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Commission hears about rising seller-impersonation fraud; presenter offers red-flag materials
Summary
Commissioners and a presenter described growing seller-impersonation fraud and the need for up-to-date training; presenter said the proposed course includes red-flag guidance and offered to share a list of towns and best practices.
Commissioners raised concerns about increasing seller-impersonation fraud in real-estate transactions and whether licensees have access to up-to-date training. The presenter said the proposed course includes documents on red flags and best practices for addressing seller impersonation and offered to circulate a list of towns that have adopted local measures.
Department staff and commissioners acknowledged the problem's scale and sophistication and said licensees need vigilance and better tools to verify sellers. One commissioner noted the issue has grown more sophisticated, saying practitioners must raise their threshold for detection. The presenter offered to provide commissioners with course materials and a towns list to inform future guidance and training.
