What exactly are all these WhatsApp real estate leads we keep receiving? Has the market shifted over to using an app that allows people from over 180 countries to easily communicate? More importantly, should you follow up on these leads at all? After all, there may be some customers who use WhatsApp. You yourself might have an account there, especially if you enjoy international travel. WhatsApp allows you to stay in communication very easily with no international call charges. In fact, this is one of the main benefits of using WhatsApp! According to the WhatsApp Help Center:
“Voice calling lets you call your contacts using WhatsApp for free, even if they’re in another country. Voice calling uses your phone’s internet connection rather than your mobile plan’s minutes. Data charges may apply.”
What’s The Real Deal With These WhatsApp Real Estate Leads?
Invariably, many of these WhatsApp real estate leads are scams looking for victims. Do you know who the victims are? This would be YOU, the real estate agent! According to the North Carolina REALTORS®, they see several reports of fake buyers on WhatsApp. These fake buyers typically reach out or direct an agent to contact them via WhatsApp. After developing what appears to be a legitimate buyer/agent relationship, the fake buyer may:
1. Tell the agent they will purchase the property made with cash through trading crypto currencies.
or
2. Request the agent send a verification code they have generated.
What’s Wrong With These Scenarios?
What’s wrong is that…YOU are the target of these scams!
In the first scenario, the fake buyer wants to encourage you to make crypto trades on their website. Once you input your banking information, the fake buyer takes YOUR money and runs. So these are not WhatsApp real estate leads; they are fishing expeditions for your money!
When it comes to the verification code scam in the second scenario, this means the fake buyer already has access to one or more of your accounts. As a result, they will use the verification code to change your passwords and successfully hack into your accounts. Whatever the account is, they may just hold it for ransom and want you to send money. All your hard work building your contact database and sphere of influence could be lost.
Why Do These WhatsApp Real Estate Leads Choose WhatsApp?
Ultimately, the scammers are most likely in another country. As a result, they prefer to use WhatsApp to save their own money when contacting you. They know that eventually you will want to speak with them on the phone, so WhatsApp lets them save their money while they set YOU up for the scam. Of all the WhatsApp real estate leads I have known about or been made aware of through other agents, not a single one has resulted in a sale. In fact, often there are tales of loss and heartache…for the agents!
How Can You Spot Issues with Leads?
Just like in any real estate transaction, be sure to perform your due diligence. For example, when the fake buyer tells you they will buy with cash made from their crypto trading, require them to send proof of funds. Often you may see a bank statement that looks “funny” with strange irregularities like these following images:


How To Keep Safe From Scams Like WhatsApp Real Estate Leads
One way you can keep safe from scams like WhatsApp real estate leads is to educate yourself about them. Keller Williams Arizona Realty provides resources such as classes and blog posts relating to a variety of helpful topics including deed fraud, the introduction of AI in real estate, and industry changes. The more you know, the better off you and your clients will be!
Keller Williams Arizona Realty is widely known as the best Scottsdale real estate brokerage, and for good reason. The KWAZ Coaching Program provides agents with an excellent training and foundation for the highest success in their business. Additionally, the Leadership Team is focused on agents and their success; this is evident in the extensive range of educational programs and opportunities at the market center. Contact any member of our Leadership Team today; they will be glad to share all the benefits KWAZ has to offer your real estate business!
Social Media Icons on Phone Image by Thomas Ulrich from Pixabay