Buying a home is one of the largest financial decisions most families will ever make. Selling a home can

involve hundreds of thousands of dollars changing hands. Unfortunately, that makes real estate transactions attractive targets for criminals.

Here in Northeast Tennessee, we often think of real estate as a very personal business. We know our communities, our neighborhoods, and, many times, the people sitting across the closing table. But technology has changed the way real estate transactions are conducted—and it has also changed the way criminals try to take advantage of consumers.

The National Association of REALTORS® (NAR) is warning consumers to be increasingly alert for sophisticated scams that can occur at virtually any point in a real estate transaction. Those scams can include phishing emails, fraudulent wire instructions, property and title fraud, and even the use of artificial intelligence to impersonate people involved in a transaction.

For consumers in Northeast Tennessee, there is a simple message I hope you will remember:

Stop. Verify. Then act.

If you are buying or selling property and receive an unexpected email or text asking you to send money, change wiring instructions, provide a Social Security number, share a password or give other sensitive financial information, stop before doing anything.

Do not assume a message is legitimate simply because it appears to come from your REALTOR®, lender, title company, attorney or another person involved in the transaction. Criminals may attempt to impersonate legitimate participants or compromise communications. NAR advises consumers to independently contact a trusted professional using a phone number or email address they already know to be legitimate—especially when instructions change at the last minute.

The Tennessee Attorney General’s Office has also warned Tennesseans about phishing and wire-fraud scams targeting real estate transactions, including schemes aimed at obtaining information connected to homebuyers and title companies.

Another warning sign is a property offered for sale or lease under unusual circumstances. Be cautious when someone claims to own property, wants to handle everything online, pressures you to move quickly or asks you to send money before you have independently verified the information.

A REALTOR® can assist consumers in checking available property information and identifying inconsistencies that may deserve a closer look.

Homeowners should also pay attention even when they aren’t buying or selling. Title and deed fraud can involve forged documents intended to improperly transfer an ownership interest in property. NAR recommends periodically checking county property records and determining whether your county offers notifications when documents are recorded involving your property.

That is particularly relevant here in Tennessee. State research has reported that property owners can sign up for free email alerts concerning document filings in most Tennessee counties. Check with your local Register of Deeds to find out what services are available in your county.

Consumers should also be skeptical of high-pressure real estate investment opportunities. If someone tells you an “exclusive” opportunity will disappear unless you send money immediately, don’t allow urgency to replace due diligence. Talk with trusted financial, legal and real estate professionals before committing your money.

Most importantly, if you believe money has already been sent to a fraudster, act immediately. NAR advises that the first 24 to 48 hours can be critical. Contact your financial institution and law enforcement as quickly as possible and report suspected internet-related fraud to the FBI’s Internet Crime Complaint Center (IC3).

Technology brings tremendous convenience to the real estate process, but convenience should never replace caution.

As REALTORS® serving Northeast Tennessee, we want consumers to feel comfortable asking questions. If something about a transaction doesn’t look right, sounds unusual or creates a sense of urgency, don’t be embarrassed to stop and verify it. Making one additional phone call could protect your identity, your savings and perhaps the equity you have spent years building in your home.

Whether you’re buying your first home in our region, selling a longtime family property, purchasing land or simply protecting the home you already own, remember three words:

Stop. Verify. Act.

Those few extra minutes could make all the difference.

This column was prepared for the Northeast Tennessee Association of REALTORS® using information from the National Association of REALTORS® Consumer Guide: Fraud Red Flags, Tennessee consumer-protection resources, and assistance from ChatGPT. The Northeast Tennessee Association of REALTORS® encourages consumers to work with trusted real estate, financial, and legal professionals when buying or selling property. For legal advice, consult a Tennessee-licensed attorney.