Two More Real Estate Scams For Agents To Be Aware Of

Real estate agents in Western Australia have been targeted by overseas scams.

In one case an agent was made an offer on a property from a buyer in China and an Offer and Acceptance form was completed. After the agent requested a deposit of $10,000 be paid, what appeared to be a bank draft of $250,000 was received from the buyer. 

The agent contacted the bank from which the draft was apparently drawn and it was discovered that it was forged. Had the agent not discovered the deposit was fraudulent, it is assumed that the scammer would have requested a refund of the $240,000 they had over paid. 

In another case reported to the Board, an individual posing as a Chinese buyer had taken an interest in WA real estate and insisted on paying the asking price ahead of time. Eventually a very real looking, but fraudulent cheque was received. 

Consumer Protection’s WA Scamnet offers advice on what to do if you encounter these types of scams. This website also provides information on a range of other scams currently targeting businesses in Western Australia. 

Scams should be reported to the police and to Consumer Protection by contacting WA Scamnet by email or phoning their advice line on 1300 30 40 54 (for the cost of a local call statewide) 8:30am – 5:00pm weekdays.