On Not Fearing A Full Basket of Eggs, or Why You Should Use a Password Manager

If you’ve heard any of the members of CRT Labs talk about online security, you’re likely to have heard us urge you to use a password manager. And if you spend a normal amount of time online, you’ve also read about password manager breaches. The most recent high-profile attack hit LastPass earlier this year, and the attack helped spawn a lot of “are password managers really a good idea?” think pieces.

Let me be direct: yes, it’s a good idea to use a password manager. It’s a really, really, good idea, and using them is something I will continue to recommend to the REALTORS® with whom I speak.

The reason we recommend using them so strongly is because password managers solve the two most common reasons why accounts get compromised: weak and reused passwords.

WHAT’S A PASSWORD MANAGER?

A password manager is a piece of software that helps a user create, store, and use complex passwords. (There are hardware-based password managers, as well as some browser based ones, but we’ll just be talking about dedicated software managers in this post.) By “complex passwords” I mean a combination of letters, numbers, and special characters; length and unpredictability can also increase the complexity of a password.

Password managers help you create these complex passwords; the software I use allows me to create passwords up to 64 characters in length, with up to 10 numbers and 10 special characters. For example:

4+vMapXZoiD9kU2^kB[,yiuWv66dTDuPhNq#F7TFgh22d$vhWQ6^?h$waPMDY3?G

Do I use complex passwords like this for online banking and shopping? I do. Not all are this crazy, but there’s actually no reason why they shouldn’t be. They can be as complex as the above, because password managers don’t require you to remember the passwords of individual sites and services you access online; they only ask you to remember one master password that gives you access to the rest.

HERE’S WHERE FOLKS GET NERVOUS:

It’s at this point that most people start to get nervous, and they usually have both of the following concerns:

  • Are you crazy? You’re putting all of your password eggs into one basket!
  • I can’t remember a password that’s complicated enough to be my master password.

Let’s start with the all-your-eggs issue. I currently have one master password that protects 55 very complex passwords that are stored in my password manager. My master password is complex but memorable. Am I worried about someone cracking my master password and getting to my banking, investment, and shopping passwords? Not really, and here’s why:

  • My master password and password vault are shared with no one. Not even the company that provides my password management software has access to it. When you combine the strong encryption on your vault, a strong master password, as well as controlling where your information is stored – provides you multiple layers of security against any threats.
  • The encryption used by most password managers exists not only during transmission of data but also at rest.
  • My password manager encourages me to create very complex passwords because it can be done for me automatically when signing up for accounts at new websites.
  • I don’t even have to use the Internet to use my password manager. I can run it on a local network, storing all my information on my computer and other devices. None of my password information need ever go near the cloud.

This last issue — cloud vs. local storage — could be the key for you to start using a password manager if you’re afraid of hackers but see the benefit of randomly generated strong passwords. Make sure any password manager you think of using has the ability to store information away from the cloud and away from the provider’s servers.

CREATING A MASTER PASSWORD

It may seem a little daunting to come up with a complex but memorable password, but I’d like to suggest it’s not as difficult as it seems. Let’s take a look at a made-up complex password: !M2j3B*s*T*. How did I come up with this, and how would I remember it?

Let’s assume you think Michael Jordan is the best basketball player ever. You’re sure to know he wore the number 23. Introduce some special characters, start to think about the words as single letters or abbreviations, and you’ve got a memorable and very strong password.

STILL DON’T WANT TO USE A PASSWORD MANAGER? AT THE VERY LEAST, DO THIS:

Whether or not you wind up using a password manager, at the very least remember that variation (not using the same password on more than one site) and complexity (passwords with letters, numbers, and characters) are essential to protecting yourself online. It’s easier for me to use a password manager to handle that variation and complexity. If it’s not for you, devise your own system, but stick to those two password virtues. Somewhere down the line you’ll be happy you did.

LEARN MORE FROM THESE GREAT RESOURCES FROM NAR:

Check out Cybersecurity Checklist: Best Practices for Real Estate Professionals, part of nar.realtors’s coverage of data privacy and security.

These Three Commercial Real Estate Tech Companies Are All About Connections

This week on the CRT Labs blog, Jacob Knabb from NAR’s Commercial division writes about some much-needed advancements in commercial real estate technology.

For years the commercial real estate sector has been allergic to technological advances. Data-sharing and easy access to listing information made no sense in a business where proprietary information, in-house data, and brokers who are hush-hush about who might be in their rolodex were the norm. This reputation for lagging behind the field is fast becoming obsolete, however, as commercial real estate has proven ripe for disruption. Over the past few years tech startups have been breaking into this market, changing the status quo and capitalizing on weaknesses in protocol and needlessly opaque communications between investors, brokers, and client reps. It’s suddenly fun to follow the commercial real estate tech market.

Floating Through Space by Ryan Tang

Today I want to look at three of the more exciting, noteworthy commercial real estate tech companies that have come onto my radar recently: VTS, WeWork, and CommissionTrac. The common theme for each of these products is a dynamic ability to leverage technology to speed up traditionally time-consuming, costly processes and to facilitate connections.

Let’s start with VTS, a platform Forbes touted for its ability to enable “real estate professionals [to] track deals and manage space in real-time, and collaboratively.” VTS is made for property managers, brokers, and tenant reps. This is what makes it revolutionary: VTS centralizes property portfolios, making them accessible to all of the key players in real time. “High quality, visual, actionable data gold,” as Duke Long called it in NAR’s magazine Commercial Connections earlier this year. Leasing data is delivered in an intuitive, visually pleasing display. Even for massive portfolios or team members spread around the globe.

WeWork excels because it can “[b]uild, acquire, and manage assets with technology” by streamlining construction, acquisition, and asset management. I attended a panel discussion on technologies serving the built environment at DisruptCRE in Chicago this May that featured Megan Dodds, WeWork’s Midwest director of community. Dodds was able to convey WeWork’s focus on maximizing square footage by creating shared office scenarios that are proving to be quite appealing to millennials eager for community and companies hungry for space to house their untethered workforce. In other words: they create killer office environments that hum along at maximum occupancy, generating strong ROI for investors. WeWork will be exhibiting in the Commercial Marketplace at NAR’s REALTORS® Conference & Expo in Chicago and I can’t wait to learn more about them in November.

I’m going to end this with a bang by taking a quick jaunt into bookkeeping technology. Almost lost you there, didn’t I? Most commercial practitioners detest this part of the job for a reason. It’s complicated to do and expansive to pay to have done. Atlanta-based ComissionTrac is disrupting accounting by providing a platform able to handle invoicing, deposits, commission distributions, and general ledger reports. You send them copies of all the paperwork, or your Quickbooks files, and they do all the heavy-lifting. You can run reports on any device from any location with a signal. CommissionTrac is customizable for agents, ‘back office,’ and principals and the full-service package is $9.99 a head (aka: affordable).

Commercial real estate pros love monitoring trends and here the lines are fairly straightforward: technology will only continue to blossom and grow. Baby Boomers are aging out of the workforce and notions of proprietary data and technology are becoming increasingly obsolete. With IoT establishing a firm foothold in commercial real estate, the next round of breakthroughs are likely to address security solutions. But for the time being connectivity is the word of the hour, and just like with other industries, the commercial real estate industry will thrive as it keeps that connectivity at the forefront of its technological advances.

Jacob S. Knabb is Commercial Communications & Member Services Associate for the National Association of REALTORS®. He works frequently with CRT Labs, keeping us informed of the latest and greatest in commercial real estate technology trends.

Things Thursday #018: Detroit, Smart City! and how secure are your speakers and more

A picture of the Detroit skyline.

Detroit’s getting sensors provided by citizens. Read below about Sensors in a Shoebox.

  1. HomePod, Echo, Google Home: How secure are your speakers? (via C|NET)
    There are a lot of questions around security and smart devices like the speakers. In fact, the audience at my presentation at the South Bay Association of REALTORS this past Monday were very concerned around security of smart speakers. This nice quick piece on the security of your data from Apple, Google and Amazon’s voice automation speakers. It seems like Apple has the advantage based on their encryption best practices. Even though they cost around $349, the HomePods secure your data the same way that Apple’s Messages and Siri applications do. Check it out and see if your security questions are answered.
  2. Toyota is exploring heart rate monitoring cars to help prevent accidents (via Wareable)
    For me, these types of thoughts around smart technologies are very worthwhile. Nothing is imminent from Toyota, but they are exploring how to determine if a driver is incapacitated and what they can do to help them in case of emergency.
  3. Samsung challenges Google with Connect Home Wi-Fi mesh (via ReadWrite)
    Mesh networking is becoming a big market and it’s being driven by IoT. Samsung joins Google, eero and several other companies in trying to scratch this itch. Follow the link to see what they are up to.
  4. Detroit Imagines a Citizen-Led Smart City (via CityLab)
    This is the type of thing I love about smart city work. A community coming together to solve a problem. Detroit is a great innovation space due to its past economic downturn. The city is ripe for change and new ideas. Working with the University of Michigan, residents are deploying smart sensors. The project, called Sensors in a Shoebox, are providing a low-cost way for residents to understand their environment. Imagine if REALTORs could help deploy projects like this to improve quality of life. Pretty cool.

That’s all for Things Thursday this week. Have questions? Want us to cover something? Let us know. You can follow us on Twitter @crtlabs or Facebook