Agents need to ensure full compliance with new data protection rules

Agents are being urged to prepare for the implementation, from next year, of new data protection legislation. The calls come amid fears that awareness of the incoming new law is low in the industry.

When it takes effect in May 2018, The General Data Protection Regulation (or GDPR for short) will replace the Data Protection Act 1998 and aims to protect individuals and organisations from data breaches and to give more power to the data subjects over the processing of their data. It will apply to any organisation that holds personal data, so it's a piece of legislation that will have a significant impact on estate and letting agents across the country.

The new data protection rules will try and make it much harder for hackers to exploit weak spots or vulnerability in data management, and will also attempt to limit any internal organisation abuse.

As an agent, you are likely to hold a significant amount of personal data and will need to take steps to ensure this data is adequately protected. Clients will need to give their full consent for their details being held, while your staff and any companies you outsource work to will also need to be fully compliant.

A failure to be compliant could lead to heavy fines or compensation claims made against you. Any company that isn't GDPR-ready by May 2018 faces a fine of up to 4% of global yearly turnover, or €20 million, whichever is greater.

To ensure full compliance there are a number of measures you can undertake, including obtaining appropriate consents, creating a personal data inventory and using privacy impact assessments.

The ValPal Network can also help. As you'll no longer be able to keep unnecessary data on file, you'll be looking for ways to engage with consumers on a regular basis and keep their details legally.

ValPal can help to provide a solution to this problem. The GDPR legislation dictates that companies must delete personal data once it is no longer being processed for whatever purpose the data was originally given. So by encouraging your contacts to use ValPal to obtain a new instant online valuation, you can re-engage your database. You’ll then have obtained the consent and a reason to actively contact and nurture these prospects that have used the ValPal tool.

As well as our instant online valuation tool, we also offer a whole range of other features, including a live web chat facility, free training webinars, our out-of-area leads system and expert marketing advice.

*Provided you have the correct T&Cs, Privacy Policy and consent options associated with the use of the ValPal tool and from originally collecting the data.