Warning on deceptive online ads for unlicensed realtors
Suspect real estate advertisements circulating on social media under the names “Fortress Real Estate” and “Butterfield Realtor” have been flagged up by the Office of the Superintendent of Real Estate.
The office said a member of the public also reported being asked to pay a 30 per cent deposit in advance to secure an appointment to view rental properties.
Neither firm holds a real estate broker’s or agent’s licence issued by the Superintendent of Real Estate, meaning they are not authorised to conduct real estate brokerage activity in Bermuda.
The office said that the display of a certificate or other document online does not, by itself, establish the legitimacy of a person or business.
The public were reminded to first consult the list of licensed real estate brokers and agents published on the Government of Bermuda portal.
For the most recent confirmation of a broker’s or agent’s licensing status, e-mail realestatelicenses@rocbda.com.
The public should also independently verify the identity and contact details of the person or business, and use caution when payment is requested before a property viewing or before the identity and authority of the person offering the property have been verified.
They should avoid sending funds or personal information where the legitimacy of the transaction is uncertain, and retain copies of advertisements, e-mails, messages, payment requests and other correspondence.
Anyone who has communicated with, provided personal information to or made a payment to a person operating under either of these names should retain all relevant evidence and report the matter to police.
