Cybersecurity and Real Estate: You Need Protection Now

Good cyber hygiene keeps potential attacks from becoming successful security breaches. Cybercrime’s cost is projected to rise 15% per year for five years.

NEW YORK – Cybercrime increased across all industries and is projected to cost 15% each year for the next five years, reaching $10.5 trillion annually by 2025.

According to Tansey Soderstrom, president of the Orlando Regional Realtor Association, it’s essential for real estate businesses and clients to develop good cyber hygiene practices, such as not clicking on unknown attachments or links, not using public Wi-Fi and not using weak passwords.

Agents and brokers should create complex passwords that combine numbers, letters and symbols, and those passwords should be changed regularly for data security. They should even consider using a password manager and the “generate password” feature to ensure strong passwords.

Before submitting legal documents and proprietary information online, real estate professionals should double check that the URL isn’t associated with a bogus website. One way to determine that a website is fake? A misspelled URL.

Real estate professionals should also look for the padlock symbol on websites, indicating that site is secured by a TLS/SSL certificate that encrypts user data.

Some hackers send homebuyers a spoofed email that appears to come from a legitimate source with instructions for last-minute changes to the wiring instructions. As a result, agents should ask clients to confirm wiring instructions by phone.

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