California real estate – how to spot a spy
This article is written from the perspective of a Los Angeles real estate agent who occasionally encounters individuals claiming to be prospective new residents — but some are actually spies. Their intention is to gather information by pretending to be a real estate buyer. They will either not sign a representation agreement, or they will haggle to change the terms. Do not change any terms for a suspected spy, often a foreign citizen from a country linked to communism, socialism, or authoritarianism such as China, Russia or North. They will make more promises, attempt to be more endearing. The spy will offer to buy you food, wine, or pay for expenses. They will often have two, sometimes three different names. They may give a smaller price point for the price of what they want, then they may raise it later or start looking in a higher price range. They will be looking over a longer period, sometimes more than six months, to gather more information. They will look at more properties, 10-30 properties, instead of the usual 7-10 properties.
If you suspect a spy, real estate agents should consider the best strategies. The most successful tactic is to place strict requirements for the suspected buyer spy to sign a buyer agreement. Also, press the spy to provide proof of funds and a pre-approval letter after seeing not more than 1-2 properties.
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