Digital Marketplace Is a Virtual Goldmine for Cyber-criminals 

REALTORS® USE TECHNOLOGY in many ways, and in today’s dynamic and increasingly online environment, cyber security has become a top priority. Agents are learning from best practices of the military, government and financial institutions to keep information safe and secure.

A wide range of confidential data is stored on computers and transmitted and accessible to other computers across different networks, all of which are being counted on to follow the same protocols of digital hygiene. But what can agents and their clients do to ensure those protocols are followed and to shore up any gaps to keep their information safe?

Realtors® are small business owners who process a multitude of sensitive financial information. Cyber criminals have targeted the real estate, lending and title industries precisely because of the large amounts of money and the many individuals who participate in the process.

One of the most prevalent online cyber scams involves escrow wire fraud. It can be as simple as a criminal sending a message with an address that at first glance looks to be from an agent, lender or title processor but is really a decoy (ex: agentjane@realtor.com becomes agentjane@realtor.net) meant to trick the receiver into sending financial or secured information. Copy-cat rental listings, where valid listings are “scraped and hi-jacked” from online real estate sites (such as Zillow or a brokerage’s own website) and reposted on Craigslist or local community boards, dupe renters and unsuspecting agents into exchanging funds with “out-of-town” landlords who prefer to do everything online. Locally and nationally, many agents have reported receiving texts or emails allegedly from their brokers asking them for assistance in buying gift cards as client gifts, only to find out that these very personal and seemingly authentic messages from a colleague were really a criminal impersonation.

Having a conversation with clients about cyber security best practices at the very beginning of the relationship and throughout the transaction process can do a lot to keep these fraudulent practices at bay, as well as reinforce the benefit of having an educated, professional and ethical Realtor® looking out for the client’s best interests.

Online marketing is key to building a strong personal brand, but photos, videos and other personal information shared on social media can be inappropriately used by others for data harvesting. It can also lead to fake identities, spoofing and phishing scams, financial theft and even life-threatening incidents from stalkers and other criminals. To protect yourself and those close to you, it’s recommended to have a business page that is separate from your personal social media posts.

Cyber-Security Resources National Association of Realtors® Cyber Security Checklist: NAR’s checklist offers some best practices to help agents curb the risk of cybercrime. Better Business Bureau: The BBB has many vetted resources and recommendations for individuals, businesses, and cyber-crime victims. National Cyber Security Alliance: The NCSA has created public/private partnerships to educate and empower users at home, work and school with the information they need to keep sensitive information safe and secure online and encourage a culture of cyber security. Their CyberSecure My Business™ is a national program helping small and medium sized businesses incorporate smart cyber practices to be safer and more secure online. StopThinkConnect.org: STOP. THINK. CONNECT.™ is the global online safety awareness campaign to help all digital citizens stay safer and more secure online, with the goal to help people understand not only the risks that come with using the internet, but also the importance of practicing safe online behavior.

While you can make your social media posts engaging and authentic, take care when sharing specific locations, names of family members or friends, personal details that can be used to guess passwords (like your pet’s name or your mom’s name, as “mother’s maiden name” is often a password clue), and location tracking. While these may seem like insignificant small details, there is technology that can gather this data into an online profile to be used for criminal purposes.

Busy Realtors® are rarely tied to an office desk, and tapping into wireless networks while out in the field is part of the mobile toolkit. Be aware that not all wireless networks are secure. Take care not to connect to unsecure networks as you may be revealing personal information and data that can be used to access apps in your phone without your knowledge. Speaking of apps, beware of downloading apps that are data-mining ventures in disguise. Always check the developers’ reviews to see what other users have reported. Understand that all apps request access to information about you and your device, so be sure to take the extra steps needed to read their privacy policies and delete apps that do not ensure your information is not sold to third parties.

Finally, while so many agents are working from home – and sometimes competing with a partner or children who are online at the same time – it’s important to ensure that the home network is as secure as possible. Check with your local internet and wireless provider to ensure both your cell phone and computers are up to date with the best cyber security maintenance. The internet is a powerful tool, but there are also risks. Take advantage of available resources to combat cyber security threats and create a safer online environment for you, your family and your clients.