How To Avoid Real Estate Scams in 2022 – realestate.com.au

How To Avoid Real Estate Scams in 2022 - realestate.com.au

Whereas there are lots of incredible issues about dwelling within the period of digital transactions, there are undoubtedly causes to be cautious.

The incidence of cyber scams, phishing, hacking, knowledge breaches and on-line fraud appears to be rising on a regular basis.

In actual fact, in accordance with the ACCC’s Scamwatch, Australians are collectively shedding tens of thousands and thousands of {dollars} every year to scams regarding hacking, phishing, id theft and distant entry.

Keep away from falling sufferer to actual property scams by being further cautious on-line. Image: Getty


However 2022 is proving to be much more profitable for scammers. Scamwatch claimed that between January 1 and August 31 this 12 months Australians had misplaced much more with reported losses of over $37.8 million.

By comparability, throughout all of 2021 Australians misplaced a collective $33.9 million.

Kinds of actual property scams

Actual property fraud and property scams have been round for a very long time.

Nevertheless, it appears digital scammers have by no means been so brazen of their makes an attempt to money in on the massive quantities of cash being transferred on-line.

Listed below are among the scams to be careful for:

Rental property scams

Sadly, the rental market is a well-liked goal for scammers. Potential tenants are used to having private particulars prepared for functions, count on to be requested some questions, and in the end, count on handy over some cash.

The best way to defend your self from rental scams

The excellent news is that rental scams are relatively easy to avoid.

  • Guarantee delicate data is just uploaded utilizing official channels such because the realestate.com.au Renter Profile platform.
  • Attempt to have as many dealings face-to-face as doable.
  • By no means hand over cash with out first inspecting the property.
Aerial view over Houses

Scammers making an attempt to money in on folks’s financial savings typically look in direction of the property trade. Image: Getty


Fraudulent property itemizing scams

Whereas nobody can blame these on the lookout for a cut price, sadly, if one thing sounds too good to be true – it often is.

Scammers are consistently discovering new methods to deceive customers by replicating web sites and utilizing firm logos to seem real.

The best way to defend your self from itemizing scams

  • Use official and verified platforms, similar to realestate.com.au, which has a knowledge safety staff that seeks out and deletes pretend accounts.
  • When coping with an agent attempt to cope with them in individual or over the cellphone as a lot as doable, limiting the necessity for the importing of delicate data on-line.
  • Cross-check the agent by trying up their web site or profile page. In case you obtain correspondence from a wierd quantity or electronic mail account, search for the official one on-line earlier than returning the decision.
  • By no means pay cash earlier than inspecting a property.

Learn REA-Group’s official advice for avoiding scams for extra data.

Phishing scams

The Australian Cyber Safety Centre defines phishing as the best way that cybercriminals steal confidential data, similar to on-line banking logins, bank card particulars, enterprise login credentials or passwords/passphrases, by sending fraudulent messages (typically known as ‘lures’).

The way in which these typically work with property is a real individual, similar to an actual property agent, has their electronic mail hacked and the scammer then impersonates them to steal delicate data from their shoppers.

The best way to defend your self from phishing scams

  • Earlier than transferring any cash, all the time name the company and make sure the financial institution particulars to make sure they’re present and proper.
  • By no means use the identical password/electronic mail mixtures throughout a number of websites, particularly for banking or electronic mail logins.
  • By no means click on a hyperlink on an electronic mail or textual content message that appears barely odd, even when it claims to be from somebody you have handled beforehand. In case you’re not sure it is best to name to substantiate the message got here from them.

Fee redirect and Enterprise E-mail Compromise (BEC) Scams

Sadly, Enterprise E-mail Compromise scams have gotten extra frequent as companies are more and more shifting their operations on-line.

How does a fee redirection rip-off work

  1. Scammers acquire entry to the official electronic mail database of a enterprise after which use it to focus on their shoppers. This may be achieved instantly via electronic mail, or from a similar-looking electronic mail.

    For instance, if the web site ends in .com, they may use .com.au – or have characters that look related e.g. exchange an m with rn.
    One other variation is when the consumer’s personal electronic mail account is compromised, hackers can see what emails you’re getting, block the unique sender and take over responses.

2. Purchasers are then despatched emails with incorrect financial institution particulars for the company’s official belief account, which might result in victims shedding their complete deposit quantity.

These operations might be very focused and go after massive quantities of cash, like deposits.

Sadly, these are additionally more durable to determine instantly as a result of these sorts of deposits can take days to seem.

The best way to defend your self from fee redirection scams

  • Earlier than transferring any cash, all the time name the company and punctiliously verify the financial institution particulars to make sure they’re present and proper.
  • By no means use the identical password/electronic mail mixtures throughout a number of websites, particularly for banking or electronic mail logins.
  • Double-check electronic mail addresses every time you obtain correspondence on-line.
  • By no means click on a hyperlink on an electronic mail or textual content message that appears odd, even when it claims to be from somebody you have handled beforehand. In case you’re not sure it is best to name to substantiate the message got here from them.
Hands holding money in cash notes

Do not be scammed into handing over your hard-earned cash to a hacker. Image: Getty


The best way to keep away from actual property scams and crimson flags to keep away from

The property trade lures would-be scammers as a result of massive quantities of cash being transferred recurrently between events so, sadly, it is nearly unattainable to forestall fully.

Nevertheless, it is vital to do not forget that skilled actual property brokers will not query the necessity for enhanced safety and would hate to see a consumer fall sufferer to a rip-off on their watch, so by no means really feel unhealthy for asking them to double-check particulars once more.

Whereas there are lots of tried and true strategies of avoiding being scammed, typically the perfect weapon is trusting your intestine if one thing feels off.

Listed below are our high ideas for avoiding an actual property rip-off:

  • Keep away from clicking on hyperlinks in emails
  • All the time double-check particulars by way of cellphone earlier than transferring massive quantities of cash
  • If it sounds too good to be true it in all probability is
  • Be suspicious if actual property brokers can’t meet you in individual on the property

This text was initially revealed on
14 Oct 2022 at 3:18pm
however has been recurrently up to date to maintain the data present.

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