With such large amounts of money involved, real estate transactions are prime targets for scammers. One fraud involves criminals who trick homebuyers into wiring their down payment money to a criminal’s bank account. Once the money is deposited into the wrong account, it’s quickly lost in a labyrinth of bank transfers. The buyers’ funds are difficult to recover.
Professionals looking out for your interests: Realtors – those real estate agents who join the national, state and local associations of Realtors – work together to make real estate transactions as safe as they can be.
Your Realtor may talk with you about steps you can take to avoid scams. Texas Realtors also have flyers that will help you learn how to prevent real estate wire fraud.
A century of protecting real estate buyers and sellers: Realtors in Texas have been setting the highest standards for professionalism for more than 100 years. In fact, one reason the association was formed in 1920 was in response to unscrupulous businesspeople. These “curbstoners,” as they were called, were cheating Texans in real estate scams, so ethical real estate brokers came together to do something about it. These professionals formed an association that worked tirelessly to require real estate licenses in Texas.
Realtors also were the driving force in creating the Texas Real Estate Commission, which regulates real estate license holders and safeguards consumers in matters of real property transactions. You can count on Texas Realtors to continue to fight on behalf of high standards and consumer protection in the future.
Working with a Realtor gives you peace of mind: A real estate transaction can be a large and complex financial decision. It’s nice to know that someone is on your side, looking out for your best interests. Your Realtor puts your interests first and Realtors in Texas work collectively to make real estate transactions and ownership better for everyone.
The largest Realtor association in North Texas and fifth-largest real estate association in the U.S., MetroTex provides programs and services to over 25,000 professionals involved in all aspects of real estate. For more information, visit dfwrealestate.com.