Deepfakes and Their Impact on Real Estate

Have you heard the term “deepfake”? A deepfake is a type of artificial intelligence (AI) used to create convincing images, videos, or even audio hoaxes. Deepface technology digitally manipulates media to make people appear in photos or videos that they never actually participated in. A recent article from the National Association of Realtors (NAR) warns us that scammers are now using deepfake to impersonate real estate professionals and interfere in clients’ transactions.

Wire fraud takes place as hackers gain unauthorized access to email accounts or computer systems in order to intercept or redirect electronically transferred funds. As we’ve become more aware of wire fraud, we’ve begun verifying instructions, securing our communication, and raising awareness, thus making it more difficult for scammers to successfully commit wire fraud. However, deepfake is allowing scammers to become even more believable as they frame themselves as trusted real estate, mortgage, or title personnel.

With an increasing number of tactics that scammers are using to take advantage of people, it is becoming more and more difficult to decipher what is legitimate. The best thing we can do is always verify the information we receive. By being vigilant and taking proactive measures to safeguard sensitive information, individuals and organizations involved in real estate transactions can reduce the risk of falling victim to fraud.

About Jenny Vossler

Years working in real estate has taught me that everyone, including YOU, deserves a real estate agent who is highly experienced, has local knowledge, proven systems and procedures, and local connections in and out of the real estate industry. Whether you are buying, selling or investing, the transaction you’re about to embark on will have a large financial impact on your future.  Please make sure you choose an agent with unparalleled professional skills and high ethical standards to represent you. Give me a call – I look forward to learning about your real estate needs and personally discussing how I can be of service to you. I can be reached by call or text at (435) 559-1260, or by email at jennyvossler.homes@gmail.com.

Photo credit to kentoh (Retrieved from Canva on 03/12/2024)