The increase of wire fraud continues in the real estate industry. That’s why TrustFunds added a new security feature to combat phishing schemes. TrustFunds, a NorthstarMLS core service, is a convenient and secure way for your clients to deposit earnest money.
In your TrustFunds account, you can now upload a profile photo. Your clients will see your profile photo in every earnest money request email you send, giving them greater peace of mind that they are not participating in a phishing scam. The email also includes a photo of the property, the exact earnest money amount reflected on the purchase agreement and full agent contact information.
Uploading your agent profile photo to TrustFunds is easy. Click here to see how it’s done.
Want to do more to reduce the risk of real estate wire fraud in all aspects of your business? Our system security vendor, Clareity Security, has published an excellent paper that covers best practices, sample procedures, and communications gathered from franchises, brokers, title companies and others. Check it out!