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Investor safety: Protect yourself when showing your properties

By Jordan Taylor

In 2006, a real estate agent working at an open house in McKinney, Texas, was brutally murdered. An agent in St. Petersburg, Florida, was attacked, robbed and her car stolen by a young man armed with a gun and a 12-inch hunting knife who had posed as a customer. Within 11 days in DeKalb County, Georgia, three different real estate agents were robbed by an armed couple in incidents authorities believe were connected.

These alarming confrontations bring the issue of personal safety for all real estate professionals to the forefront. It is a sad fact that many of the activities necessary for successful real estate investing, such as showing properties to potential buyers or renters, have some degree of risk. You may often be alone with people you don’t know, creating a potentially hazardous situation.

While statistics by occupation have not been kept, real estate agents have been murdered, sexually assaulted, robbed, and carjacked in the course of doing business. It’s logical that a real estate investor could fall victim to the same crimes, but with awareness and by taking some simple precautions, you can protect yourself.

Keep these safety tips in mind:

 Whenever possible, meet prospective buyers and sellers in a public place. Fast food restaurants are great places to review paperwork. The meeting also gives you a chance to find out as much as you can about the prospect, including where they work, what they do, how much they earn, and so on. This helps you qualify the individual as a potential buyer or seller as well as giving you a sense of whether they are legitimate or not.

 Don’t assume that because the prospective client is a woman that she means no harm. Increasingly, women are being used to set up a victim for a male perpetrator—or women are actually committing the crimes. Be equally cautious with both males and females.

 Always carry a cell phone and keep it accessible. Carry it in your hand, clip it to your belt, or keep it in a pocket—don’t leave it in the car or let it drop to the bottom of your purse or briefcase. Program emergency numbers into your speed dial. Keep your cell phone charged. Carry a car charger to use if necessary.

 Invest in a cell phone with a GPS feature so that emergency responders can find you if you are unable to speak or relay your location.

 Always take your own car when showing or inspecting property, and lock it when you leave it, even if you’re only going to be a few steps away. Also, keep it locked at all times while driving.

 When showing a property, follow rather than lead the prospect through the house, and don’t let him get between you and the door. Avoid going into the basement or other confined areas with someone you don’t know well.

 Let someone know where you’ll be. If you are inspecting or showing properties, or meeting with prospects, be sure someone knows where you are and when you expect to return. Have a plan ready in case you don’t return on schedule. For example, if you don’t return or check in with a designated person by a certain time, that person should call police.

 Set up a code word to let others know you are in trouble. Decide on a word that you can say to a business associate or someone on your office staff that lets them know to immediately call the police, no further questions asked.

 Carry pepper spray and know how to use it. Remember that pepper spray and similar chemical defense items may be regulated, so check with local authorities to find how what and how much you can legally carry. Consider taking a personal safety course so you’ll know what to do if you’re attacked.

 Dress for safety. Don’t wear expensive jewelry. Wear clothing appropriate for the weather. If your car breaks down or you need to escape a dangerous situation on foot, you may find yourself exposed to harsh weather conditions for an extended period, so keep a coat handy in the winter. Choose shoes that will allow you to move quickly if necessary.

 If anything makes you uncomfortable, get away from the situation. No deal is worth your life. Remember, no one has ever died from embarrassment—better to feel a little foolish than to become a crime victim.

Comments

well said

Thanks, Harvey. It's unfortunate that we have to worry about these things, but that's just the way things are.

If any of our readers have additional safety tips, please share them.

Jordan,
Thank you for these excellent safety procedures -Wonderful things to know! Thank you so much! To help even one person means one less victim. I would, if I may, add a few more things: Constantly look around you, being totally aware of your surroundings when walking to and from your car. Assume a confidence that tells a would-be perpetrator that you wouldn't be an 'easy' victim. Plus, always check the floor of the back of your car before entering. A person could find a way to enter your car, relock it, and wait for his victim.

Lynn,

Those are excellent tips -- especially the one about checking the car for an intruder before entering. It's easy to assume that if you locked the car when you left it, and it's locked when you return, that no one has gotten into it -- but you could be very, very wrong.

And yes, use your body language to announce that you are not an easy target.

Another reason for staying aware of your surroundings, in addition to avoiding a dangerous situation, is so that if something does happen, you will be able to give good information to the police.

Thanks for sharing. Let's all have a safe 2008!

Jordan

I found this article very informative and it will help me tremendously. My husband and I are new investors. We cannot thank you enough for the very useful info on foreclosures and protecting ourselves in these new and scary times. I am especially glad to hear the compassion you show for the person facing foreclosure. We share your feelings and will remember that in our deals.

Thank you,
Carol in Illinois

Carol,

We do live in frightening times, and it's sad to think that you can be harmed when you're just trying to make a living and help people. But you can, so we're glad to be able to offer some tips to reduce your risks.

We also believe in teaching our students how to put together win-win deals, no matter what the circumstances, and no matter what strategy is being used -- whether it's foreclosure, lease options, rehabs, etc.

Thanks for taking the time to comment.

Thank you for this information. I have heard some of it before but it helps to be reminded.

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