Safeguards Save Time & Money In Real Estate
Posted on August 23, 2008 | Filed Under
Identity Theft Fraud
Today the potential for fraud involving real estate transactions may be more prevalent than what consumers may think. Forgery, fraud and identity theft crimes are at an all time high. By implementing some simple safe guards and additional security measures both consumers and real estate professionals may alleviate some of these risks. The growing number of cases involving identity theft, fraud, and forgery are related to the increasing number of private records available to the public today. It is impossible for the real estate community to be immune from the hi-tech crime epidemic.
Locally the Multiple Listing Service increased database security levels by providing to subscribers a RSA security device to be utilized in addition to the standard user name and passwords when accessing their site. Realtors, brokers, title companies and the real estate data furnishing companies have a responsibility to upgrade their security measures to safeguard consumers as well.
Surprisingly, few real estate professionals ask consumers for photo identification. Just as disturbing is how few title companies verify a real estate professional\'s license. Verifying a person\'s identity and the professional\'s license are the first steps towards preventing identity theft and fraud. These security measures indicated below are safeguards to help protect real estate professionals and consumers. By implementing these three simple safety measures the real estate professional and consumer are working together to prevent crime.
1. Verify the identity of all prospects. When a real estate professional or consumer shows their home to a prospect the parties should provide photo identification for security purposes. It is also recommended that the prospects sign a written log such as a guest book. This record should be kept by the seller or the seller\'s real estate agent. Identifying the prospects will provide additional security and privacy protection for the seller.
2. Verify the real estate professional\'s license. The real estate professional\'s license should be verified by the consumer and the escrow company providing settlement services. According to the California Association of Realtors the numbers of transactions involving unlicensed persons posing as a licensed real estate professional rising. Verifying the real estate professionals\' license will save consumers valuable time and money. A good way for the consumer to verify the professional\'s licensee is to visit the California Department of Real Estate\'s web site at www.dre.ca.gov.
3. Included within the closing documents should be copies of the signors photo identification. This added safety measure is an additional safeguard for the protection of both the consumer as well as the real estate professional if later a claim of fraud or forgery arises.
By implementing these added safety measures the real estate community and consumers will be doing their part to help prevent the growing number of white collar crimes being committed within our nation.
Self-Motivation is the Key to Your Success!
Motivation is so important to your success. And lack of motivation is the number one reason why would-be Real Estate Investors do not fulfill their p...
Kitchen Remodeling For Your Montana Real Estate
Kitchen remodeling costs are always likely to be an obstacle to getting the dream kitchen you have always wanted. A fully equipped kitchen with that o...
Moms Managing Time
Time Management is consistently mentioned as one of the top three things my Real Estate Moms want to work on with a coach. So isn't it ironic that onc...
The Busy Life of a Real Estate Mom - How to Have Time for Dad Too! Five Steps to Get You Started
As a real estate mom, juggling goals between work and kids can be difficult on its own. Fitting in some all important time for dad can often seem ove...
Focus On The Questions
I have always believed that the questions that I ask myself will shape my future. There is nothing more important to my business and individual succe...
His and Hers in The Trendy Kitchen
It used to be that a woman's place was in the home - but even the trendiest homes are now admitting that cooking is enjoyed by both sexes.Maybe you li...
Five Low Cost Ways To Revitalize A Kitchen Without Busting Your Budget
Are you tired of the outdated look of your kitchen but are short on cash? r According to Remodeling Magazine, and their annual survey, a minor kitche...
Guide To Protecting Your Finances For Divorce
Our introduction to this topic will include the basics, which will be followed by a more in depth look at this topic.If you think that you will be fin...
Kitchen Remodeling ROI - Return On Investment
The cost for your kitchen remodeling project should be based on the value of your home. Investing too much could lead to a poor return on investment o...
Home Loans - Identity Theft Protection Could Hurt Home Sales
Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised...
Escape to New Landscape with RV Camping
Today's fast-paced, hectic lifestyle can sometimes wear on you. With the demands of the office and then at home, you may find yourself ready for a bre...
Kitchen Remodeling 101
Remodeling a kitchen can be a giant task that often can seem overwhelming. Not only in the scope of the work but also from a bank account standpoint. ...
Nun a Victim of Identity Theft
In the US, investigators in cases of identity theft are expected to
be making arrests soon (January 2007). An organised gang of criminals have been ...
Can A Wife Prevent A Divorce
Can one spouse prevent a divorce from happening?Do you like to learn about new and interesting things? If so, then this article will be right up your ...
Budget Kitchen Remodeling
Of all the rooms that consist any home property, only a surprising few adds considerably to the overall value of the said property. These areas, refer...