Real estate scams increasing in frequency: have you received a call from a stranger out of the blue asking you to list their parcel of vacant land for sale? How do you know whether the person is the true owner or a scammer? Earlier this year, one seller reported to RI MLS that 4 different REALTORS® have listed their vacant parcel of land in the first part of 2024 without their authorization. Another property owner reported to a local Board that a REALTOR® had listed their elderly parents’ home for sale in nearby MA, when that was not the case.
According to a presentation given by Victor Insurance at the NAR Legislative Meetings this past May, scam-related errors and omissions insurance claims against real estate brokers are on the rise. How can REALTORS® protect themselves and consumers from a scam? See NAR’s scam tip sheet here or watch NAR’s Window to the Law video on this topic.