Be alert: Recent REALTOR®-focused scam active in Memphis

MAAR members,

This week, a MAAR member was contacted by a person claiming to be an asset manager, offering support with REO pre-foreclosure and foreclosure properties. They would handle several property management functions for a downpayment, which was to be returned to the REALTOR® upon closing. They provided a legitimate phone number and email address that were then invalidated when the REALTORS® payment was processed and the scam was complete.

If you experience a real estate scam, please alert MAAR so we can inform other members.