Beware of Property Management Scam

Member Alert – Property Management Scam

Recently, FAAR was notified of a concerning scam.

The scam works as follows. A listing firm in Tidewater had three homes listed in the MLS for sale. Multiple callers contacted the listing agent to discuss rental terms for these listed properties. When asked where the callers learned about the properties, they replied that a person from Texas contacted them with a proposed deal: You send a deposit to Texas and we will immediately send you the keys to the rental unit.

Apparently, the listing information was scraped from a non-MLS aggregator website and advertised for rent. The FBI and police were notified.

Real estate scams have become increasingly common, especially with property management. Please click the link below to view a terrific video from the National Association of Realtors® on property management scams and how to protect your clients:

http://www.realtor.org/videos/how-to-protect-your-property-listings-from-rental-scams

If you have any questions about this scam or to report another one, please contact VAR Legal Staff at (804) 264-5033.

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