Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

AGENTS TURN TO TECH TO FIGHT BACK AGAINST SCAMMERS

By Realtair
16 May 2022 | 1 minute read

Promoted by Realtair.

An increasing number of buyers are losing their hard-saved property deposits to scammers. But proactive real estate agents are fighting back with tech to protect consumers, according to end-to-end digital platform provider Realtair.

Data from the ACCC’s ScamWatch shows that Australians have lost over $161 million to scammers so far in 2022. False billing and identity theft – of which property transactions are a major target – are the third and fourth most common types of scams respectively.

With consumers increasingly worried about security when buying a property, the biggest purchase most will ever make, taking steps to protect their customers means agents can enhance their service offering and build trust in the process, says Realtair CEO and Founder, and President of the Real Estate Institute of NSW, Peter Matthews.

“The volume and size of the monetary transfers involved makes real estate transactions a key target for scammers. Hacked emails and stolen deposits are giving consumers a justifiable headache. But agents are fighting back,” says Mr Matthews.

“One way agents can disempower fraudsters is to take transactions off their favourite channels, like emails and phones, and instead use encrypted digital platforms that still enable consumers to do everything they expect to be able to do in an online environment.

“Not only are such platforms far more secure and infinitely less vulnerable to impersonation than emails or SMS, as happens with false billing scams, they also offer buyers the ease and convenience of being able to make payments anytime, anywhere.

“Technology which both supports and enables the entire agent process, from prospecting to settlement, can bridge the trust gap by ensuring security, transparency, compliance, accountability and protection for consumers. And the best tech solutions mean agents remain in the driving seat in managing consumer relationships. It’s about eliminating the potential for human error while maximising the human experience agents provide,” he says.

The Realtair end-to-end platform enables agents to monitor all accounts, transactions, and deals, both outstanding and complete, with all buyer information including offers and registrations securely stored on the platform.

Safety measures are built into the system, including two-factor authentication codes and the encryption of banking details. Vendors – not agents – are responsible for inputting bank details, which are securely relayed through the platform to the agent’s trust account team for payment.

Andrew Jensen of The Agency was an early adopter of the Realtair platform, largely because of the elevated security in service he wanted to offer his customers.

“We recognised not only the need but the opportunity to integrate digital technology into our existing workflow and customer value proposition, which would enable us to provide an elevated offering to our customers in terms of convenience, efficiency and perhaps most importantly, security,” says Mr Jensen.

“A consumer security solution which prioritises the customer experience while empowering agents to deliver a better service, is more than just a competitive advantage – it’s a platform for cementing trust.” 

The regulator for the real estate industry in NSW, Fair Trading, has recognised the need too, with education around agents’ rights and responsibilities in providing a secure service to consumers forming part of the current year’s essential CPD requirements for agents.

“There’s broad recognition of the importance of providing consumers a robust and secure platform and agents leading the charge in making these solutions available to their customers are building trust in the process, which will help to elevate the industry as a whole,” says Realtair’s Mr Matthews.


Media enquiries:

Stephen Naylor, Wise McBaron

0432 656 193

This email address is being protected from spambots. You need JavaScript enabled to view it.

About Realtair

Established in Realtair is a leading end-to-end digital platform designed by real estate professionals. It enables agents to access data, appraise, list, and sell properties more efficiently and cost-effectively from any device. Realtair’s proptech platform automates and streamlines the steps from appraisal to settlement to equip agents with mobile, easy to use technology.

For more information about Realtair. Book a demo with us here 

AGENTS TURN TO TECH TO FIGHT BACK AGAINST SCAMMERS
Peter
lawyersweekly logo
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.