4 Internet Security Tips All REALTORS® Should Know
LOUISIANA REALTORS • February 22, 2017
It’s no mystery that there are countless ways for people to access information on the internet. There are entire companies built on monitoring and protecting against identity theft, aisles of software at Best Buy to keep your computer protected, and a variety of businesses making a fortune on restoring lost data. Unfortunately one of the most vulnerable populations for security breaches and data compromises is REALTORS®.
With so much sensitive information on hand, not only theirs, but their clients’ as well, the target on any REALTOR®’s network and devices is a big one. However, with these four best practices for internet and information security, that target can shrink dramatically.
Configure Your Mobile Devices for Security and Keep Them Updated
Mobile is becoming a bigger player in every facet of life, and real estate is no different. Access to information, answers to questions, and a more interactive experience make mobile devices like smartphones and tablets an ideal tool. Leverage these simple security measures on your mobile devices:
- Use all available encryption features.
- Set Bluetooth to “hidden” (or disable).
- Limit the use of third-party apps not developed by reputable companies.
- Look at tools for virus protection, firewall implementation, lost device safety (remote tracking, wiping, and relocation).
Create Strong Passwords and Use Encryption
Creating a password that features letters, numbers, and punctuation, and is at least eight characters long is the best strategy. You should also change your password every 120-180 days (if not more often). Using password management software or opting for a platform to “remember” your password is not ideal. Should a device be lost, stolen or accessed, your passwords can easily be compromised.
For the information stored on your hard drive and server, encryption is a necessity. Encryption transforms information that anyone can read to an unreadable code that can only be translated with the right access and key. So even if someone did compromise your files, the information would be useless to them.
Install and Maintain Anti-Virus Software
Whether you use a Mac or a PC, the latest version of anti-virus software is a must. Protecting your computer and other devices from malware, worms, viruses, and Trojan Horses will limit the amount of exposure you have to potentially harmful files and schemes.
Be Aware of Phishing Attempts
One of the most common internet scams is phishing. This can occur in a number of ways, and while the above mentioned tactics and tools can prevent some of the avenues for which phishing is executed, this can still be a dangerous threat for REALTORS®. “Ghost” accounts, doctored email addresses, and seemingly innocent referrals are all tactics that phishers use. The most effective attempts are disguised to appear legitimate.
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- Email addresses with a familiar name
- Email addresses that seem to be from a reputable company
- Messages disguised as authentic business transactions
It is important to be diligent when you receive any correspondence like the ones mentioned above. Anyone asking for personal information or money on behalf of a company should raise a red flag. Cross reference any communication or email address from someone by researching their contact information, or reach out to them directly. Here are some other measures to prevent phishing attempts in your inbox:
- Check and monitor your email settings. A compromised account will often have an altered “forwarding” setting.
- Maintain and delete any unneeded emails. A regular purge of your inbox lowers the chances of something going unseen or unnoticed until it’s too late. Securely save any important emails.
- Avoid using an unsecured Wi-Fi connection.
- Avoid emailing sensitive information. Use a secure file sharing platform instead.
While technology makes business easier and more efficient, it also presents new challenges and threats. However with some due-diligence, and the right tools and practices in place you can keep your and your clients’ information safe and secure.
Homeownership Is on Louisiana's November Ballot
After months of gathering recipes from across our Louisiana REALTORS® family, the cookbook is ready! This 200+ page collection is filled with Louisiana flavor, REALTOR® heart and recipes contributed by our members. We launched sales of the cookbook at the Fall Governance Meetings. You can now purchase your copy for $30 directly from the printer and shipped to you! Additionally, we will have copies available at the RRF booth at NXT . After NXT, we will carry a limited stock at the LR office for you to purchase through the LR Merch Shop and pick-up from the office or at an LR event, as stock is available. Even better, $15 from every cookbook sold will be donated to the REALTORS® Relief Foundation (RRF) to help provide housing-related assistance to REALTORS® and their families following disasters. Pick up a copy for yourself, grab one as a gift and enjoy a taste of Louisiana while supporting a great cause!
A major change to residential appraisal reporting is approaching, but a recently announced temporary policy exception is creating some confusion about what happens on November 2. Here is what REALTORS® need to know. Beginning November 2, 2026, Fannie Mae and Freddie Mac will require the new Uniform Appraisal Dataset (UAD) 3.6 for new appraisal reports initially submitted to the Uniform Collateral Data Portal (UCDP), unless the lender has received a temporary policy exception. The November 2 implementation date has not been postponed. What is the UAD 3.6 Appraisal Report? UAD 3.6 replaces the familiar legacy appraisal forms (used for the last 25 years) with a new, more data-driven appraisal report that collects much more detailed property information. For REALTORS® and consumers, the transition could mean a more detailed property inspection, additional questions about the property and transaction, and potentially longer appraisal and review times as appraisers, lenders, appraisal management companies, and other industry participants adjust to the new system. What changed? Fannie Mae and Freddie Mac recently announced a temporary policy exception for eligible lenders that need additional time to complete their transition to UAD 3.6. Lenders receiving the exception may continue submitting appraisals using the current legacy UAD 2.6 format through May 19, 2027 . Beginning May 20, 2027 , new appraisal submissions to Fannie Mae and Freddie Mac must use UAD 3.6. What does this mean for REALTORS®? For several months, REALTORS® may encounter both the current appraisal format and the new UAD 3.6 appraisal report. The appraisal format is determined by the lender's assignment requirements. REALTORS® and consumers do not need to determine which format should be used. It is also important to understand that an appraiser completing a legacy-format appraisal during this period should not automatically be assumed to be unprepared for UAD 3.6. An appraiser who is fully UAD 3.6 ready may still be instructed by a lender to complete an assignment using the legacy format. How can REALTORS® help? Good communication and accurate property information will become even more important. REALTORS® can help the appraisal process by providing accurate and specific information concerning: Recent renovations and improvements Property features and amenities Sales concessions and financing terms Known property conditions or unique characteristics Relevant information about the transaction Buyers should also be encouraged to discuss appraisal requirements and anticipated timelines with their lender early in the transaction. What about FHA, VA and USDA? The November 2 requirement discussed above applies to Fannie Mae and Freddie Mac conventional lending. FHA, VA and USDA have their own appraisal policies and implementation schedules. Their transition to UAD 3.6 should not be assumed to follow the same November 2 timeline unless announced by the respective agency. The Bottom Line November 2 remains an important date for UAD 3.6. The temporary exception does not cancel or postpone the transition. Instead, it allows eligible lenders additional time to complete their transition. As a result, REALTORS® should expect a period when both legacy and UAD 3.6 appraisal reports are being used. Louisiana REALTORS® will continue monitoring the transition and providing members with updates as additional guidance becomes available. Louisiana REALTORS® is also planning a follow-up webinar to discuss the latest UAD 3.6 developments, what REALTORS® are seeing in transactions, and what these changes mean for agents and their clients.
