Here's how you can safeguard client data when utilizing new technology in real estate.

In the fast moving sales world, MFA/password resets are being seen as an ‘inconvenience’ for day-to-day tasks, therefore it’s important that real estate staff understand A) the value of the sensitive data they’re dealing with, and B) how modern threats have evolved consequentially over the years.

Start by outlining data protection protocols and emphasizing the importance of confidentiality. Conduct regular training sessions covering secure handling of client information, including encryption methods, strong password policies, and recognizing phishing attempts. Implement access controls to limit data exposure and ensure staff understand their responsibilities in maintaining privacy standards. Regular audits and updates to security protocols help mitigate risks associated with technological advancements, fostering a culture of vigilance and trust among clients.

Implementing Virtual Private Networks (VPNs) and encrypted connections ensures data transmitted over networks remains protected from unauthorized access. Employing firewalls and intrusion detection systems adds layers of defense against cyber threats. Regularly updating network security measures and conducting vulnerability assessments help identify and address potential weaknesses promptly. Educating staff on the importance of using secure networks and adhering to best practices enhances overall data protection, instilling confidence in clients regarding the safety of their sensitive information.

Implementing strong encryption protocols ensures that sensitive information such as client details, financial records, and communications are scrambled into unreadable formats unless accessed with authorized keys. Utilizing industry-standard encryption algorithms like AES (Advanced Encryption Standard) with robust key management practices enhances data security significantly. Regularly updating encryption software and systems, along with training staff on encryption best practices, reinforces a culture of data protection. This proactive approach not only meets regulatory compliance but also builds trust with clients by demonstrating a commitment to safeguarding their confidential information against cyber threats.

Not only is it important to have permissions in place as a security layer for internal data leaks, it’s especially important in Real Estate given the nature of the industry. Staff often turnover, join competitors, take clients or databases belonging to the agency or company. Therefore with a hierarchy of permissions and access control measures, companies can ensure their future revenue from existing clients is insulated.

With the power of cloud based CRM’s, it’s easy to assume data is backed up and safe, however many Real Estate sales staff around the country still use archaic spreadsheets & documents, saved locally only. In 2024 it’s time to prevent disaster and back up your files and databases, and leave the old ways in the past!