Text scams targeting real estate transactions are on the rise, and educating your clients to recognize and avoid these fraudulent messages is crucial. Here’s a comprehensive guide to help you protect your home buyers and sellers from falling victim to these scams and potentially exposing personal and financial information.

Recognizing Common Real Estate Text Scams

Scammers continuously evolve their tactics, making it essential to stay informed about current scam trends. Here are some prevalent real estate text scams:

Unsolicited Offers: 

– Texts asking if you want to sell your home or offer to buy it without prior contact.

– Messages from a supposed buyer requesting bank account information to wire money.

Impersonation Scams:

– Texts from “Mary” checking if you still own your home and plan to sell it.

– Messages claiming a wire transfer failed and requesting alternate bank account details.

Foreclosure Relief Scams:

– Offers of loans to avoid foreclosure in exchange for temporary ownership of the deed to your home.

Identity Verification Scams:

– Requests for a photo of your driver’s license and social security card under the guise of identity verification.

Educating Your Clients

Your role as a real estate agent includes ensuring your clients’ transactions are secure. Here are steps you can take to educate and protect your clients:

Communicate Clearly: Inform your clients that you will never text them for personal or financial information. Make it clear that any such requests should be ignored and reported immediately.

Provide Verification Methods: Give your clients a reliable way to verify suspicious messages. Encourage them to contact you directly via phone or email if they receive questionable texts.

Send Alerts: Proactively inform your clients about new scams as they arise. A simple text alert describing the scam can help them stay vigilant.

Best Practices for Your Text Communications

While it’s essential to warn clients about scams, it’s equally crucial that your texts don’t come across as spam. Here are some best practices:

Obtain Permission: Always get express written permission before texting clients. Use compliant opt-in methods like keywords or web forms.

Offer Opt-Out Options: Ensure clients know how to opt out of your messages if they choose to do so.

Identify Your Brand: In your first text, clearly identify your brand and tell clients how often you’ll text them.

Avoid Spammy Language: Stay away from words and phrases that may appear spammy, such as ATTENTION, FREE, OPEN NOW, PAYMENT FAILED, DON’T DELETE

Example Texts for Clients

Here are some example texts you can send to your clients to keep them safe:

– “XXX Brokerage will never contact you by text asking for personal or financial details. If you receive such a text claiming to be from us, please call our office.”

– “Hello XXX Brokerage Clients! Please Be cautious of texts from someone named “Mary” asking to buy your home. Don’t engage with it.”

– “We’ve heard about texts offering foreclosure relief loans. Please do not respond to these messages.”

– “Did you get a suspicious text claiming to represent our brokerage? Call us at [office phone number] or reach out to [agent name] at [phone number] to verify.”

By proactively educating your clients and ensuring clear, trustworthy communication, you can help them navigate and avoid the pitfalls of real estate text scams. This protects their interests and reinforces your credibility as a diligent and caring real estate professional.

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