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Scams are on the rise. Be aware!
Several examples of common scams are below.
MLS members have free access to the FOREWARN website to confirm the legitimacy of identities. Use your email address on file with the VMLS to register at no charge.
1. Vacant Land Scams
Scammers often target local brokers, particularly claiming to have vacant land to list. The initial contact may come through Realtor.com or a similar website. Always be wary of random leads and use the FOREWARN program to verify them. This program is offered free of charge to VMLS subscribers. New subscribers can register using their email on file with the VMLS.
The National Association of REALTORS® offers a helpful tips sheet regarding vacant land scams (Click here to download it).
"Land Title Association of Colorado and the Colorado Association of REALTORS® are aware of a new fraudulent scam that has quickly become more prevalent. In most instances, it includes VACANT LAND. A fraudster locates a property and impersonates the owner of the property. They list the property for sale (typically as a “FSBO”) on various real estate syndication websites, looking for a buyer who wants a quick close. The “seller” communicates primarily via text or email and usually requires a mail-out closing. The “seller” signs the deed and has it notarized; it is not clear whether the “seller” is using a fraudulent notary, or whether they are presenting false identification to a legitimate notary. The fraudster will sometimes use the listing to connect with a trusted buyer’s broker before going under contract, which gives the transaction an additional air of legitimacy."
For more information please visit: Fraud Alert – Vacant Land Scam – Colorado Association of REALTORS (coloradorealtors.com)
2. Seller Impersonation Scams on the Rise
Federal law enforcement has seen increased real estate fraud involving vacant land. Click here to read CAR’s blog post on this topic.
3. Showing Scams in Colorado
Scammers will contact listing brokers to access listed properties. In the most common scenario, the scammer will attempt to schedule a showing directly with the listing broker while impersonating an active, licensed broker working with a buyer. They will text or call the listing broker looking to schedule a showing outside the normal showing service protocol by indicating that showing schedule service is “unavailable” or “down for maintenance.”
If someone attempts to schedule access to one of your listings in a manner that is outside of your normal scheduling protocol, please take steps to ensure that the individual attempting to schedule a showing is an active licensee identifying themselves in an honest manner. Ideally, avoid scheduling any showings or other property access outside of your normal showing schedule protocols.
Click here to read the notice on showing scams from CAR.
4. Fake robocall
There was an incident involving a robocall from a Colorado real estate broker who was a victim of identity theft. A series of harassing robocalls were fraudulently attributed to his phone number.
If you receive a suspicious robocall.
- Delete the robocall. Don't engage in any way.
- If you are particularly concerned, report it to local police (Using a non-emergency number)
5. Impersonating Law Enforcement
The Eagle County Sheriff's Office (ECSO) has received complaints about scammer calls claiming to be from the ECSO office. The scammers contact community members requesting personal information and money.
If you answer this call, DO NOT give out your personal information or give this person money or gift cards. Hang up and call the Eagle County Sheriff's Office directly at 970-328-8500. Typically, these scammers share a confusing story about how arrest warrants are being completed or that the victim missed a court date and must go to a bank to get money.
You can also report fraud at the FBI's Internet Crime Complaint Center www.ic3.gov.
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