Posted in Blog  
  on Apr 07, 2015

How To Verify a Realtors License

One of the common scams today is to pose as a Realtor. The scammer will represent homes that are for sale on free websites. When someone contacts them about the home, the fake Realtor will take the buyers through a very realistic process of purchasing the home. At some point a down payment will be required. It's at that point the scammer strikes, takes the cash, and disappears. Knowing how to verify a Realtor's license is one of the easiest ways to avoid this type of scam. Here's how you can do that.

1. Check With a License Verification Service.

There are organizations such as the National Association of Realtors that will help to verify the practice of its members when requested. Partnered up with Arello, many credentials can be directly verified online through the website arello.org.

2. Check With Your State, Province, or National Database.

Many jurisdictions require real estate agents to have a specific business license so they can conduct property transactions. These licenses are considered public record and can often be accessed online through the Secretary of State, Department of Labor and Industries, or other similar department in local government.

3. Conduct All Transactions With a Trusted Third Party.

You may be asked to produce evidence of a down payment during the application process for a mortgage, but you are very rarely required to submit that money to a real estate agent. Most down payments are transferred when the final paperwork is signed at the title and escrow office. If you are unsure of a request, ask for a trusted third party to witness the transaction.

4. Ask For Proof of Credentials.

Remember that business license that real estate agents must have? If you can't find one online, then you can ask the agent in question to produce their credentials. Realtors that refuse to do so are people that shouldn't be trusted. Period. Knowing how to verify a Realtor's license often means finding the right website, having the correct information about the real estate agent, and then clicking a command to verify. If the agent can't be verified, then refuse to provide any personal information or cash to this individual until they can be verified... or they move onto an easier target for their scam


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