9 Ways to Keep Data Secure

Cybercrimes happen every day and they can devastate people's lives and livelihoods. With all the personal information real estate companies collect, a breach in security could cost a brokerage business and tarnish its reputation.

"Having the right tools to protect yourself and your clients is crucial in this war against hackers," says Denise Mainquist, founder of the information technology company ITPAC Consulting in Lincoln, Neb.

One of the first things brokers need to know, she says, is that hackers aren't random; they relentlessly search the online world to find their next victim. They look for the most vulnerable systems, and then they attack with phishing, malware, ransomware, and other scams.

"A real estate agency is a perfect example of an environment that is susceptible to hackers ... especially the high-end residential sales firms," says Brad Deflin, founder of Total Digital Security in Palm Beach, Fla.

Sometimes personal information related to transactions is sent or viewed on sales agents' personal (nonbrokerage) smartphones and computers. The information can be anything from banking and tax information to legal documents, itineraries, and leases.

Deflin says it's difficult to fully eliminate all risk of a cyber attack. However, it's possible to substantially reduce your risks without too much expense or change in user behavior.

Here are some ideas for what brokers can do now to protect themselves and their agents from being hacked.