No doubt you have received alerts—probably even one today or this week—coming to your email or text urging you to beware of the latest attempt to defraud you. These days, everyone from credit-card companies to banks to online stores to entertainment venues are warning their customers not to fall for scammers who are pretending to be legitimate businesses seeking your personal and/or financial information.

What’s more, you have likely received an actual scam attempt directed your way within the past few days. It could have been a text, an email, a phone call, or even a slickly worded printed mailer (although those are less common nowadays).

Not only that, but you, or someone you love and care about, might have fallen prey to a scam and given up either valuable details or actual money (or gift cards, in the case of a familiar old scam) to posers out to make a quick illegal buck.

If so, then please know that you are not alone! In today’s rapidly advancing digital world, where AI can produce fake photos, videos, and even voices that sound like your loved ones, scams are increasingly sophisticated and widespread. And even for those who have been tricked, it’s never too late to wise up and take steps to prevent future fraud.

The real estate market is no exception, of course. Whether you’re a buyer, seller, or a REALTOR, becoming a victim of fraud can result in significant financial losses, emotional stress, legal complications, and reputational damage.

The Effects Can Be Extensive

As we know, scammers are constantly devising new ways to exploit vulnerabilities in the transaction process. For consumers, this might mean losing thousands of dollars, having to go through legal entanglements to set things right, or even ending up with a home they didn't intend to buy. For REALTORS, falling victim can damage your reputation and your clients’ trust that our members have worked so hard to develop.

The Role of REALTORS

As trusted advisors who adhere to NAR’s REALTOR Code of Ethics and seek the very best for clients, REALTORS play a vital part in safeguarding consumers from these scams. By staying informed about common tactics and red flags, you can prevent clients from becoming victims and strengthen your reputation as a knowledgeable and reliable professional.

EMTAR’s Commitment

In this four-part blog series, we are exploring some of the most prevalent and dangerous real estate scams—and, most important, how to identify and prevent them. This is a reflection of EMTAR’s longstanding commitment to serve alongside our members as “your partner in success,” providing resources and tools aimed at increasing awareness of vital aspects of working with home buyers and sellers throughout Eastern Middle Tennessee.

*We hope you will stay tuned for next week’s installment, “Part 2: Common Real Estate Scams Faced by Buyers.”

About EMTAR: Chartered in 1969, our Association’s 1,200+ REALTORS® are a proud part of the 36,000+ members of Tennessee REALTORS® and of the 1.5 million+ members of NAR, all working to serve the public and protect the rights of America’s property owners. EMTAR members are known not only for their unmatched real estate excellence and high ethical standards, but also for being generous, hospitable, others-focused, loyal, hardworking, and eager to help wherever and whenever help is needed.