Sound Off: What can be done to protect a buyer’s or seller’s privacy during the
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Q: “What can be done to protect a buyer’s or seller’s privacy during the transaction process?”
A: Our 15-point process covers everything from secure portals and encrypted communications, to vetting the professionalism of escrow companies, loan agents and even couriers.
Other tools include buying property via an entity such as an LLC, and, upon request, removing photos from the multiple listing service (MLS) after a sale is closed.
Much of this boils down to common sense. For example, not using public wireless networks and picking up a phone to communicate sensitive information go a long way to safeguard our clients’ privacy. Discretion is critical in real estate sales, especially with the vulnerability our clients undertake when buying and selling homes.
As our industry becomes more digitized, especially with COVID-19 concerns, our clients are relying on us even more for protection and confidence at every step.
Mary Macpherson, Compass, 415-846-4685, [email protected].
A: It can be a very stressful time for our clients getting their homes ready for market, and to start the selling process. There are a few recommendations we make to help protect our clients privacy during the transaction period.
The first one is to clear out all personal items in preparation of the photo shoot, as well as for showing the home to potential buyers. Anyone with internet access will potentially be able to view photos of the property.
We also advise removing all prescription medication from medicine cabinets, and to remove most, if not all, family photos.
In the past, and most recently now, with the new COVID-19 protocols in place, only showing homes by appointment (no public open houses), and requiring letters of pre-approval from buyers that have been vetted by their agent, will assist in maintaining clients privacy.
Other tips for both buyers and sellers is not to relax on cybersecurity, by locking all devices when not in use, always using a secure, password protected Wi-Fi connection, and backing up all files and data regularly.
Kathleen Daly, Coldwell Banker, 415-519-6074, [email protected]; Lisa Lange, Coldwell Banker, 415-847-7770, [email protected].
A: During the course of a transaction, buyers and sellers share personal and financial…
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