The digital age has created an abundance of information. As a result, consumers can access details about businesses and their products at the touch of a button. With this ease of access to information comes trust and transparency concerns for businesses and services providers.
As a real estate agent or broker operating as such through an LLC or another type of business entity, you need to ensure that your practice is compliant with all regulations. This will protect you from potential liability should someone file a complaint against you or your company.
As we dive deeper into the world of cyber security, protecting your personal information becomes increasingly important both personally and professionally as an agent or broker operating as such.
This is because the information you collect from clients during the buying and selling process is sensitive. Such information includes the identity of the client, their financial details, and more.
What information you collect from clients?
How you store and use such information?
When and why you might share such information with third parties?
How your clients can access and update their information?
How your clients can complain and dispute resolution?
This legislation was implemented in 2018 and states that you must inform clients how you collect, store, and use their data.