Real estate scams on the rise in Jamaica

Residents living abroad who are planning to buy or rent houses in Jamaica are asked to be cautious. Scammers are trying to exploit desperate home buyers by infiltrating the real estate market through Internet channels.
This is according to the Director of the Real Estate Board of Real Estate Dealers and Developers, Claudia Allen.  “I think because people need houses urgently, they are not really doing their due diligence,” Allen stated.
The director of the real estate board also expressed her knowledge of learning of criminals who were trying to mislead prospective tenants into sending money via bank transfer by posting phony ads on internet hubs. She explained that fraud postings include photos of actual local apartments that have been stolen from authentic listings or no images displayed. Instead, buyers are asked to contact businesses via WhatsApp or telephone for additional details.
Ms. Allen hastens to add that she is increasingly worried about how technologies have advanced Artificial Information, which is being exploited to facilitate these types of fraud. “It might seem legitimate, but when you dig a little deeper it is sending you somewhere else to collect your information,” she commented.
Ms. Allen said that the problem has grown, and her staff has just sent a fraud notice to residents after learning about a case. “One person actually copied (a relator’s) license number, which is the extent that they go to. We found there was a female, and she had a real estate salesperson number, and the telephone number was an overseas number. When you proceed with that number, it asks you to submit unrelated information. It is going to another extent, which is not real estate business…in any way, shape or form.”  She emphasized further, stating that granting access to information on a property should not require disclosing personal information.
She expressed that “…there should be no finder’s fee in terms of down payment to look at a house. That is a no-no.” Allen noted that asking for a listing in exchange for a one- or two-week subscription fee is also an improper procedure.
The Jamaica Classifieds apps offer a report feature for questionable activity and caution potential buyers/tenants against sending any money to people posing as realtors or landlords before viewing a property. Notices will be listed if a property has violated the app’s guidelines. “I can’t say it’s a buyers’ market; it’s a vendor’s market,” the real estate developer emphasized. Ms. Allen noted that sellers charge higher prices than the values, preventing some residents from participating in the market in the metropolitan areas.
“People are buying, not necessarily Jamaicans. We have overseas persons who are buying these properties, so it does not leave a lot for middle or low-income buyers. “The board of directors stated that the lack of real estate understanding adds to the problems. Hoping she commented that public education on real estate becomes a driving force for public awareness.