National Association Of Realtors Warns Brokers Of Email Hacking Scheme

Jan 27, 2017

Realtors can put procedures in place to protect themselves and their customers from wire scams.

January 26, 2017 /MarketersMedia/ —

For almost two years, the National Association of Realtors has been warning brokers of potential scams that target homebuyer down payments. The scams involve hackers using legitimate realtor email accounts to prompt homebuyers to wire down payments to offshore accounts, where the money becomes virtually irretrievable.

The scam in question works because the hackers bide their time, watching actual communications between agents and potential homebuyers. If emails indicate a purchase is forthcoming, the hackers swoop in with an email providing wire instructions to complete a down payment. With down payments as high as 30 percent and average home prices in the $230,000 range, hackers can get away with $70,000 or more on some transactions.

Brokers can combat this threat with strong security protocols and proactive communication. One security expert notes that the segmented nature of the real estate industry makes it difficult to implement comprehensive policies, making the industry attractive to cyber criminals. Brokers and agencies must take action to protect clients and themselves.

Using two-step authentication for email apps is a good way to reduce hacker access. Requiring agents to sign in with both a password and a code sent to a cell phone enhances security, says Jessica Egerton with the NAR. Agents should also avoid logging in to business accounts via public Wi-Fi; brokers who want to work on the go might consider personal Wi-Fi or hot spot plans for business use, as these offer more security than free Wi-Fi provided by coffee shops and libraries.

The NAR also encourages realtors to use communication to their advantage. Agencies might consider providing potential clients with information regarding cyber security threats so homebuyers are less likely to fall for wire scams. Realtors might also counsel homebuyers that payments should never be made based solely off of an email; homebuyers should call the agent on the number provided on the business card before making any wire transfers.

Cyber criminals are known for evolving quickly as businesses take action to secure accounts and data. Real estate professionals should take precautions to protect any digital entry point to company, personal or financial information. The same security tactics used to protect client down payments can be leveraged to protect all sale-related transfers, realtor payments and commission accounts. Commission Express works with realtors to ensure the safety of all of our payments. For more information, visit Commission Express's website www.commissionexpress.com.

Contact Info:
Name: Sarah Hess
Organization: Commission Express

Source URL: http://marketersmedia.com/national-association-of-realtors-warns-brokers-of-email-hacking-scheme/164826

For more information, please visit http://www.commissionexpress.com

Source: MarketersMedia

Release ID: 164826

More News

Singapore’s 3-Michelin-star neo-Nordic Restaurant Zen reopens with a local touch
Oct 13, 2026
Singapore’s 3-Michelin-star neo-Nordic Restaurant Zen reopens with a local touch

Singapore’s three-Michelin-star Restaurant Zen reopened in August 2026 after a three-month refurbishment – with a medley of changes that mark its new chapter. Founded in 2018 by Swedish chef Bjorn Frantzen, Zen inhabits a three-storey shophouse along the buzzing Bukit Pasoh Road in Chinatown. The renewed interior swaps the previous living-room setting on the ground floor for a 16-seat stone counter, in a look more reminiscent of Frantzen’s eponymous restaurant in Stockholm and FZN in Dubai. “I...

Airfares Have Spiked. Is the Death of Spirit Airlines to Blame?
Oct 13, 2026
Airfares Have Spiked. Is the Death of Spirit Airlines to Blame?

In the wake of the ultra-low-cost carrier’s closure, and with the cost of fuel and labor rising, domestic fares have become less competitive. But there are ways to parry higher prices.

Hobby Holiday In Fredericksburg, Texas
Oct 13, 2026
Hobby Holiday In Fredericksburg, Texas

In an age of doomscrolling, travellers are increasingly looking to make holidays more meaningful, trying experiences that bring them back to the things they genuinely enjoy.  From its great outdoors and stargazing to its thriving wine industry, Fredericksburg offers travellers the opportunity to put their passions into practice, with hands-on classes and expert-led experiences designed to help take hobbies to the next level or inspire new skills.

These 27 Things Are Great To Have On Hand If You Have A Toddler *And* A Car
Oct 13, 2026
These 27 Things Are Great To Have On Hand If You Have A Toddler *And* A Car

So you won't be cleaning out cracker crumbs until the end of time. View Entire Post ›

Style Edit: Rolex unveils the Perpetual Padellone with moonphase disc in 3 models
Oct 13, 2026
Style Edit: Rolex unveils the Perpetual Padellone with moonphase disc in 3 models

When it comes to crafting watches with a satisfying vintage aesthetic, Rolex has just about the most captivating archive imaginable to draw on. That archive is the inspiration for the continual evolution of the Perpetual collection, the latest iteration of which was launched in 2023. The first model in that collection was the 1908, a dressy, retro-styled wristwatch that drew on designs from the early 20th century. For 2026, the collection has taken a major step forward in terms of complexity,...

Style Edit: How Richard Mille and Ferrari fuse horological artistry with Formula One precision
Oct 13, 2026
Style Edit: How Richard Mille and Ferrari fuse horological artistry with Formula One precision

The fascination with Ferrari reaches well beyond what leaves the factory gates. It encompasses not only engineering and design, but also the culture of connoisseurship and collecting that has grown around the marque. Richard Mille speaks to much the same audience. Their partnership consequently reads not as an exercise in co-branding, but as the convergence of two distinct worlds connected by performance, craftsmanship and collectibility. When the two brands announced their multi-year...

"You Can Feel How Unwelcome You Are": 39 Cities People Recommend You Never, Ever, Ever Visit
Oct 13, 2026
"You Can Feel How Unwelcome You Are": 39 Cities People Recommend You Never, Ever, Ever Visit

"I want to run screaming out of there every time I have to visit my family that lives there. It’s claustrophobic, and I can’t wait to escape as soon as I arrive." View Entire Post ›

Meet Arthur Tang, founder of Artta Concept Studio
Oct 13, 2026
Meet Arthur Tang, founder of Artta Concept Studio

“Method acting” usually refers to the technique used by actors on stage or screen, but to Artta Concept Studio and its founder Arthur Tang, it’s the most accurate way to describe their interior design practice. Trusted partners of prominent Hong Kong developers like HKR International and Chinachem, the designers at Artta Concept Studio have been focused since the firm’s founding in 2010 on creating immersive environments for different target audiences of specific spaces, rather than following a...

How to stay in paradise: The world's best resorts revealed - including jungle hideaways, clifftop infinity pools and £3,200-a-night Greek villas
Oct 12, 2026
How to stay in paradise: The world's best resorts revealed - including jungle hideaways, clifftop infinity pools and £3,200-a-night Greek villas

From secluded beachside escapes and jungle hideaways to spectacular clifftop retreats and luxury lodges, these resorts promise stays like no other.

How Hong Kong’s post-war tattoo scene fused sailor art with Chinese imagery
Oct 12, 2026
How Hong Kong’s post-war tattoo scene fused sailor art with Chinese imagery

When Taiwan-based tattoo artist Jimmy Shy and street-film photographer Yu Chang decided to travel to Hong Kong to document the city’s fading post-war tattoo history, they agreed on one criterion: they would find their subjects only on the street. “We relied entirely on instinct,” Shy says of the project, which started in 2023 but began life as casual phone photos years earlier. “A lot of tattoos were hidden under clothing, so whenever we had a feeling that someone might have the kind of tattoo...

Take a Look Inside Leslie Jones’ Passport
Oct 12, 2026
Take a Look Inside Leslie Jones’ Passport

From Italy to Jamaica, comedian Leslie Jones shares her travel memories which includes surviving a crab invasion, a zip-lining nightmare, and high praise for the fruit in Lake Como. The post Take a Look Inside Leslie Jones’ Passport appeared first on Business Traveller.

38 Travel Items That’ll Make Your Fall Trips Feel Soooo Much Easier
Oct 12, 2026
38 Travel Items That’ll Make Your Fall Trips Feel Soooo Much Easier

Stop stressing over Thanksgiving travel and start getting excited about your grandma's homemade pumpkin pie instead. View Entire Post ›

YOUR NEWS, OUR NETWORK.

Do you have Great News you want to tell the world?

Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.

Life Ponds

Life Ponds publishes travel and lifestyle on a daily basis. We believe that Life Ponds will help to solve your problems every time you face a challenge.

Newsletter