Search Smart Spending:

Realtor group warns of rental scam

Posted Mar 30 2009, 12:19 PM by Karen Datko
Rating:

This post comes from partner site ConsumerAffairs.com.

Scammers have learned that using the name of a legitimate business or organization often helps deceive victims. The National Association of Realtors is warning that its name is being used as part of a property-rental scam.

Victims targeted by scammers are led to believe that NAR is functioning as an intermediary to receive rental deposits from prospective tenants. NAR says nothing could be further from the truth.

"NAR is not involved in this business and has contacted law enforcement officials to request that the matter be investigated. We encourage any consumers who may be affected to file a complaint," said NAR president Charles McMillan.

The scammers claim that on receipt of a deposit, NAR will deliver the keys to the property to the tenant. Prospective tenants are instructed to send money via Western Union to NAR's purported agent in the United Kingdom.

Some of the listings have been posted on Craigslist, which reportedly has had difficulty in tracing the original listings. NAR does not have an escrow service, or function as an intermediary to receive rental deposits.

Some of the scam listings also refer to a "Residential Lease Package" that includes a form lease identified as a document prepared by or otherwise associated with NAR. NAR was not involved in creating or producing the package or lease form, and does not recommend, support or encourage use of those documents.

Consumers who have encountered this scam may file a complaint with the Internet Crime Complaint Center, sponsored by the FBI and the National White Collar Crime Center.

"Our mission is not only to protect consumers in the real estate transaction, but also guard them against fraud," McMillan said.

Related reading:

Recession brings out the scammers

Debt settlement comes with hefty fees

Parties settle Paxil ‘split-pill' class action

Lawsuit alleges Best Buy's ‘price matching' ignored, violated

Back to Smart Spending Digg this | Email this | Link to this
Comments

 

It does matter to know where most of the scam e-mails are coming from.The UK and Nigeria.These 2 countries lately have hit the stratosphere when it comes to scams.It will heighten ones awareness when receiving an e-mail from either of these 2 countries.

Joseph (Posted 03.31.09 10:37 AM ) Report Abuse

I've been looking for an apartment on Craigslist NY for about a month and have seen at least five such postings a week. All of the postings involve the NAR and UK. I sent emails inquiring about some of these postings and received responses that were typical copy/paste emails. They bait people like Bernie Madoff with "too good to be true" rates. Usually, they offer rents that amount to half the value of the normal rent with the pretense that they had to relocate to London for work and are stuck in a lease they didn't want to break because of the uncertainty that they might have to come back in 3 to 6 months!!! That's hilarious!!!

FRANCIS (Posted 03.31.09 10:46 AM ) Report Abuse

This is a news to me. I've seen similar ads in Craigslist when I was inquiring for used cars. Some guy, when contacted, sent a mail that he's in Spain and his car is in TN and he can arrange to ship the car to my door, but asked me to wire the money. I thought "Yeah right" and deleted it.

There're similar scams I used to get for the last 5-6 years, originating from African nations. They claim to be coming from some big shot from some bank that found unclaimed money (MILLIONS of $) of some big guy in politics whose family was murdered by it's political opponents. And that banker guy would want to illegally siphon off the money abroad and would want my help to invest in the country where i live. For that, I would get some big % of it. For this to happen, I need to give ALL my bank details.

Then such mails started to come from Hong Kong guys too (or so they claimed)

Bunch of criminals.

Moral of the story is : NEVER EVER EVER EVER WIRE MONEY TO SOMEONE WHO YOU DON'T TRUST.

Muthu (Posted 03.31.09 10:47 AM ) Report Abuse

Please remember that no legitimate lottery asks you to send them money before you can collect your winnings.

Joan (Posted 03.31.09 10:55 AM ) Report Abuse

I agree with Scott...the majority of realtors are shady and lazy in my opinion....

john doe (Posted 03.31.09 10:59 AM ) Report Abuse

JUST USE YOUR "DELETE" ON THE COMPUTER!!!!!!!!!!!!!  THAT'S WHY IT'S THERE

Ella (Posted 03.31.09 11:01 AM ) Report Abuse

Scrutinze every apect of your personal finances and personal information.  I put credit freezes on all 3 credit reporting agenices, and do not reply to mail, emails, unless it is something I am personally working on and did my research.  I only do business with my "Life Network" of people that are business, family, or personal people I know (and even then I scrutinize their motives). The demise of Wall Street and greed and corruption among CEO's and politicians should teach us all that these ROLE MODELS will only breed  more scams in the years to come! I agree with Scott...and realtors are only interested in their commission.  I know this because I sued a realtor and thier company...and won.  As for Rhonda...blah, blah, blah, blah, blah

mb (Posted 03.31.09 11:11 AM ) Report Abuse

Scrutinze every apect of your personal finances and personal information.  I put credit freezes on all 3 credit reporting agenices, and do not reply to mail, emails, unless it is something I am personally working on and did my research.  I only do business with my "Life Network" of people that are business, family, or personal people I know (and even then I scrutinize their motives). The demise of Wall Street and greed and corruption among CEO's and politicians should teach us all that these ROLE MODELS will only breed  more scams in the years to come! I agree with Scott...and realtors are only interested in their commission.  I know this because I sued a realtor and thier company...and won.  As for Rhonda...blah, blah, blah, blah, blah

mb (Posted 03.31.09 11:14 AM ) Report Abuse

A competent, ethical realtor is of great value.  And today everyone has to be careful deciding with whom to do business.  A scam is still a scam.  Although Craig's List is great for exposure, it's anonimity sets the stage for scammers.

SG (Posted 03.31.09 11:27 AM ) Report Abuse

I once read of an idea to stop spam, it was along the following lines.  The plan consisted of a deposit made to your isp or email provider.  The deposit was based on the amount of email you sent.  If you sent an email, an amount (let's say a 10th of a cent) was taken from your deposit.  If the reciever of your email accepted the email, your deposit was returned to your account.  If your email was rejected, you loose your money.  Personally, I'm all for such a system.  Somebody paid for the junk my postman delivers.  

Ed (Posted 03.31.09 11:38 AM ) Report Abuse

First < 1 2 3 4 5 > Last

Send a Comment

Comments must be directly related to the blog entry. Comments with offensive language will be deleted. Your e-mail address won't be displayed.

(please, no HTML tags. Web addresses will be hyperlinked):