Real estate agents are prime targets for cybercrimes because they handle sensitive client information. A data breach can lead to costly downtime, diminish client trust, and tarnish your reputation. Additionally, it can make it more difficult and expensive to insure your business.

As the saying goes, “An ounce of prevention is worth a pound of cure.” Here’s what you can do to protect your agency, client information, and business-critical data from prying eyes.

Keep Your Systems and Software Up To Date

Install patches and upgrades as soon as they’re available to protect your network and devices from the latest threats. Staying on top of updates is particularly important when agents use multiple devices to access your network from anywhere. Any laptop, tablet, or smartphone used to handle company data can become an entry point for hackers to breach your systems.

Use Cloud-based Software

Legacy software and on-premise servers are difficult to protect. On the other hand, cloud software vendors take care of security updates, so you don’t have to worry about them. Agents can securely access sensitive files and client information from anywhere and on any device. You can also set up access control to ensure the right people see the right data.

Implement a Mobile Device Management (MDM) Solution

Ongoing monitoring can help identify suspicious activities (e.g., logins from a foreign country) immediately to mitigate risks. MDM software gives you a bird’s-eye view of all the devices connected to your network and manage their activities from a centralized dashboard. You can also remotely push software updates or wipe a device if it’s lost or stolen.

Enforce a Strong Password Policy

Employees should set unique and complex passwords for logging into your systems and never “recycle” the same credentials they use for personal accounts (e.g., social media, e-commerce sites.) You may also implement password management software (e.g., LastPass) to support single sign-on (SSO) and enable access to shared accounts if necessary.

Activate Two-factor Authentication (2FA)

Also called multi-factor authentication (MFA,) this security feature strengthens your defense by requiring users to verify their identities via a second method other than their username/password combo (e.g., a code sent via text to their cellphones.) Many cloud platforms already have this feature built-in, so all you need to do is activate it.

Provide Employee Cybersecurity Training

Human errors cause most security breaches, especially phishing and ransomware attacks that target individual employees. Provide ongoing security awareness training to your team to nurture a security-first mindset. Additionally, you can conduct phishing simulation tests to gauge employees’ awareness of phishing techniques and see if they react appropriately.

Address Security in Onboarding and Offboarding

All new hires should undergo comprehensive cybersecurity training. You should also set up role-based access control to ensure that each team member can only see the data they need to do their job. When an employee leaves your company, revoke their access to all your networks and applications so hackers can’t use their credentials to steal your data.

Perform Third-party Due Diligence

Vet all the vendors, contractors, and partners who have access to your network and client information, including IT service providers and companies you collaborate with (e.g., attorney’s office, title company.) Ensure they have the right technologies, systems, and processes to protect the data you share with them.

Implement a Backup and Recovery Plan

Regularly backing up your data can protect your agency from the high cost of data loss and downtime. Plus, you’ll be less susceptible to the impact of ransomware attacks. You should have multiple backup copies that allow you to quickly restore your infrastructure — with at least one offsite and one segregated from your network to cover all the bases.