Cloud Disruptions Brew Storm in the Real Estate World
Key Points:
- A Dec. 20 cybersecurity incident caused cloud disruptions that have thrown the real estate market into slight chaos.
- The aftermath of the disruption continues to highlight the vulnerabilities in the dependence on technology for every facet of our lives, including home-buying.
- As a result of the incident, property closings have been delayed, as the company was forced to take some systems offline to control the damage.
- Unaccustomed to delays in the usually rapid property market, frustrated buyers have issued numerous complaints pointing towards a glaring issue – the company’s lack of effective communication.
- The debacle serves as a stark reminder to all businesses about the importance of a well-drawn plan for crisis communication. Not only can it stave off reputational damage, but it can also soothe tempers of clients caught in the crosshairs of a crisis.
Hot Take:
In the age of the Kardashians and TikTok, where everything is expected in ‘real’ time, the Dec. 20 cybersecurity debacle is more irritating than a fly at a picnic. Like that unexpected plot twist in your favorite Netflix show, this disruption has had real estate enthusiasts biting their nails, hanging on the edge of their seats. Oh, the horror of waiting!
Now, who would have thought that a company dealing in brick and mortar could go offline like some amateur blogger’s website? And then, their radio silence? It feels eerily like being ghosted after a first date. But little did they know, their lack of communication was more harrowing for clients than the disruption itself!
It’s funny (or not) how an invisible glitch can send the real world of real estate spiraling into apparent disarray. The incident, however, is not just a blip on the cloud but a reality check that modern businesses should take seriously. After all, no company wants to be ‘that guy’ who recklessly pushes the ‘it won’t happen to us’ narrative.
Sure, you can’t predict when a cyber bug might launch an assault, but in the wise words of everyone’s favorite octogenarian, Betty White, “You can’t help getting older, but you don’t have to get old.” The same notion applies to businesses too. Get technologically advanced, but don’t lose grip on the old school basics like effective communication.
So, dear companies, while you invest in advanced security systems to keep the cyber boogeyman at bay, don’t forget to also invest in effective communication strategies because as it turns out, clients would really appreciate knowing what the heck is going on.
Remember, the key to navigating through technological turmoil is to keep calm, communicate, and carry on!
Original article: https://www.inman.com/2023/12/26/title-insurer-first-american-and-many-subsidiaries-remain-offline/
