We have witnessed firsthand how technology has revolutionized how we conduct real estate transactions. While these advancements have made the buying and selling process more efficient, they’ve also created new opportunities for cybercriminals to exploit. Phishing scams have become a major threat, putting both Realtors and their clients at risk.
As real estate professionals, we hold the responsibility to safeguard our own information and ensure our clients are protected throughout the transaction process. Here are some practical steps real estate professionals and clients can take to avoid falling victim to phishing scams and other cyber threats.
Take precautions with unsolicited emails
Whether you’re an agent or a buyer, always be wary of emails that request personal or financial information. Phishing emails often include links or attachments that appear legitimate but are designed to steal your data. If something doesn’t look right, verify the sender’s identity by contacting them directly, and never use the contact information provided in the suspicious email.
Use strong passwords
Both Realtors and clients should be diligent about creating strong, unique passwords. A strong passphrase, like “RedMountainSky,” is far more secure than easily guessed passwords. Additionally, avoid using the same password for multiple accounts to limit vulnerability.
Enable two-factor authentication (2FA)
Make it a habit to enable two-factor authentication on any account that involves sensitive information. This extra layer of security ensures that even if someone gains access to your password, they won’t be able to get into your accounts without a second form of verification, like a text code.
Encrypt your communications
When sharing sensitive documents or personal information during a real estate transaction, it’s critical to use encrypted communications. As agents, we often deal with confidential information like financial details or personal identification, and encryption ensures that if data is intercepted, it cannot be accessed by unauthorized parties.
Stay informed
For my fellow Realtors, it’s essential to stay informed about the latest phishing tactics and to recognize them. The more aware we are, the less likely we are to fall victim to these scams. Make sure your clients are aware of potential threats, especially when it comes to handling sensitive information like wiring instructions.
Report suspicious activity immediately
If you or your client suspects an email is part of a phishing scam, don’t hesitate to report it. Whether it’s to your broker or office manager, reporting this incident as soon as possible can help stop these criminals in their tracks or prevent someone else from becoming a victim. The faster you act, the better your chances of recovering essential data and preventing further damage.
By staying informed and implementing these cybersecurity best practices, we can reduce the risk of falling victim to these scams. It’s not just about protecting our business, it’s also about protecting our clients’ financial well-being and securing their trust.
We are all in this together. #ThatsWhoWeR