Data Management

Question 1

Why is data management important?

Answer 1

Data is becoming increasingly more important in real estate for increasing efficiency, productivity and offering a higher level of service to clients.
So effectively managing, utilising and securing it is vital.

Question 2

How do you manage data?

Answer 2

• Collect - email
• Collate - job
• Label – job no., date etc.
• Store – Box
• Retrieve and share.

Question 3

How do you verify the data collected?

Answer 3

Data download from online sources can be unreliable - the unknown.
Normally its a matter of speaking with agents, downloading leases to verify.
Going onto the planning portal and verifying information that has been provided. eg floor areas

Question 4

Why do you verify data?

Answer 4

enhance the reliability of data
promote trust in the data you are presenting
improving the accuracy the of the data

Question 5

How can data be stored securely?

Answer 5

On a cloud based file management system - certain users have access to certain files
Rating system - only uses in the rating department have access.
Connect to the VPN - ensures a private connection to my firms servers through a virtual encrypted tunnel.
Password protected logins for DB’s.
Data storage back up site
Anti - Virus Software

Question 6

What is a VPN?

Answer 6

ensures a private connection to my firms servers through a virtual encrypted tunnel.
disguises your IP address
ensure security regarding external attacks.

Question 7

What is a Copyright?

Answer 7

Exclusive rights that are granted to a creator of any original work.
Can be licensed or assigned

Question 8

What is GDPR?

Answer 8

General Data Protection Regulation 2016.
The Data Protection Act 2018 which is the implementation of GDPR in the UK.

Its regarding data protection and the governing of personal and general data

Question 9

What is the aim of GDPR?

Answer 9

Create a single data protection regime for business in the EU and
Gives people stronger rights to be informed about how their personal information is used.

Question 10

What are the key requirements under GDPR?

Answer 10

• Obligation to conduct data protection impact assessments for high risk holding of data
• Gives individuals new rights to ask what personal data is held and whether is can be erased
• A data controller who is responsible and decides how and why personal data is processed
• Firms have to be “data accountable” prove to the ICO they are abiding to the regulations
• Data breaches have to be reported within 72 hours where there is a loss of personal data

Question 11

Who are the ICO?

Answer 11

Information Commissioner’s Office

Question 12

What are some of the fines under GDPR?

Answer 12

Fines up to 4% of global turnover of a company or 20 mill euros (whichever is greater)

Question 13

What are some of the principles of GDPR?

Answer 13

LAPD SAP

• Lawfully, fairly and transparency
• Accurate and kept up to date
• Purpose limitation - clear/record what your processing intentions are
• Data minimisation - Collected for specified/legitimate purposes only
• Storage limitation - do not keep personal data for longer than you need it.
• Accountability
• Protecting data securely

Question 14

What are some of the individual rights under GDPR?

Answer 14

Right to be:
Informed
Access
Rectification
Erasure
Restrict Processing 
Data Portability
Object
Automated decision making and profiling

Question 15

What is the concept of lawful processing of data?

Answer 15

You must have a valid lawful basis in order to process personal data
There are six available lawful bases for processing

Question 16

What are the six available lawful bases for processing under GDPR?

Answer 16

Consent
Contract
Legal Obligation 
Vital Interest - necessary to protect someone's life
Public Task
Legitimate interest

Question 17

What are two examples of how your firm is compliant with GDPR?

Answer 17

When conducting money laundering checks we collect personal data securely under the contract lawful process of information to carry out the checks.
Collect Name, address, passport
Loyalty schemes - Subscription service - gained consent when they signed up. Store personal email and name.

Question 18

What is the Freedom of Information Act 2000?

Answer 18

Gives individuals the right of access to information held by public bodies

Question 19

Is there a Professional Statement on Data management by RICS?

Answer 19

One is currently on consultation - RICS Data Handling and Prevention of Cybercrime.
Mandatory regulation which RICS regulated firms must apply. How surveyors store, manage and secure data

Question 20

What the latest with GDPR and the EU do we still have to follow it?

Answer 20

EU have not recognised the Data Protection Act 2018 so UK companies still need to refer to GDPR as we share data with the EU.

Question 21

Any high profile fines from GDPR?

Answer 21

BA was fined £20mill for GDPR breach of 400,000 users personal data.