An alarming absence of a real estate agent. Missing agent with your deposit, rent, commission or closing funds is an emergency.
The first rule is simple: do not wait and see.
Contact the bank straight away
If you paid by bank transfer, immediately contact the fraud department of the bank where you sent the wire and ask them to recall or freeze the wire. If you made the transfer through a title company, escrow company or broker, contact that business directly with a phone number you find on its official website, not one provided in an email or text.
Time is a good. Real estate deals are a favorite target for “business-email-compromise” scams in which criminals pose as agents, brokers, title companies or lawyers and redirect money to fake accounts, the FBI has long warned. A bank cannot guaranty recovery but the sooner it is reported the better the chances of acting before the money is moved.
Report the transaction as fraud if you paid by credit card, debit card, check or payment app and ask about dispute or recall procedures. Do not send any more money to “unlock” or recover the original payment.
Verify what happened
Contact the agent’s brokerage, managing broker and the title or escrow company associated with the transaction. A license can be revoked, an agent can leave a firm or become unreachable and the brokerage might not know that client funds are missing.
Report the conduct
File reports with the police.
If the money was part of a mortgage or closing transaction, notify the lender, title company and closing attorney immediately.
Preserve every record
Save emails, texts, contracts, receipts, wire instructions, bank statements, advertisements, voicemail messages and screenshots. Write down dates, names, account numbers and exactly what was promised. Do not edit or delete messages. This evidence may support a police investigation, regulatory complaint, insurance claim or civil lawsuit.
Speak with a lawyer quickly
A lawyer who handles real estate fraud or commercial litigation can identify the right defendants, seek emergency court orders and advise you about deadlines. Do not assume that a brokerage is automatically responsible, or automatically protected, from the agent’s conduct. Liability depends on the facts, the agent’s relationship with the firm, the type of payment and state law.
Finally, beware of recovery scams. Fraud victims are often contacted by people promising to retrieve the money for an upfront fee. That is frequently a second fraud.