How McGrath Estate Agents saves $100,000 annually in data protection costs

The real estate industry isn't typically known for early adoption of new technologies. However, McGrath Estate Agents, a company based in Sydney, challenged this norm nearly three decades ago by implementing innovative tools to support its agents and boost productivity. In recent years, as McGrath Real Estate expanded its reach across the continent, attracting more clients and partners, a new challenge emerged in the form of effectively managing and safeguarding vast amounts of data. 

In an exclusive interview with TechCircle, Darren Warner, Head of Technology at McGrath Estate Agents, details how the company restructured its data backup and security protocols and embraced responsible AI strategies to stay competitive in a saturated market.

"Two years ago, our team had around 75 staff members. Today, we've grown to 135 employees. In the past 18 months alone, we've onboarded approximately 60 new team members with plans for further expansion," Warner explained. Previously reliant on outdated on-premise systems, some aged 5 to 7 years, primarily situated in local offices, McGrath recognised the need for a substantial infrastructure overhaul.

Given the limitations of its legacy systems, a comprehensive revamp of its backup strategy was necessary, leading to the adoption of a robust cloud backup solution. Transitioning away from a previous provider tasked with securing its on-premises data, McGrath shifted 99% of its data to cloud-based platforms such as Microsoft 365 and Azure for improved protection.

The move to Veeam Data Cloud by U.S-based data backup provider, Veeam Software, offered a simpler, scalable solution aligning with its swift business growth trajectory. This transition enhanced data accessibility for agents operating from diverse locations, eliminating the dependency on VPN connections that often slowed network access. Now, McGrath's agents enjoy enhanced flexibility, accessing data seamlessly from any device, anywhere, without VPN constraints—a boon for field agents who predominantly work off-site.

With the shift to Veeam-Microsoft 365, McGrath revisited its backup strategy to suit the new cloud-centric environment. Leveraging prior experience with Veeam, Warner initiated discussions that culminated in a successful pilot and a swift migration of all user data to secure cloud backups.

Warner lauded Veeam for streamlining data protection responsibilities, citing the platform's user-friendliness, cost-effectiveness, and ability to facilitate accurate IT expense forecasting amid McGrath's ongoing expansion. Noteworthy cost savings, a 50% reduction in data protection expenses, equate to annual savings of $100,000 for backup and storage costs.

Moreover, Veeam's provision of service level immutability fortifies defence against ransomware attacks, a critical aspect as cybersecurity remains a focal point in McGrath's operations. Warner's endorsement of McGrath's digital transformation efforts as a 7 out of 10 underscores the company's commitment to continual improvement.

An innovative mobile app for agents has been introduced, consolidating various tools into a unified platform for seamless operations. Plans to integrate AI for enhanced customer engagement, ongoing rebranding efforts for personalised experiences, and a team ethos emphasizing transparency further underscore McGrath's progressive outlook.

With a heavy focus on research, McGrath differentiates itself in the real estate space through meticulous market analysis, McGrath prioritises client-centricity and forward-thinking insights. Warner underscores the estate's commitment to pioneering future-focused initiatives amidst the evolving real estate landscape.

Looking ahead, McGrath prioritises AI deployment and Kubernetes workloads, emphasising the need for responsible, transparent AI models to augment operational efficiencies. Warner stresses the importance of robust cybersecurity measures, particularly in an industry susceptible to cyber threats due to the sensitive nature of financial transactions involved – and this is where he believes Veaam’s data protection solution scores as it offers complete support for ransomware - from protection to response and recovery

The evolving cloud backup market, underscored by market research firm International Data Corporation (IDC)'s projections of continued growth in cloud backup solutions, highlights the industry's shift towards secure data storage practices in cloud environments. With investments surging in cloud infrastructure, Warner believes McGrath stands at the forefront of tech innovation, ensuring data security and operational resilience to its clients in an ever-evolving digital landscape.