Blog by Lori Spada

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Real Estate License or Not?



Is the person you’re working with Licensed?
 

 

It’s always important to be sure you’re working with a licensed Real Estate Professional and not a scammer posing as one.  

 

A licensed professional, holds a valid license with the Real Estate Council of Alberta.  You can check the status of a person’s license by visiting www.reca.ca - once on the site, you can select “searching for an industry professional” and begin your search.

 

The Real Estate Council, just released a warning about potential fraudulent activity that often increases during times of economic uncertainty.  Bear in mind, that if something seems “too good to be true”….it probably is.  Use caution and do your research. 

 

Here, in part, is the press release from the Real Estate Council of Alberta.    

 

Real Estate Council of Alberta Urges Vigilance during Economic Downturns 

For immediate release
April 11, 2016

Calgary, Alberta - As Alberta's economic situation remains uncertain, the Real Estate Council of Alberta (RECA) urges consumers facing foreclosure or who have a mortgage in arrears to be wary of individuals offering solutions that seem too good to be true.

The Real Estate Council of Alberta (RECA) is the licensing and regulatory body for Alberta’s 15,000 real estate, mortgage brokerage, property management and real estate appraisal professionals. Consumers are at a significant risk when working with an unlicensed individual in a real estate or mortgage transaction. Often times it is unlicensed individuals operating foreclosure scams.

“Our concern is that consumers facing foreclosure will look for any help they can get,” says Charles Stevenson, Director of Professional Standards at RECA. “Fraudsters will promise to stop the foreclosure and keep you in your home. Unfortunately, instead of being rescued, fraudsters take your money, and you end up further in debt and possibly homeless.

“As a first step, consumers should always check if the person approaching them with an offer of help is a licensed real estate or mortgage professional,” Stevenson adds.