When you start your career as a real estate agent, your future depends on earning your clients’ trust. If you win their trust, you’re squarely on the path to success. Without that trust, a career simply won’t be possible.
Your clients will be handing over large sums of money during closing, and you’re partially responsible for making sure all those transactions are safely conducted. Everyone is relying on you as you put your newly-attained knowledge to work. Here are some key pointers that will ensure your clients’ trust in you is well-founded.
Real Estate Closing Transactions Are Vulnerable to Cybercrime
Wiring Money Between Banks Carries Risk
Paper Checks Don’t Offer Safety
Traditional real estate closings often include the sending of paper checks between parties to the transaction. Unfortunately, the tangibility of physical paper doesn’t make it a safe payment medium. Physical checks can be stolen, signatures can be imitated, and account numbers and personal information can be copied. In 2020, checks accounted for 66 percent of fraud activity.