Yes this does happen!

They could have all sorts of motives for doing this but ultimately- they waste everyone's time and resources.

Here is what our contacts in the industry tell us, about spotting fake vendors:

• Faux sellers will not promote the property very much, if at all.
• They will most probably price the property well above its’ market worth- this should be a dead give-away really.
• They will be very inflexible if they get any legitimate offers and/or, may not even respond
• Fake vendors are likely, to get way too emotional over the property and may respond irrationally, to genuine questions about the property and will be very quick to try to terminate any discussions  

• Stop handing your investment income to a property manager.
• Get it paid directly into your account by using RealRenta to Self-Manage your property. 
• www.realrenta.com.au
• Use RealRenta for Free for up to 2 months now