RAJ warns against sophisticated property scams following sign theft incident
/ Our Today
administrator
The Realtors Association of Jamaica (RAJ) is advising the public to exercise discernment and caution when engaging in real estate transactions.
This warning follows a sophisticated fraudulent scheme involving the theft and alteration of official real estate signage.
Recently, the RAJ was alerted to a disturbing case of identity and asset theft. Official ‘For Sale’ signs belonging to a licensed member were stolen from a property in Stony Hill, St Andrew. These signs were subsequently transported to Portland, where the contact information was professionally altered to display a fraudulent phone number. The signs were then illegally planted on a different property to mislead unsuspecting buyers.
The scam was only uncovered when an observant citizen, familiar with the legitimate agent, noticed the discrepancy in the contact details and reported it.
Protect Yourself: How to Spot a Scam
Scammers are becoming increasingly bold, using the “brand equity” of licensed professionals to lure victims. To avoid falling victim to these schemes, the RAJ urges the public to follow these safety protocols:
- Verify the License: Every legitimate real estate professional in Jamaica must be registered with the Real Estate Board (REB). Before calling a number on a sign, verify the agent’s name and phone number through the Real Estate Board’s official portal.
- Cross-Reference Information: If you see a sign for a property, search for that property on the official website of the brokerage listed. If the contact number on the sign does not match the office number or the agent’s official profile, report it immediately.
- Avoid “Cash-Only” Pressure: Scammers often pressure victims to pay deposits via wire transfer or cash to “secure the deal” before a formal viewing or legal vetting.
- We don’t ask for cash up front. Realtors are generally paid after the transaction is successful.
- Demand In-Person Meetings: Conduct business at the physical office of the real estate brokerage. Legitimate realtors operate out of established, verifiable locations.
A Statement from the RAJ
“This incident is a stark reminder that scammers are willing to go to great lengths, including physical theft, to defraud the public,” said the RAJ. “A real estate transaction is often the largest investment a person will make in their lifetime. Do not leave it to chance. Always insist on working with a licensed realtor whose credentials you have personally verified.”
The RAJ is currently collaborating with the authorities to investigate the theft and unauthorised use of member property.
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