reporter2
16-03-22, 10:54
Scammers targeting real estate sector by passing off as agents on platforms
They ask for deposits before viewing, then become uncontactable upon receipt of money transfer
Mar 15, 2022
SCAMMERS are hitting potential home renters by impersonating property agents, and soliciting deposits even before viewing.
Property agency Huttons Group on Monday (Mar 14) warned of a new type of property scam that has surfaced. According to Huttons, the scammers claimed that they were real estate agents by using fake Council for Estate Agencies (CEA) identity cards, and then uploaded fake listings on alternative platforms.
When contacted by a prospective tenant, the scammer would ask for a deposit even before any property viewings were conducted. Upon receipt of the transfer, the scammer would then be uncontactable, Huttons said.
In one case, the scammer also sent a tenancy agreement for the tenant to sign and asked for deposits to "secure the unit first".
Huttons said: "Once transfers are made, the possibility of recovery is very low. As such, consumers remain the first line of defence against such scams."
The property agency has seen and reported 4 such scams, all of which were targeted at home renters, a Huttons spokesperson said. However, Huttons is not aware of the sums of money involved, he added.
Meanwhile, ERA Realty's key executive officer Eugene Lim said that the agency had similarly filed a police report for two of its agents, who reported the identity scams to the agency last week. In those cases, clients had handed over S$1,500 and S$1,600 to the scammers. Those clients were foreigners who were not familiar with the usual procedures for tenancy transactions.
Lim said that it was likely more cases would surface soon, as "scammers prey on the urgency that some tenants face due to the tight leasing market".
Singapore's private housing rents have climbed to a six-year high in Q3 2021, while Housing Board (HDB) rents rose for the 19th consecutive month in January, on the back of construction delays and growing expat arrivals.
OrangeTee & Tie also saw a case involving a unit put up for rent at about S$1,000. However chief executive Steven Tan noted that the agency does not know the actual sum taken during the scam.
He said: "A police report was filed. As an added measure, we took immediate steps to communicate the incident to all our salespersons, and urged our salespersons to advise their clients to remain vigilant."
He added that scammers seemed to be targeting new tenants, as they might be unfamiliar with how real estate agents work.
PropNex chief executive Ismail Gafoor said: "This is an industry-wide issue, and PropNex had already engaged our authorities for a dialogue and is invited to submit proposals to further safeguard consumers."
Yeo Chin Hao, legal counsel of Huttons Group, added: "Huttons would like to alert members of the public on how these scams operate and take care not to fall victim to these scams. We are working closely with CEA to educate other real estate salespersons and members of the public."
Huttons also advised people to take several precautions, such as only view listings from "reputable platforms" because they conduct proper screenings and only allow verified property agents to advertise.
Renters can also check a property agent's details against the CEA Public Register to verify that the property agent is registered with CEA, which is a government-run body regulating Singapore's property agencies.
"You can do this by searching for the property agent on the CEA Public Register using the advertised phone number on the property listing. If the search does not lead to a property agent's profile page, it means that the phone number is not registered with CEA by any property agent, and could be an indication that the advertisement is a scam," Huttons explained.
The property agency also urged the public not to transfer money to strangers.
"When in doubt, get advice from a family member or another real estate salesperson," it said.
They ask for deposits before viewing, then become uncontactable upon receipt of money transfer
Mar 15, 2022
SCAMMERS are hitting potential home renters by impersonating property agents, and soliciting deposits even before viewing.
Property agency Huttons Group on Monday (Mar 14) warned of a new type of property scam that has surfaced. According to Huttons, the scammers claimed that they were real estate agents by using fake Council for Estate Agencies (CEA) identity cards, and then uploaded fake listings on alternative platforms.
When contacted by a prospective tenant, the scammer would ask for a deposit even before any property viewings were conducted. Upon receipt of the transfer, the scammer would then be uncontactable, Huttons said.
In one case, the scammer also sent a tenancy agreement for the tenant to sign and asked for deposits to "secure the unit first".
Huttons said: "Once transfers are made, the possibility of recovery is very low. As such, consumers remain the first line of defence against such scams."
The property agency has seen and reported 4 such scams, all of which were targeted at home renters, a Huttons spokesperson said. However, Huttons is not aware of the sums of money involved, he added.
Meanwhile, ERA Realty's key executive officer Eugene Lim said that the agency had similarly filed a police report for two of its agents, who reported the identity scams to the agency last week. In those cases, clients had handed over S$1,500 and S$1,600 to the scammers. Those clients were foreigners who were not familiar with the usual procedures for tenancy transactions.
Lim said that it was likely more cases would surface soon, as "scammers prey on the urgency that some tenants face due to the tight leasing market".
Singapore's private housing rents have climbed to a six-year high in Q3 2021, while Housing Board (HDB) rents rose for the 19th consecutive month in January, on the back of construction delays and growing expat arrivals.
OrangeTee & Tie also saw a case involving a unit put up for rent at about S$1,000. However chief executive Steven Tan noted that the agency does not know the actual sum taken during the scam.
He said: "A police report was filed. As an added measure, we took immediate steps to communicate the incident to all our salespersons, and urged our salespersons to advise their clients to remain vigilant."
He added that scammers seemed to be targeting new tenants, as they might be unfamiliar with how real estate agents work.
PropNex chief executive Ismail Gafoor said: "This is an industry-wide issue, and PropNex had already engaged our authorities for a dialogue and is invited to submit proposals to further safeguard consumers."
Yeo Chin Hao, legal counsel of Huttons Group, added: "Huttons would like to alert members of the public on how these scams operate and take care not to fall victim to these scams. We are working closely with CEA to educate other real estate salespersons and members of the public."
Huttons also advised people to take several precautions, such as only view listings from "reputable platforms" because they conduct proper screenings and only allow verified property agents to advertise.
Renters can also check a property agent's details against the CEA Public Register to verify that the property agent is registered with CEA, which is a government-run body regulating Singapore's property agencies.
"You can do this by searching for the property agent on the CEA Public Register using the advertised phone number on the property listing. If the search does not lead to a property agent's profile page, it means that the phone number is not registered with CEA by any property agent, and could be an indication that the advertisement is a scam," Huttons explained.
The property agency also urged the public not to transfer money to strangers.
"When in doubt, get advice from a family member or another real estate salesperson," it said.