How to avoid real estate scams

Real estate transactions require moving large sums of money from buyers to sellers, a process that unfortunately entices scammers.

According to the National Association of Realtors and FBI data, more than 13,500 people were victims of wire fraud in the real estate and rental sector in 2020, a 17 percent increase over 2019, with losses of more than $213 million. In addition to being aware of the danger, consumers can take steps to reduce their exposure to scams.