Jamaicans urged to be cautious of social media property advertisements

Jamaicans are being urged to exercise caution when conducting transactions for properties advertised on social media, amid concerns about fraudulent real estate listings.

Senior Director and Principal of the Real Estate Training Institute at the Real Estate Board (REB), Dr Tina Beale, made the appeal in a recent interview with JIS News.

Beale also advised persons to be wary of property listings offering prices significantly below market value, noting that such offers could be an indication of fraudulent activity.

“If you see something that is telling you…you can get a place in Mona to rent for $30,000 or $40,000, way below the market price, something is wrong with that,” she told JIS News.

She noted that the Board conducts daily checks of media platforms to identify suspicious property advertisements.

Beale also warned consumers against paying money to view properties or depositing funds into bank accounts to persons advertising the properties.

“Never you pay money to view properties. You don’t pay money to view a property. You don’t deposit monies into bank accounts,” she emphasised.

She explained that when advertisements are identified as scams, the Board issues public advisories and social media notices warning consumers against conducting business with the individuals involved.

Beale also warned against making payments in digital currency and encouraged persons to verify whether individuals offering real estate services are licensed by the Board.

Persons who encounter suspicious property advertisements are urged to contact the REB directly or visit its website at www.reb.gov.jm to report their concerns.

- JIS News

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