Have you ever been approached with a “perfect” listing opportunity that seemed to check all the boxes—quick sale, motivated seller, and minimal effort required?
Let’s say that you are contacted by an individual who has recently inherited their grandparents’ 100-acre family farm. The individual lives out of state, has no plans to return to North Carolina, and expresses a strong desire to sell the property quickly and entirely through electronic means, including closing. They also request that you do not contact neighboring property owners or place a “For Sale” sign on the land, citing concerns about upsetting long-standing family friends. Although you inform them that the absence of on-site marketing may limit exposure to the property, they further indicate they are willing to accept a below-market price in order to facilitate a fast sale.
While these circumstances may initially appear favorable, they should prompt careful scrutiny and appropriate verification procedures by a broker. As a broker, it is essential to confirm the identity of the seller and their legal authority to convey the property.
Reasonable steps include:
Additional safeguards may include sending the listing agreement via secure, trackable delivery to the owner’s address of record and promptly notifying your Broker-in-Charge of any concerns; contacting neighbors and family members to confirm the seller’s identity, and asking the seller questions about the property that a real owner would likely know better than a fraudulent one.
Situations that appear unusually advantageous or restrictive in nature warrant heightened due diligence. As always, brokers should remember that when a transaction seems “too good to be true,” it merits careful verification before proceeding.