Most of you are already aware of the seller impersonation scam. There is now a new scam where fraudsters pose as legitimate buyers in an attempt to infiltrate the devices and electronic files of the real estate agent or real estate brokerage.

This is how it works:

The agent is contacted by a ‘buyer’ interested in a property or engaging the services of the agent to represent them in their house hunt. However, this ‘buyer’ insists on a virtual meeting. While common versions of this scam use the Zoom platform, it could extend to any virtual meeting place. The buyer will insist on sending the agent the link to the meeting. The link sent by the buyer may look like a legitimate invitation to the meeting but clicking on the link causes malware or malicious software to be installed on your device that would give the fraudster access to files, passwords, emails and client information. The link may also attach a fake pop-up on your computer requesting that you update a particular program – clicking on the pop-up may make your device and files accessible to third parties.

How to protect yourself:

• Watch out for red flags:
  • A potential buyer requires you to attend a virtual meeting and does not wish to have an in-person meeting or communicate by telephone call or text.
  • There is an urgency for you to “hop on a quick Zoom call” with them.
  • The buyer sends you the meeting link and requests that you visit that site.
• If it is necessary to have a virtual meeting with a client, you should initiate the meeting from your verified account.
• Never click on links from unknown sources. If you are not sure of the safety of a link or suspect a scam, consult with your designated managing broker and your IT specialist.