Protecting Your Property Funds: How to Avoid Real Estate Scams

Scam activity in the real estate industry is at an all-time high, and unfortunately, buyers are being caught out. Across Perth and Western Australia, fraudsters are impersonating settlement agents and real estate agents, sending very convincing, fraudulent, emails requesting the transfer of large sums of money.

These scams are sophisticated and often look legitimate, using similar branding, professional tone, and near-identical email addresses. Sometimes the only difference is a small change in the domain, such as removing “.au” or switching around a couple of letters.

For example, ✅ Correct: info@adaptivesetts.com.au 🚫 Fake: info@adaptivesetts.com or info@adaptivesettIements.com (with a capital “I” instead of an “l”)

These small details can easily be missed, especially during the excitement and urgency of buying or selling property.

How to Protect Yourself from Real Estate Scams

If you are transferring funds for a property transaction, please proactively protect your money by taking a few key precautions:

1. Double-check email addresses. Look closely for subtle spelling changes, missing “.au” endings, or rearranged letters.

2. Verify account details via a secure method. At Adaptive Settlements, we use PEXA Key exclusively for the secure exchange of account information.⚠️ Never transfer funds based on bank details sent via email or PDF attachments.

3. Scrutinise the look and feel of correspondence. If an email appears even slightly unusual, check the sender’s address, tone, and signature formatting.

4. Confirm over the phone. Always call your settlement agent or real estate agent directly using a verified number (not one listed in the suspicious email) before transferring any money.

5. Trust your instincts. If something doesn’t look or feel right, pause and verify before taking any action. You are your first line of defence.

Your Responsibility to Stay Vigilant

While agents and settlement professionals are doing everything possible to prevent scams, you also have a responsibility to protect your funds. Cybercriminals are clever, but awareness and caution can stop them in their tracks.

If you ever receive unexpected or urgent instructions to transfer money, (especially if the account details differ from previous communications) contact your settlement agent immediately. A quick phone call can save you from a devastating financial loss.

At Adaptive Settlements, your security is our top priority. We take every precaution to safeguard your funds, using verified digital tools like PEXA Key and implementing strict verification procedures for all transactions.

If you’d like to learn more about how to protect yourself during a property transaction or want to discuss your upcoming settlement, get in touch with us today.