HOW TO IDENTIFY FAKE ESTATE AGENT;here in Ghana, you need to be extra careful, these are the signs of a fake agent

How to identify fake agents

Your search for a dream apartment can become the worst nightmare of your life if you get caught by real estate scams. Scammers are there in every industry and the way they tangle you is hard to avoid. Rental fraud is when a landlord or agent pretends to sell a property that does not exist. These fake owners collect processing fees, security deposits, and application fees before you identify them as scammers. Unfortunately, despite the strict real estate laws, the number of fake real estate agents is mushrooming and you need to be extra careful while making the most substantial financial transaction of your life.

There are some warning signs which can help you identify property scammers:

•Often the rental scammers show that they are out of town. They claim that they have a property that you are looking for but can’t meet you personally, chances are he is making you a fool.

• Location of the property for instance Cantoments properties are way expensive and this agents gives you a lesser price ,that is a huge red flag to know he’s a scammer or fraudster. Therefore double check prices and rent before signing the lease.

• Sometimes the agent will be avoiding you whenever you try bringing in a professional lawyer when trying to buy a property or land one needs to

bring in a lawyer who has more knowledge of ways of

acquiring a property ,therefore a professional one is very

important so instances of the agent avoiding to bring in

a lawyer is a a major red flag.

• Moreover when the agent insists on physical payment by intending to meet you somewhere to pay Instead of paying through bank transactions but insist on instant payment to acquire the property because through the bank is traceable,that is also a major red flag.Never pay with cash .

• When the agent doesn’t have a portfolio attached to his or her name /no brokerage company with name /no face nowhere probably just a logo ,is a red flag therefore you need to get a reputable company and know that you can entrust yourself into their hands and they also have a face to it in case you get yourself into trouble with them you can identify them anywhere

.Also ask for real Estate license or a registered company certification from your agent.Only contact reliable real estate companies.

• Also involve a surveyor to check the site of the property to pick coordinate on the site just to check origin to authenticate the documents .

• Furthermore investigations on property or land this is also very important when it’s comes to acquiring a property,some agent get people to pose as developers or real estate owners then meet them somewhere to transact business and ran off with their money therefore you have to know the real owners by going on the site and do on the grounds checking by asking neighbors to know the real owners for instance ask around for someone who comes by to check the building and park to inspect the structure or comes by ones awhile to check works ongoing with these and others the buyer is making progress to knowing the real owners of the property so that a fake agent doesn’t ran off with your money.

Therefore visit the property in person and ask to speak to the renters and real owners.

• Check to validate documents of the property this is also very important to avoid going to the police station back and forth.

• An experienced and authentic real estate agent generally sells a minimum of one property per year.

An ultimate real estate agent is responsible to bring sellers and buyers to a table where they can negotiate the terms and in return, both parties pay the agent his/her commission. In the modern era, many people are tagging themselves as experienced real estate agents without knowing the ABC of the market. And a few turn into scammers and use a short-cut way to become a millionaire.

Before you shake hands with an agent, keep in mind the tips mentioned above and you will be on the right track right till the end.