NAR looks at a scam hitting Florida real estate professionals in which cyber criminals have created a fake real estate group in an effort to collect fees. The video also looks at the return of Gen Xers to the market after being hard hit by the foreclosure crisis, Congress’ effort to reform and reauthorize federal flood insurance, and the Trump administration’s review of an environmental rule NAR would like to see revised.
In the following Google video we learn about how to identify scams online. If someone offers you some new shoes, a free iPad or an all expense paid trip to Hawaii, you should be suspicious. These offers might seem harmless, but these could be dangerous ways to get your personal information.
Scammers are diverting home purchase money by posing as one of the settlement service providers in residential transactions. They succeed by hacking into the email account of the consumer or lender or title agent and learning transaction details. Then they set up a false email and trick the buyer into sending the money to them. The scams are a top story in this weeks “Voice for Real Estate”
Other stories: how accounting changes could help commercial practitioners, why NAR has concerns with FHA single-family handbook changes, and where home sales are heading.