Five ways to spot a real estate scam
There are narcissists (scammers) and there are empaths (victims) in all industry sectors. Sometimes its tricky to spot. Before doing any business, mostly a huge deal, like buying a new home, do your research.
Take your time. Move slow. Buying real estate is an emotional process. It involves great excitement and vulnerability that scammers can spot, miles away. They examine behaviors closely. It’s not only what you share, but also what you don’t share!
Some behaviors to watch for:
1. They want to you to move fast. Scammers don’t want to waste time. There’s a small window of opportunity for them to make an impact. They will “love bomb” you. They will give you want you “need.” Feed you what “you want to hear,” in order for you to build trust and work with them. Watch how much personal information you share.
2. They get angry. When you question things, they don’t like it. They get angry. Some even lash out. After the trust has been established, say in the first few months of working together, and visiting properties, their true colors start to show. Pay attention.
3. They want you to be beneath them. Though you have contracted out their services – to purchase a new home, and to obtain advice on the trade, they behave as though you are working for them. They feel justified in treating you any which way they choose. If you had a great start together, you might be surprised by sudden shifts in their attitude.
4. They want you to have blind faith. It makes no difference to them that you have your own ideas and thoughts. They want to “dumb you down.” They want your full trust so they can manipulate situations – and say things like, “This is a great purchase for you,” or “If you don’t do this now, you’ll regret it later.” They may even go so far as to say,” “You don’t want to stop working together because it will take you backwards.”
5. They put you down. They study people and their weaknesses. What they like, dislike; what makes them excited, happy, sad, bored, and so on. Scammers are masters at reading people’s emotions. When you want to walk away, they really play on your weaknesses (which they uncovered during the “love bombing” stage of getting to know you). Choose your realtor carefully.