Property scams and fraud are on the rise in South Africa and are becoming increasingly sophisticated. So, we’re encouraging everyone to be extra vigilant. The best way to lower the chances of falling victim to fraud is by verifying the legitimacy of the property website, listing and estate agent that you are using.
HOW TO ENSURE THE LEGITIMACY OF PROPERTY WEBSITES AND LISTINGS
Most property searches begin with a Google search, but it is advisable that you visit reputable property websites such as Property24, Private Property and of course, the Chas Everitt website.
Properties are listed for a much lower price than market value.
The response you receive after submitting a query is strange, generalised and appears to be automated.
The same property is listed on multiple other sites for a considerably higher price.
You cannot view the property in person or are asked for a deposit before you do.
Double-check the URL of the website, as fraudsters will often use a similar URL to another site, bar some slight amendments.
Conduct a Google search and see if it takes you to the same page.
Check the padlock in the address bar to see if the connection is secure and if the site certificate is valid.
When it comes to verifying the listing, search for similar properties in the area on another site to see if prices are approximately the same.
Google the listing agency and call the number to verify the property specs. Avoid calling the number on the listing itself, because if it is a scam this number will lead you directly to the fraudster.
Chas Everitt only works with authorised and verified property suppliers.
HOW TO ENSURE THE LEGITIMACY OF AGENTS
Fraudsters often pose as real estate agents from reputable companies, such as our own, making it absolutely essential to confirm their identity and credentials.
The agent refuses to meet you in person.
The agent constantly comes up with last-minute excuses to cancel meetings or property viewings.
They ask you to pay the deposit upfront.
The agent expresses unnecessary urgency to conclude the process.
Only respond to email addresses that appear legitimate. It is incredibly unlikely that a reputable agent will mail you using a Gmail address.
Chas Everitt agents will only engage with you on a @everitt.co.za email address. Only respond to them on these email addresses or via our website and affiliate portals.
Check the padlock in the address bar to see if the connection is secure and if the site certificate is valid.
To establish the legitimacy of a Chas Everitt agent, simply visit the agents page and search by agent name to find a photograph and contact details.
Always compare the contact details of the agent you are communicating with against the details provided on the site.
All Chas Everitt agents are fully verified and have gone through rigorous training and qualification processes.
STEPS AND SCAMS
Steps to avoid becoming a victim of cyber crime
VERIFY EVERYTHING
Always ask for verification of the bank account that you are paying funds into. Ensure that you’ve checked your agent’s credentials.
EMBRACE A HEALTHY DOSE OF SKEPTICISM
If a deal seems too good to be true, chances are it probably is. Spelling errors are a telltale sign of something suspicious going on. Don’t hit reply directly to an email. Rather start a new one and copy the relevant parties’ contact information straight from your address book.
MEET IN PERSON
The best way to verify the legitimacy of your estate agent is to meet them in person and view the property in person.Make sure to sign important documents during these in-person meetings.
CYBER FRAUD
Cyber fraud, also known as electronic email interception, is where emails exchanged between the customer and the real estate agent are intercepted. The fraudster can then amend bank details and have the customer make the payment into a fraudulent bank account.
PROPERTY SYNDICATES
This entails duplicating property listings from legitimate websites and the unlawful posting of them on fraudulent sites by scammers posing as real estate agents. The scammers encourage interested parties to pay a deposit or rent to secure the property and then disappear with their money.
UNLAWFUL OCCUPATION
This is where syndicates unlawfully occupy a property, most commonly flats or townhouses, and lease them out unlawfully.
For more information on fraud or to report an incident visit: https://www.safps.org.za
