Kindly Artistes

I had the best gigantic brown lunch bags when I was kid.  Mom would buy these massive subs or get Kentucky Fried Chicken with Doritos, chocolate snowballs and all sorts of goodies. My buddies Eph and the Farbiedoll would stare at me like sad puppies having only a ½ baloney sandwich and a pear, patiently waiting to have any of my remnant leftovers. Since they were Cubbie fans with a terrible team, I would take pity and throw them a bone. The word “bag” is usually associated with positive things. Tote Bags. Lunch Bags. Gym Bags and even the Bowling Bag. But the “bag” has an evil maniacal underworld twin that lurks in stagnant items of lower froth. Scumbag, sleazebag, and slimebag come to mind. However, the word “scam” is just the opposite. Scammers are described as sophisticated French “artistes”. And when the scam artiste approaches you, they are quite polite and not as easily identifiable as the sleazebag.  “Would you kindly send me $500 as my luggage was stolen and I have nothing other than this electronic smart phone device with 2% battery life left? Hurry please. I’d be so forever grateful.” BTW – Kindly is always a clue as who talks like that?

Well, there is a new scam artist that anyone dealing in real estate needs to be aware of and I don’t take too kindly to her. So, I will blow her cover and share with you these masqueraders, so you don’t get hoodwinked. Also, please forward this on to any of your friends as well as I’m sure they would kindly appreciate it. Here goes…

The scalawag phoned one of our agents praising her (see they are always polite) for her sales acumen and found her at a reputable online portal. The homeowner wasn’t in town and had an acre of land in Jupiter Farms that she wanted to sell. The land was vacant. The area code matched where she was residing now, and we listed the property. A nice couple called on it and bought it full price. However, during the inspection period, something became askew. Our agent previously resided in the part of the country the land owner was calling from, and this landowner seller didn’t seem to really know much about where she was now living. Social media when we checked her out was also off kilter. The Title Insurance agency we used, Next Wave Title, then asked for certain items for identification and was not getting normal answers. The title company then did two things to verify.

1. First they ran the seller’s information and the wire instructions through a state of the art “identify information program”. This catches a fake Seller and they did catch this one.
2. Next Wave Title also sends a certified letter to the owner of the vacant land. That also caught it as the real owner replied stunned to find out that this was going on. It’s also why you need to have Title Insurance.

Some things to know and expect your real estate agent and title company to do…

• Sellers who want a check and/or proceeds to be forwarded to an account other than their own need to be extra scrutinized.
• As a company with any land deal we are running identity information regardless of if we are representing a Seller or Buyer on a vacant land deal now. On the purchasing side, we will insist on this and ask the agent if they have met the Seller.
• Check your “gut”. Does anyone you know use “Kindly” when they write you? If things seem off kilter, they usually are.
• Next Wave Title’s parent company is a large size and licensed in 18 states. Small mom and pop title companies aren’t going to have sophisticated backend technology tools in areas of fraud.  Make sure the Title company you choose has the financial support and backend support.

Now once the scam artist is found, they get reported and they go on a database of “scumbag scam artists”.  In this case since the phony owner tried to sell land, she will be classified as a “dirtbag scam artist”. Hopefully if they get caught, they won’t be treated so kindly in the slammer.

Some more information on this from the Underwriter and Title Company concerning foreign sellers, resale homes, and land are as follows.

SELLER IMPERSONATION FRAUD, also known as property fraud or title fraud, is a form of deception in real estate transactions where individuals. or groups pose as legitimate property owners or authorized sellers with the intent to defraud buyers, agents, or financial institutions involved in the transaction. This type of fraud typically involves misrepresentation of ownership or authorization to sell a property. Targets of this are owners of second or vacation homes, vacant lots, owners free of mortgage or liens, and rental properties owned by foreigners or the elderly. The fraudster is good at gathering information. They create false identities, contact a buyer or seller and then build trust and urgency.  Then misdirect funds to complete the fraudulent transaction. The consequences of all this are a giant waste of time, emotional turmoil and obviously severe financial loss along with title issues on the property. Common techniques used in seller impersonation fraud are phishing, fake online listings, impersonating property owners, pressure tactics, diversion of communication channels, forgery, falsification of documents and social/psychological manipulation.

Like in our case, common red flags to watch out for are the following: Unusual communication patterns, pressure, unusual payment methods, unwillingness to meet in person or conduct a property inspection, strange price terms, lack of professional representation, request for personal and financials, missing proper documentation. and unresponsive behavior. Meet face to face, get the proper identification, trust your gut instinct, get a certified letter to the property owner, and report the fraud if/when you find it.

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Jeff Lichtenstein, originally from Chicago, got his start in the home furnishings textile business where he traveled over 35 weeks a year selling fabrics. After the family business was sold, Jeff moved to Florida and became a real estate agent. Today he is the owner and broker of Echo Fine Properties, a luxury residential brokerage voted best brokerage of the year. Jeff manages a non-traditional model of real estate that mimics a traditional business model. Echo has 80 agents, an average of one million dollars per transaction and over 500 million in annual sales. Between traveling for work and annual family trips to national parks with his wife and 2 now adult children, Jeff has visited 49 states. He is also one of the few Chicago White Sox fans you’ll ever meet.  Some publications he has been quoted in.

Author of business & leadership book How Making a Sandwich Can Change Your World –  The Amazing Success of the PB&J Strategy – Available to Buy Now!

Feel free to ask him a question directly at [email protected] including a complementary  valuation of your home.

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Written by Jeff Lichtenstein

Jeff Lichtenstein, originally from Chicago, got his start in the home furnishings textile business where he traveled over 35 weeks a year selling fabrics. After the family business was sold, Jeff moved to Florida and became a real estate agent. Today he is the owner and broker of Echo Fine Properties, a luxury residential brokerage voted best brokerage of the year. Jeff manages a non-traditional model of real estate that mimics a traditional business model. Echo has 100 agents, an average of one million dollars per transaction and over 500 million in annual sales. Between traveling for work and annual family trips to national parks with his wife and 2 now adult children, Jeff has visited 49 states. He is also one of the few Chicago White Sox fans you’ll ever meet. Some publications he has been quoted in.

Author of business & leadership book How Making a Sandwich Can Change Your World – The Amazing Success of the PB&J Strategy – Available to Buy Now!

Feel free to ask him a question directly at [email protected] including a complementary valuation of your home.

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