If you’re like most internet users, you’ve been receiving an onslaught of privacy notification emails from companies like Facebook, Instagram, Twitter, and the like. The driving force behind this is GDPR, the E.U.’s new General Data Protection Regulation, which became enforceable on May 25th.
The reason U.S. companies are finding themselves rushing to comply with GDPR is because GDPR applies to all businesses who store and manage data on E.U. citizens. Companies must now adhere to much higher privacy standards when it comes to gathering, storing, and using consumer information.
Ultimately, this is good news for those concerned with privacy and security. But it’s exceptionally bad news for those companies who ignore the regulation. Fines can be staggeringly high.
You might not think GDPR applies to you or your brokerage, but if you gather leads and other data from E.U. citizens who may be looking to purchase U.S. properties, you may well be subject to GDPR.
Now is a good time to get the download on how GDPR applies to real estate agents and brokerages in the U.S. Check out this article, “How to Comply With New Data Security Rules”:
http://realtormag.realtor.org/daily-news/2018/04/25/how-comply-new-data-security-rules
Also, check out the infographic in this piece by Anita Clark for NAR’s YPN Lounge blog:
http://ypnlounge.blogs.realtor.org/2018/05/22/gdbr-and-what-it-means-to-you/
