Real Estate Security

Cybersecurity for Real Estate Companies

Wire fraud costs Canadian real estate transactions hundreds of thousands of dollars every year.

Sherlock Forensics provides cybersecurity services for real estate companies including wire fraud prevention, business email compromise (BEC) protection, document security assessments, client data protection and phishing awareness campaigns. Quick security audits start at $1,500 CAD. Phishing campaigns to test staff awareness start at $250 CAD per campaign.

Real estate transactions involve large wire transfers, sensitive personal documents and multiple parties communicating by email. Attackers exploit this by compromising email accounts, spoofing wire instructions and intercepting closing documents. A single successful business email compromise can redirect a buyer's entire down payment to a criminal account. We help real estate companies, brokerages, title companies and law firms protect their transactions and their clients.

Order a Quick Audit - $1,500 Phishing Campaigns - $250

Threat Landscape

How Real Estate Companies Get Targeted

01 - Wire

Wire Transfer Fraud

Business email compromise targeting real estate closings is one of the highest-value cyberattacks in any industry. Attackers monitor email threads between buyers, agents, lawyers and title companies, then send fraudulent wire instructions at the critical moment before closing. The buyer wires funds to the attacker's account instead of the legitimate trust account. Average losses in Canada exceed $100,000 per incident, and recovery rates are extremely low once funds leave the country.

02 - Email

Email Spoofing and Compromise

Attackers either compromise a legitimate email account through phishing or credential theft, or they spoof the sender address to impersonate a trusted party. Compromised accounts are more dangerous because the attacker can read existing email threads, understand the transaction timeline and craft perfectly timed fraudulent instructions. We assess your email security configuration including SPF, DKIM, DMARC, MFA implementation and mailbox access logging.

03 - Documents

Document Forgery and Exposure

Real estate transactions generate documents containing social insurance numbers, bank account details, income verification, mortgage pre-approvals and government identification. These documents are frequently stored in shared cloud drives, emailed as unencrypted attachments or left in CRM systems with weak access controls. We assess your document handling practices, storage security and access controls to prevent unauthorized access to client personal information.

04 - Data

Client Data Exposure

Real estate CRMs, MLS integrations and transaction management platforms store extensive client personal information. Weak passwords, missing MFA, overly permissive sharing settings and unsecured API integrations create paths to data exposure. A breach of client data triggers mandatory notification under PIPEDA and BC PIPA, damages your reputation and may result in regulatory action from your provincial real estate board.

Our Approach

How We Protect Real Estate Firms

Email Security Assessment

We audit your email infrastructure including authentication protocols (SPF, DKIM, DMARC), MFA implementation, mailbox delegation rules, forwarding rules, mobile device access and third-party app permissions. Many BEC attacks succeed because an attacker set up a forwarding rule months earlier and has been silently monitoring transaction emails ever since.

Phishing Awareness Campaigns

We run simulated phishing campaigns that mimic the exact tactics used in real estate BEC attacks, including fake wire instruction emails, spoofed lawyer communications and fraudulent document signing requests. Staff who click receive immediate training. Campaign reports show your organization's susceptibility rate and track improvement over time. Campaigns start at $250 CAD.

Wire Transfer Procedure Review

We review your wire transfer verification procedures and recommend controls to prevent fraudulent redirections. This includes phone verification protocols using independently sourced numbers, dual authorization requirements, callback procedures and client notification practices. Strong procedural controls are the most effective defence against wire fraud.

Client Data Protection

We assess how your firm handles client personal information across CRM systems, document management platforms, email, cloud storage and physical files. We identify data exposure risks and recommend practical controls that fit real estate workflows without slowing down transactions.

Compliance

Regulatory Obligations for Real Estate

Regulation Relevance
PIPEDA Mandatory breach notification when client personal information is compromised
BC PIPA Provincial privacy obligations for BC real estate firms handling client data
FINTRAC Real estate is a reporting entity under Canada's anti-money laundering regime
BCFSA / Provincial Boards Professional standards for client data handling and transaction security

From the Field

Real Estate Security in Practice

A Metro Vancouver real estate brokerage engaged us after a near-miss wire fraud incident where a buyer almost wired $180,000 to a fraudulent account. Our investigation revealed that an agent's email account had been compromised for three weeks through a phishing email disguised as a DocuSign notification. The attacker had set up a hidden inbox rule to forward all emails containing keywords like "wire," "closing" and "trust account" to an external address. We remediated the compromise, implemented MFA across the brokerage, configured email authentication protocols and deployed a phishing awareness campaign. In the first simulated campaign, 34% of staff clicked the phishing link. After three months of training, the click rate dropped to 8%.

Pricing

Real Estate Security Engagements

Quick Security Audit - $1,500 CAD
Focused review of email security, wire transfer procedures, client data handling and common real estate attack vectors. Includes actionable recommendations prioritized by risk. Delivered in 3-5 business days. Order online.
Phishing Campaign - $250 CAD
Simulated phishing campaign targeting your team with real estate-specific attack scenarios. Measures click rates, credential submission rates and reporting rates. Includes training for staff who click. Unlimited campaigns available at $3/user/month. Learn more.
Standard Penetration Test - $5,000 CAD
Full security assessment for larger brokerages including email infrastructure, CRM security, MLS integration review, document management platform testing, website security and compliance gap analysis. Order online.

Frequently Asked Questions

Real Estate Cybersecurity FAQs

How do real estate companies get hacked?
The most common attack is business email compromise through phishing. An attacker sends a convincing email that tricks an agent or administrator into entering their email credentials on a fake login page. Once inside the email account, the attacker monitors transaction emails and sends fraudulent wire instructions at the optimal moment. Other attack vectors include weak CRM passwords, unpatched software and unsecured document sharing.
What is wire fraud in real estate?
Wire fraud in real estate occurs when an attacker sends fraudulent wire transfer instructions to a buyer, typically by compromising or spoofing the email of a real estate agent, lawyer or title company. The buyer wires their down payment or closing funds to an account controlled by the attacker. These funds are usually moved offshore within hours, making recovery extremely difficult. Losses regularly exceed $100,000 per incident in the Canadian market.
How can I prevent business email compromise?
Enable multi-factor authentication on every email account. Configure SPF, DKIM and DMARC to prevent email spoofing. Establish a mandatory phone verification procedure for all wire instructions using independently sourced phone numbers. Train all staff to recognize phishing emails through regular simulated campaigns. Review email forwarding rules regularly for unauthorized entries. Never change wire instructions based solely on email communication.

Resources

Related Reading

Regulatory Sources

Related Services

Get Started

Protect your transactions and your clients.

Quick audits from $1,500 CAD. Phishing campaigns from $250 CAD.

Order Online

Secure Your Real Estate Business

Wire fraud is preventable. Let us assess your email security, train your team and protect your transactions before the next closing.

Call 604.229.1994
Phone
604.229.1994
Burnaby Office
Burnaby, BC, Canada
Coquitlam Office
Coquitlam, BC, Canada