Global Tech Outage: What Realtors Need to Know

The real estate industry, like many others, felt the ripple effects of today's widespread technology outage. Understanding how such disruptions can impact your business and client relationships is essential for any realtor.

What Happened?

A faulty software update from cybersecurity firm CrowdStrike caused a global technology meltdown, affecting Microsoft 365 services and numerous other platforms. This outage led to grounded flights, banking system failures, and disruptions across various industries worldwide.

Impact on Real Estate Operations

• Communication Breakdown: Microsoft 365 services were disrupted, causing difficulties in accessing emails, calendars, and collaborative tools like Teams. This likely led to missed appointments or delayed responses to client inquiries.
• Property Management Systems: Cloud-reliant property management software may have been inaccessible, complicating scheduling viewings or accessing property information.
• Digital Signatures and Contracts: Electronic signature platforms and document management systems might have faced interruptions, potentially delaying closings or contract signings.
• Virtual Tours and Online Listings: Websites hosting virtual property tours or online listings may have experienced downtime, limiting potential buyers' ability to view properties remotely.
• Financial Transactions: Banking outages may have delayed or complicated some real estate transactions.

Lessons for Realtors

• Backup Communication Plans: Always have alternative ways to contact clients, such as phone numbers or secondary email addresses.
• Offline Access to Critical Information: Keep important property details and client information accessible offline.
• Diversify Technology Providers: Use a mix of service providers to reduce the risk of a single point of failure.
• Regular Data Backups: Ensure all critical data is backed up regularly and stored securely.
• Client Education: Inform clients about potential technology risks and have contingency plans for critical deadlines.

Today’s outage underscores the importance of adaptability in our increasingly digital world. Being prepared and informed helps realtors navigate challenges and continue providing excellent service to their clients.

Join REIGNation

At REIGNation, we understand the importance of staying ahead in an ever-evolving digital landscape. Our mastermind groups and coaching services equip realtors with the knowledge and strategies needed to thrive, even in the face of unexpected disruptions. For just $30 per month, gain access to a community of forward-thinking professionals and expert guidance. Need more personalized support? Our one-on-one coaching clients receive four dedicated sessions each month for $800.

Become a REIGNmaker today and ensure your business is resilient, adaptable, and poised for success.