For-Sale Listings Being Misrepresented as Rentals on Social Media

This serves as a timely reminder for REALTORS® to educate consumers on common scam warning signs, including listings that cannot be verified, requests for payment before a property tour, and rental applications seeking personal information before legitimacy has been established.

Reports indicate that legitimate homes recently listed for sale in our area are being copied from real estate websites and reposted on social media platforms, including TikTok, as rental properties that are not actually available for rent.

In many reported cases, prospective renters respond to an advertisement and are directed to communicate with the person posting the listing outside of the platform. The scammer may then request money before the property is viewed, often claiming the payment is for an application fee, security deposit, or fee to "hold" the property.

The risk extends beyond financial loss. Fraudulent rental applications may request sensitive personal information, including driver's license numbers, Social Security numbers, employment details, and banking information. Even if no payment is made, that information can be used for identity theft or other fraudulent activity.

Consumers should be cautious of anyone who pressures them to move a conversation off a social media platform, submit personal information without verification, or send money quickly to secure a property. Taking a few extra steps to verify a listing and confirm the identity of the person advertising it can help prevent both financial loss and identity theft.

It is important to note that not all rental listings on social media are fraudulent, and many individuals and businesses use these platforms responsibly to market rental properties. The purpose of this alert is simply to raise awareness of a scam pattern involving legitimate local for-sale listings that have been repurposed and falsely advertised as rentals.

Staying informed and exercising due diligence helps protect consumers, strengthen client trust, and safeguard the integrity of the real estate profession.

Source: CNC Intelligence, “TikTok Rental Scam: Warning Signs”