deceitful listings. At www.emptycribs.com, we have introduced the verified tag which will only be assigned to realtors that have proven over time to be credible or provide sufficient evidence of their membership of a credible real estate association. This, however, shouldn’t be your most important consideration if you want to avoid getting scammed.



Scrutinize the Listing
There are almost always telltale signs of deceit a lot of times. For agents who do not have direct access or aren’t the primary relators to the property owner, you will observe the following:

Type of Pictures
For agents who do not have unrestricted access to the building or weren’t recruited directly by the property owner, you may only see one or two pictures of the building exterior in their listings. For direct agents, you should expect interior pictures but that is not enough

Address of the Property
For the records, only a direct agent will put up the exact address of the property. S/he knows if you ever make out time to visit the property, you will see her/his signpost hung up there. This is one critical identifier but still, that is not all



Review other listings by Agent
So you’ve seen the listing and it looks much too much like what you want but wait a minute – it could be lifted directly off someone else’s page. So you may want to check other listings by the same agent and review for consistency. It may not just tell you something about the property you’re interested in, but a lot more about the agent you’re likely going to be dealing with. Property investment is very crucial and do not get carried away.



Check out Agent/Agency’s Profile (on the portal and on social media)
You really don’t want to overlook this and we do not as well. At www.emptycribs.com, you’re very unlikely to get verified as an agent if your profile is not topnotch. Beyond the agent’s profile on the real estate portal, you may also want to check them out on other social media platforms. Agents have the ability to link their social media handles to their profiles on EmptyCribs and as a prospect, it is important those things are checked. For authentic realtors (not just hustlers or opportunists), you’re likely to see property listings or related posts on their personal social media handles. This shows you it is their line of business and not just a one-off opportunity they are taking an advantage of.



Get a Lawyer – A Damn Good One
So your agent has a lawyer and why shouldn’t you? Your agent’s lawyer was, is, and will never be on your side. So especially when it comes to buying a property, you need a lawyer you can trust. Your lawyer will be responsible for checking and verifying all documents presented to you by the agent/agency to be sure they are credible. This is extremely critical as various land jurisdictions have different laws pertaining to the acquisition and use of land. Land matters in courts always seem to drag on for a lifetime and can cost a whole lot of sweat, tears, blood and even lives. Trust me, it’s one battle you never want to start and many lawyers have walked out on matters when it matters the most. So you have to be sure you’re hiring the proper property lawyer. If there’s only one thing you will take out of this article, this should be it.



Meet First in the Open & Never Visit Alone
So you’ve seen the property and contacted the agent and s/he has agreed on a meeting. This is someone you barely know so you want to visit with one or two trusted friends or relatives. While the agent’s office may not be a bad place to visit the very first time, you want to be very careful. You can tell a proper office block when you see one and even at that, never go in first. Your first meeting should be in the open and from the conversation, you can tell whether or not you’re interacting with a scammer. A scammer will be too eager but you shouldn’t be.



Ask Around
That you’re looking for a property to lease or buy, means you may be spending about half of the next couple of years in that neighborhood. After making your decision on which neighborhood you want to live in and inspection of the property, you need to visit all alone at a later time and ask questions. Ask residents (they have a stake), artisans/domestic servants/security personnel (they have some stake) and regular visitors like commercial drivers (they have little stake). These three categories of respondents should give a fair idea of what living or working in the neighborhood will be like should you decide to settle for a property there.



Execute an Agreement
Especially for rental property, you must ensure there is a rental agreement in place which should be reviewed by your lawyer. The rental agreement will contain the tenor of the rent and the responsibilities of the landlord/seller and buyer/tenant. You have every right to review and make specific adjustments or demands of agreement based on your concerns. Your legitimate concerns should be inputted after a thorough inspection of the facility.



Pay only into a Bank
Never make cash payments when dealing in property transactions no matter how convenient it seems or how desperate you become. Bank transfers can be traced, verified and even reversed if there’s the need. You must also verify the account details before you hit the transfer button. Payment should be the last thing on the menu after the agreement has been executed. Some realtors seem to put the agreement last but payment constitutes a part of the agreement.



The list is not exhaustive. Sometimes your gut feeling may surpass all the considerations above. It is however important that you engage your lawyer and carry him/her along every step of the way. Best of luck.