Adam Pretorius, a seasoned Iowa real estate agent, fell victim to a vacant land scam where fraudsters impersonate landowners to sell their properties. Despite being a top performer, Pretorius' complacency prevented him from recognizing this particular threat early on. He learned scams related to vacant land are common, as fewer safeguards exist compared to homes. The increasing difficulty of finding developable land in the area reflects a more significant issue faced by the real estate market, emphasizing the need for awareness of fraud tactics and scams.
Scammers impersonate property owners to fraudulently sell vacant land, exploiting the belief that this type of fraud won't happen to experienced agents.
Land scams are easier due to fewer safeguards; no property access is required, making it a common tactic among fraudsters.
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