New Scam Targets Florida Realtors®

Mar 23, 2017

As a Boca Raton real estate agency, we know better than most how fast-paced the world of South Florida real estate can be. As a result, when a Realtor® in our bustling area receives a notice in the mail that his/her board listing is set to expire unless a fee is paid, one might send in the bill without a second thought. Unfortunately, the latest scam takes advantage of this likelihood, in hopes that the receiver will overlook one critical detail: the organization requesting payment does not exist.

About the Scheme

The scammers in question claim to be the “Florida Board of Realtors.” Of course, we know that such an organization does not exist in the Sunshine State. Instead, we have Florida Realtors®, which is urging its members to be wary of invoices received in the mail recently. The notices call for a $225 fee to prevent one’s board listing from closing, stripping the agent from his/her Realtor® status. Additionally, the letter makes claims that failure to respond with payment could put the individual’s real estate license in jeopardy as well — an assertion which is entirely false.

Aside from the fact that the organization is fictitious, the scheme can seem perfectly believable at first glance — especially considering the lengths the scammers went to ensure many would fall for it. For instance, the notice even includes a phone number, which when called greets the caller with a recording that prompts him or her to send in the payment to resolve the issue. The fraudster even made sure to use a name which is reasonably close to that of Florida Realtors®, but not quite the same. That said, the NAR filed a complaint in response to the usage of the term “Realtor®,” which as most people know is trademarked.

At Stein Posner, ensuring members of our South Florida real estate family flourish in the industry is our top priority. Whether that means informing our team of the latest scam plaguing the industry, or providing in-depth trainings, you can count on us to help you succeed. To learn more about how to become a member of our team, give us a call to Boca Raton real estate agency today.