Definition of "Con"

Tom Jones Group real estate agent

Written by

Tom Jones Groupelite badge icon

Keller Williams Realty

Con can mean the downside of any relevant aspects that need to be weighed and evaluated before any decision is made. For example, there are pros and cons to living near an airport and one must decide if it would benefit them or not to move in the vicinity of an airport. 

Another meaning for con is scamming or someone’s ability to persuade by lying or not offering valid information. Con could be an instance of deceiving or tricking people in order to have some sort of gain after it. For example, a person that uses deception to get someone’s money is a con.

Con in real estate

In real estate, con can be identified as a scam artist or a person involved in real estate that has the ability to deceive in order to obtain something from his victims. A planned scheme that has the sole purpose of deceiving for monetary gains through real estate can also be identified as a con. Con schemes or con artists can be found in any industry not only in real estate therefore this term is commonly used in many other markets.

As an example, a con or a scam in real estate can be a fake rental listing. The con artistic or the scammer takes a legitimate properties information and acts as landlords or real estate agents, asking for an upfront down payment or security deposit. 

Also, cons come in the form of homeowners or landlords that pretend to be out of the country and they are unable to show the property before you sign the lease or contract with the promise that the keys will be mailed to you.

These are just a few of the real estate cons or scams that occur and some of them can lead to monetary losses or unauthorized use of personal information that could lead to bank frauds, opened mortgages, leases, or loans.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Tax credit aimed at encouraging the conservation of natural resources, as well as the development of alternative resource. ...

Alias is a different name by which a person is known.In the real estate world, there are times when an agent goes by a different name than the one he/she was originally named by his/her ...

Properties that about and actually touch and share a common border. Properties B and C are contiguous. Property A is adjacent to properties B and C, but it is not contiguous. ...

Sewer system built into the streets of a neighborhood that is capable of accommodating the excess water flow of a heavy storm without backing up or flooding. ...

An increase in land occurring from the withdrawal of a body of water. Normally, when reliction occurs, the increase in land area belongs to the individual having water rights in the area. ...

Property taken over by the government because the owner has failed to pay taxes on it. The property may revert back to the owner when the taxes are paid. If not, the government may sell the ...

Beams providing structural floor support. Flooring is directly attached to the floor joists. See also joist. ...

Measure of central tendency that is a measure of the center of the data; also called an average. Mean and standard deviation are the two most widely used statistical measures that summarize ...

The handling of an account, as a mortgage serviced by a mortgage banker. The periodic, routine maintenance of household items. ...

Popular Real Estate Questions