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Avoid Becoming a Victim of Cybercrime

Louisiana REALTORS • December 13, 2017

Cybercrime and cybersecurity is a growing concern for the real estate industry. Reports of wire fraud taking place in real estate transactions are being brought to light daily. Louisiana REALTORS® has compiled a new Cybersecurity resource with information and helpful things to protect your business and your clients from becoming a victim of cybercrime. 


Apart from digging a hole in your backyard, throwing your computer in, dousing it with gasoline, and lighting it on fire, there's no foolproof way to protect yourself from cybercrime, said National Association of REALTORS® Associate Counsel Jessica Edgerton. 

Since few if any brokers and agents would work without a computer or smartphone, industry pros need to address the threat head-on, Edgerton said, speaking at the Emerging Business Issues & Technology Forum at the REALTORS® Legislative Meetings in Washington, D.C. She offered warning signs and practical strategies for warding off cybercriminals. 


“Cybercrime is a global problem," Edgerton said, one that's becoming more prevalent and more urgent. According to Juniper Research, the annual cost of data breaches through cybercrime is expected to reach $2.1 trillion globally by 2019. And it’s not just government agencies or large multinational corporations that are targets. Smaller and midsized real estate companies—where transactions involve multiple players and large sums of money—are an ideal target for criminals, Edgerton said. Among small businesses victimized by a successful cybersecurity breach, she said, 60 percent go out of business within six months.


As a precaution, REALTORS® may want to consider having their clients sign a document advising them of the potential of wire fraud to ensure that all parties to the real estate transaction are aware of the possibility of this occurring to them. Louisiana REALTORS® was provided a copy of forms currently utilized by REALTORS® in Louisiana and other states and developed a sample form you may want to consider implementing in your practice. The form is general in nature and can be modified to fit your office’s practices and needs.


More information about securing data, wired fraud and some best practices to implement can be found on the Cybersecurity   page.

Consumer Guide Update: Preparing for Homeownership

By Louisiana REALTORS® • February 19, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on preparing for homeownership. This guide covers what prospective buyers should consider as they kick off the home purchase process, including the importance of credit scores, mortgage pre-approval, down payments, budgeting, and educational resources. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Preparing for Homeownership Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with potential clients to ensure they have the information they need to be successful in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property taxes.

Consumer Guide Update: Escrow and Earnest Money

By Louisiana REALTORS® • February 14, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on escrow. This guide covers what homebuyers should know about earnest money deposits, including the general terms and use cases in real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Flood Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover preparing prospective buyers for homeownership.

2026 LR Officer Elections, RVPs & NAR Director Applications

By Louisiana REALTORS® • February 12, 2025
The Louisiana REALTORS® Board of Directors will conduct several elections this Spring. Interested candidates that meet the qualification who are looking to serve at either the state association level or the national association level are encouraged to view the criteria and submit an application. An application that is not submitted on the appropriate form or not submitted pursuant to the instructions shall not be considered as submitted timely.
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