How Do Real Estate Agents Conceal the Identity of a Buyer?
Whether you buy real estate off the market or not, you might ask, how do real estate agents hide the identity of a buyer? Often, high-net-worth individuals choose to sell their properties off-market. This means buyers who wish to remain anonymous must take extra steps to make the deal go through. They might also want to protect their business presence by buying a massive property off-market. But most buyers simply want to remain anonymous for reasons of safety.
One way to hide your identity is by using a limited liability corporation. This type of corporation exists solely for the transaction and is often named after the property’s address. However, it may leave breadcrumbs that identify the buyer and can be traced back to a specific person. This is how some shady buyers can steal money. Here are some strategies agents use to hide the buyer.
The best way to hide the identity of a buyer is to avoid revealing their identity. If you do this, you should avoid sharing your identity with a real estate agent. Many agents sign non-disclosure agreements that prohibit them from sharing their identity with anyone. These agreements are difficult to enforce, but they serve as a deterrent. However, if you do find a real estate agent who is willing to help you, ask them about their experience with keeping their client’s information private.
While it is true that real estate agents cannot hide their status as professionals, there are some cases where they do. One such case involves Ruth Wordelman, a top real estate agent in Colorado. She is also a licensed attorney under the Colorado Bar Association. Although her knowledge of the legal aspects of selling a home may be useful, she should never give legal advice to a buyer. The “unauthorized practice of law” is forbidden under Colorado law.