Scammer Red Flags Every Luxury Agent Should Know
10/15/2025
In the most recent episode of Estate of Mind podcast, host Tami Simms, co-host Jack Miller, and special guest Robert Stutts - Jack’s business partner at Onward Real Estate - tackle a challenge that many luxury agents do not talk about enough: scam buyers.
In luxury real estate, opportunity and risk often arrive in the same phone call. A client could be a celebrity vacationing in town, casually interested in a $10 million property or a fraudster seeing how far they can get before being asked to prove who they are. For Realtors at the highest levels, the ability to distinguish between the two, while handling the conversation with professionalism, is critical.
Drawing from years of experience in their competitive high-end markets, Tami, Jack and Robert share real stories and practical strategies for handling everyone from celebrity clients to fraudsters posing as wealthy buyers.
How to Recognize Real Buyers vs Scammers:
Build Layers of Safety
Safety should be embedded in everyday practice. Meet clients at the office, introduce them to staff, require ID, and work with concierges in high-rise buildings. These steps not only protect agents but also reinforce professionalism to genuine buyers.
Work as a Team
Jack and Robert often split responsibilities: one builds rapport while the other quietly researches the client’s background, connections, and wealth indicators. This teamwork helps spot red flags without disrupting the flow of conversation.
Leverage the Right Tools
Verification tools save time and add protection. Wealth Engine, available to Institute members, aggregates wealth data to confirm whether a lead is worth pursuing. FOREWARN provides instant identity and risk assessments, using just a phone number or name to flag financial data, ownership records, or even criminal histories. Together, they allow agents to verify clients before in-person meetings.
Language Matters
The way you ask for financial verification sets the tone. “Proof of funds” can sound confrontational. Reframing it as “verification of assets” makes it clear this is a standard step, not a personal doubt. One script to use:
“As you might imagine, in order to secure an appointment for a home at this price point, verification of assets will be required. Let’s be prepared to do that before we move further.”
This respectful framing helps clients feel prepared, not questioned.
Use Positioning to Keep Trust
Another tactic is shifting the requirement to the listing side. Phrasing it as a seller or broker requirement keeps the relationship positive:
“For some of these listings, sellers and their agents will require verification of assets. You don’t need to provide a bank statement - just a letter from your wealth manager confirming means.”
The Stakes Are Real
Not every lead is harmless. Jack recalls a man who toured properties using a fake contract as “proof of funds.” Weeks later, he was arrested for attempted murder. Scenarios like this highlight why protocols and vigilance are not optional - they protect both time and personal safety.
Celebrity or Not, the Rules Don’t Change
Whether the client is a music star like Jelly Roll, an actress like Reese Witherspoon, or an unfamiliar name, the principles remain the same: professionalism, discretion, and preparation.
Why This Matters
Behind the glamour of luxury real estate lies a complex balance of respect, caution, and business acumen. The ability to protect yourself while making clients feel valued is what separates great agents from the rest.
If you have ever wondered how top real estate agents navigate high-profile buyers, protect against scams, and master the delicate art of verification, this episode is one you will not want to miss. Tammy, Jack, and Robert’s insights are both eye-opening and practical and they will change the way you think about working at the top of the market.
LISTEN TO THE FULL PODCAST
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