In a post I published yesterday, I talked about a company called Trusted Mail – a secured email system that uses facial recognition instead of a password. It fits right into what I’ve been hearing in the hallways here at the Wardman because, and you know that the hall talk is just as important as what’s going on in the committee meetings.
Hall talk has been focused on a few things like the Hill visits, flood insurance, appraisal issues, and – one of my hot button issues – wire fraud. While we’ve been in DC, news broke that one of the trusted e-signature services that many of us use, Docusign, had been hacked. (That made me scratch my head, but I digress). Our clients are getting ripped off left and right, and yet we continue on as though nothing is wrong. Back home in Tucson, I had an escrow company friend of mine tell me that they get complaints from agents who don’t like having to log into the secure system because “it takes too long”.
As I’ve heard the hall talk, I’ve butted in (as I usually do) and ask what is being done in different states and cities to fight this. Many are using services like Trusted Mail or Proton Mail. Many have created wire fraud disclosures for buyers and sellers to sign, and some associations are releasing YouTube videos (Arizona is one of those states). Some local associations are making it a point to sit down with lenders and title/escrow to open the discussion on utilizing their secured systems for communication in all transactions. One mortgage company has a system set up where the agent and the borrower log into their system to send needed documents. I like that.
It’s a conversation that I’ll continue to have this week with other REALTORS® across the country because it is that important. If you see me in the hallway, stop me and let me know what you are doing to help your clients remain protected, or post a comment here. I’d love to know.