116: Do We Finally Have the Technology to Stop Wire Fraud? w/ Chris Sauerzopf
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Real estate industry, we may finally have a solution to end wire fraud. Safewire) is a company using proprietary technology at the very beginning if a real estate transaction to completely eliminate any chance of wire fraud. This tech solution already exists, but it needs to be widely adopted by our industry in order to really make a difference. But first off, what is wire fraud, how does it work, and can it really be stopped? As you'll hear from Chris Sauerzopf, the CEO and co-founder of Safewire, wire fraud is a real problem, and yet no one is really talking about it. Sellers are getting their life savings stolen by hackers, and buyers are getting their down payments stolen. Lives are being ruined, and yet, real estate agents don't talk about it much. As if simply putting a wire fraud prevention message in your email signature is all it takes. As Realtors, we have a fundamental responsibility to do everything in our power to make sure that our clients' money is protected! Aside from responsibility, how long would real estate agents stay in business if we were the weak link that allowed seller proceeds to get stolen? Many times, it's actually the Realtor who allows the hackers to intercept a wire. And when that is discovered, and the media writes a story about how that nice old couple just lost their entire net worth to wire fraud... who the hell is every going to hire that Realtor again? Hell, that agent could even be personally sued for negligence, and end up bankrupt. Naturally, prevention via education and awareness is the place to start. Often, awareness and basic prevention is all a Realtor needs to do to prevent it from ever happening. But in order to stop wire fraud from ever happening, the real estate industry needs a solution like Safewire now provides.Email Chris Sauerzopf at [email protected] for info on how to get your brokerage to adopt Safewire's technology.Looking for the best real estate and mortgage podcasts? ** Find them all on the Industry Syndicate mobile app! **

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