Data Management

Question 1

• What are the details of the Data Protection Act 2018?

Answer 1

• Sets out a framework for data protection law in the UK
• Was amended following Brexit
• Comprises 3 parts:
  o UK GDPR (general)
  o Law Enforcement Processing
  o Intelligence Services Processing

Question 2

• What are the details of the UK’s General Data Protection Regulations 2016 (GDPR)?

Answer 2

• EU’s GDPR no longer applies in UK
• Empowers individuals to have power over their personal data and its use

Some of rights under the UK GDPR:
1. Right to be informed
2. Access
3. Erasure

SW have Data Protection Policy applying to all information processed by the firm. Disciplinary methods in place for breaches of the policy.

Question 3

• What do you know about the Freedom of Information Act 2000?

Answer 3

• Right to access information held by public bodies
• Public body required to provide in 20 working days
• Can charge fee for information
• Right to deny if contrary to GDPR protection

Question 4

• How do you securely store files?

Answer 4

• Files secure for each department
• Password protected files sometimes
• Backup storage of files

Question 5

• How do you protect confidentiality and why is it important?

Answer 5

Confidentiality is important in relation to Data Protection and the Data Protection Act 2018.

We are required to keep client information securely protected from breaches.

Confidentiality relates more to not disclosing information, i.e. offers for properties, valuation figures etc.

Question 6

• How does data management relate to the RICS Rules of Conduct?

Answer 6

Responsibility to maintain integrity

Provide a diligent service

Act in the public interest

Question 7

• Why is data collection and management essential in your role?

Answer 7

At the centre of everything we do. Have a responsibility over data:

To store data securely - maintain data protection.

To analyse and process data

To gather data and present data

Question 8

• How do you validate data from Costar, Land Reg etc?

Answer 8

Data from Costar can be checked with Land Registry titles if available. A more accurate way of cross-checking data is to identify the agent involved and contact them directly to gain any clarity.

Question 9

• Can you give examples of quantitative and qualitative data?

Answer 9

Quantitative:
- Value – sales and lettings figures, lease terms, rent free periods
- BCIS – cost figures

Qualitative:
- Opinions on values
- Information gained from inspections
- Contact details of clients and customers

Question 10

• Why do SW have strict data management procedures?

Answer 10

Organisations are governed by UK law such as the Data Protection Act 2018 and UK GDPR.

Company’s must provide details that they are in line with GDPR and can be fined for data breaches.

Up to 4% of global turnover of company or £17.5M (whichever is greater).

Question 11

• What makes a secure password?

Answer 11

Something that doesn’t comprise words relating to yourself, has numbers and special figures and is regularly updated and not used multiple times.

Question 12

• How and why does the two-factor authentication work?

Answer 12

Two-factor authentication requires you to have the mobile phone and its login details of the person responsible for the account you are gaining access to. E.G. If your laptop is stolen, without your mobile phone and unlocked, can’t authenticate the laptop login making it more secure.

Question 13

• What do ransomware and phishing software do?

Answer 13

Ransomware and phishing software act almost as a firewall to prevent emails coming in that are designed to con people into submitting important information. When an illegitimate email reaches your inbox, you may be fooled into entering important details. This software limits the emails coming in and also allow you to dispose of such emails safely.

Question 14

• How were the comparables securely saved within the spreadsheet?

Answer 14

Use a template for all reports – separate tables for each valuation basis.

Includes address, description, date of sale and sale price, and comments (compare to subject)

Provide in date order

Store print screens of each comparable

Saved within secure and backed up filing system

Question 15

• What parties were shown the report?

Answer 15

As per the Terms of Engagement Disclosure Section and instruction letter, the report is only for the attention of the parties detailed here.

Question 16

• What is the protocol with third party access to reports?

Answer 16

Not for use by third parties and we accept no liability for the use of other parties without prior written approval.

Question 17

How is your firm protective of data?

Answer 17

• Protect data by secure storage
• Do not disclose the information of potential purchasers
• Blind copy clients into emails

Question 18

What is required if there is a data breach?

Answer 18

• Data breaches must be reported to the ICO within 72 hours when there is a risk of harm to individuals

Question 19

How do you record conversations with agents for your comparables?

Answer 19

• Make notes within the comparable on the saved spreadsheet