3 Ways Technology Can Work Against You in Real Estate

Technology really has made real estate transactions efficient in so many ways. Like enabling me to work with buyers all over the world or promote listings to a much broader audience more quickly. With all the advantages come a few issues though. Here are three in particular that you should know about.

1. Cameras in houses. It is actually illegal – a felony offense - to record video or audio of buyers (or anyone for that matter) while they are touring your house. Of course you want to know what they are saying, but you’ll have to depend on your Realtor and the buyer’s agent for that information. Don’t think that the “one party rule” protects you in this case. Though Texas law allows you to record audio of your own conversation without the consent of the person you are speaking to, this does not apply when you are not present in the conversation…even if it is in your home. Silent video is allowed in common areas of the home like a foyer, garage, or living room, but never private areas like bathrooms. If you have security cameras in your home, let your Realtor know so that it can be disclosed in the listing.
2. Social media. Buying or selling your home is a big event that can be fun to document and there are so many Instagram-able moments as you tour beautiful homes. It’s fun to share. But remember this is a business transaction with terms to be negotiated. If you share too much on social media it could get back to the sellers or buyers. This could mean your negotiation ability is compromised because they know how you feel about the property. Be careful about what (and when) you share in the small world of social media.
3. Wire fraud. It’s real. It happens every day. Both title companies and Realtors are well aware of the issue and are vigilant in educating their clients about how to protect themselves. It’s such a big deal that we now have a promulgated form that explains it. I always share this with my clients early in the transaction. When it comes time to close, the title company will need to know wiring instructions. Never, never ever email or text wiring instructions to the title company or your Realtor. There have been instances where cyber criminals pose as these parties in order to steal your information and your money. If you get a suspicious email or text, it’s usually good to call your Realtor first to let them know.

If you have questions about any of these items, I’m here to help. For the most part, technology is a huge asset in real estate transactions. Executing documents is more convenient and done more quickly. There is less paper, and maybe most exciting, there are more pretty house pictures for you to scroll through on HAR.com in your free time!