Connect with us

Hi, what are you looking for?

The American Genius Real EstateThe American Genius Real Estate

Real Estate Technology

ClosingLock has protected $14B of real estate transactions – is your title company on board yet?

(REAL ESTATE TECHNOLOGY) Security is utmost for you and your data, so it’s even more important for your clients. ClosingLock protects you both with their security features.

closinglock features

As digital transactions become the norm, keeping you and your clients secure is becoming a necessity. Poor security leaves a lot at risk, including the personal information of you or your client, as well as potentially even bank information. We’ve talked about the need for security before, but the quick version is this: there are a lot of ways things can go wrong.

Sure, no business wants to be hacked, but when you’ve got home payments on the line, you’re easily at risk of losing hundreds of thousands of dollars with one mistake. And, as you might expect, when people are scammed out of hundreds of thousands of dollars, they are not happy.

They’re also more likely to sue. Go figure.

It started with title companies, but these days, brokers and agents are also at risk for being sued if their clients get scammed. Really, a security breach can put everybody involved in a bad position.

“Unfortunately, many in the industry continue to email out their wiring instructions. These are the emails that are then spoofed, causing clients to lose their life savings, and companies to go out of business,” explains Andy White, CEO and co-founder of ClosingLock.

The company ClosingLock wants to change this.

ClosingLock, formerly known as BuyerDocs, works to keep the digital aspects of real estate on lock down. Not only does ClosingLock provide much needed security boosts, like secure document transfers and three factor verification, it is also working to streamline the process entirely by consolidating everything on one platform. Plus, ClosingLock works to ensure everything is easy to use – after all, a security program that is confusing might keep things safe, but it’s also bound to make life harder for everyone involved.

According to ClosingLock, their products have been used across the United States, as well as in 42 international countries. The results have been pretty great: they’ve protected over $14 billion in real estate wire transfers alone.

“Each transaction that ClosingLock protects is one step closer to eliminating wire fraud from the industry,” says White.

If you aren’t doing something to ensure your clients and business are secure, you’re taking a major gamble with every big transaction. Consider investing, or urging your title company, to invest in a security program like ClosingLock to ensure everything continues running smoothly.

Brittany is a Staff Writer for The American Genius with a Master's in Media Studies under her belt. When she's not writing or analyzing the educational potential of video games, she's probably baking.

Advertisement

The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox.

Advertisement

KEEP READING!

Real Estate Technology

Relanote is a dynamic alternative to the age-old practice of taking notes.

Real Estate Marketing

Since America is a cultural melting pot, language can be a sizable barrier. One language that many people forget about is ASL.

Real Estate Technology

(TECHNOLOGY) Running a small business is a ton of work and you need all the help you can get. Here are 20 free tools...

Real Estate Big Data

Artificial intelligence is bringing a seismic shift to commercial real estate in everything from investing to sales to property management. Hold on!

The American Genius' real estate section is honest, up to the minute real estate industry news crafted for industry practitioners - we cut through the pay-to-play news fluff to bring you what's happening behind closed doors, what's meaningful to your practice, and what to expect in the future. We're your competitive advantage. The American Genius, LLC Copyright © 2005-2022