Corcoran Group Investigates Email Breach With Agent Compensation

guest · Sep 17, 2019

After data breach, Corcoran attempts a lockdown. But agents are talking
September 17, 2019
https://therealdeal.com/2019/09/17/...n-attempts-a-lockdown-but-agents-are-talking/

It’s the holy grail of the residential brokerage world: an agent’s split, gross commission income and marketing budget.
And last Friday, one of New York’s biggest firms saw that privileged information leaked wholesale.

Less than two hours after emails with said information were sent to the Corcoran Group’s agents and staff, the firm shut down its email system while the IT department removed the leaked files from the firm’s server.
Over the weekend, CEO Pam Liebman personally contacted the heads of several rival firms, sources said, cautioning them against using the privileged (and allegedly stolen) data.

Corcoran is now investigating what it’s called a criminal incident with the help of law enforcement and a third-party forensic investigator retained by parent company Realogy Holdings.
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guest · Sep 21, 2019

“Perhaps a sad inevitability:” Corcoran isn’t the only firm under attack
Brokerage leaders are nervous
September 20, 2019
https://therealdeal.com/2019/09/20/...orcoran-isnt-the-only-brokerage-under-attack/

“Try to hack us. You’re only going to get 3 percent of the information,” joked Eddie Shapiro, Nest Seekers International’s CEO and president. He said his company’s data is stored in digital and hard copies in decentralized locations to make a wholesale breach improbable. “When it comes to the most sensitive information, I keep it locked in a safe.”

He’s not alone. At Douglas Elliman, shredders sit at the ready in some rooms to destroy the evidence of sensitive documents, an insider said.
But, despite the industry’s best efforts, it’s undeniable to industry sources and cybersecurity experts that real estate firms are under attack.

“[Hackers] essentially figured out the ecosystem,” he said, adding that his firm staffs a 24-hour hotline with 12 lawyers to field calls after companies experience cyberattacks.
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