How to identify and avoid rental fraudsters
Category BEWARE OF RENTAL FRAUD
The world of real estate can be challenging, and the presence of falsified properties and individuals posing as legitimate Property Practitioners can make it even harder for consumers to navigate. It is important to know how to identify these fraudulent individuals and activities and to protect yourself from financial loss.
How to identify a false Property Practitioner:
- Lack of Fidelity Fund Certificate number: Ensure that the Property Practitioner you're working with has a valid FFC Number, which can be verified through the PPRA Portal at www.theppra.org.za.
- Upfront payments or fees: A legitimate Property Practitioner will never ask you to pay a fee or deposit to view a property.
- Personal email addresses: Fake Property Practitioners use personal email addresses instead of official company designated addresses. These include, but are not limited to Gmail, Yahoo, and iCloud accounts. An official RealNet Properties Property Practitioner will always contact you from a @realnet.co.za email address.
- Pressure to make quick decisions and to act fast: Be wary of Property Practitioners who pressure you to make hasty decisions without having viewed a property first.
How to identify a false property listing:
- Unrealistically low prices: Be wary of listings that have prices that are significantly lower than the market value and other properties in the area.
- Suspicious language: Look out for listings containing grammatical errors or which is written in broken English.
- Affiliate listing platforms: Only search for properties on accredited listing platforms such as Property 24, Private Property or secure real estate company websites such as www.realnet.co.za.
How to identify a fake property website:
- Poor or unusual website design: A fake website often has a poorly designed and outdated website with inaccurate information.
- Unsecured site: Check if the website is secure by looking for "https" in the URL or a padlock icon.
- Missing contact information: A legitimate property website should have clear contact information, including the agent's name, phone number, and email.
If you have fallen victim to a scam, it is important to report the incident to your local police station and to share your experience to help raise awareness and prevent others from succumbing to similar scams.
Being vigilant and informed is imperative. Always check credentials, do thorough research, and seek the help of a professional and registered Property Practitioner to assist you with your real estate needs.
Consumers who would like to establish whether an agent is indeed a member of the RealNet Properties group are entitled to ask for a valid and current Fidelity Fund Certificate and are also welcome to call the RealNet Head Office on 0860 460 460 for further assistance.
To be a part of the solution, our MD, Gerhard Kotzé, has spoken to Carte Blanche to shed some light on the ongoing rental scams and how consumers can protect themselves.
Watch the full episode here: https://www.dstv.com/m-net/en-za/show/carte-blanche/season/35/videos/rental-rogues/video
Author: RealNet
