But first, let’s find out more about what APIs are…
What is an API?
Application Programming Interfaces (APIs) allow connections between nearly every system that powers modern business. From tax compliance to your CRM, APIs allow connections between integrations to help create online experiences that can expand with your business.
As businesses grow rapidly and consumer demand spikes alongside it, quick solutions that allow a seamless web experience that can evolve alongside the business needs to be established.
People in almost every industry utilise APIs to build sophisticated integrations that are easily extendable as the business evolves and, if these integrations are done correctly, they should adapt with the business growth.
But it isn’t as simple as plugging in an API or switching it on…
Rather, the API is actually more like an instruction manual or a blueprint - it gives you every detail you need to build the integration you want, but it doesn’t build it for you. Likewise, every integration is completely unique which means, depending on the products involved, they can take months to develop and implement. Of course, while these systems can take time to develop, the potential they can unlock is unmatched and they can transform any business.
Think of Slack or Teams, for example, without any integrations, both of these tools are simply communication platforms just like emails. However, the integrations they have make them more powerful. Slack can be integrated with productivity apps like Google Docs, departmental tools like Salesforce, and even social media tools like Twitter - and all of this is made possible because of an API.
Where do APIs sit in Estate Agency?
The reality is that the PropTech industry has been slow to adopt APIs and integrations.
While most smaller PropTech suppliers have been desperate to integrate with the CRMs, few of them actually have APIs and those that do are limited and expensive to use.
This isn’t necessarily the fault of the CRMs themselves. Most systems used in agencies today were designed and built long before APIs became a mainstream part of software development and retro-fitting APIs into a system not designed to accommodate them is both time-consuming and technically difficult. Once built, they also require the same support and maintenance as any other software. Therefore, developing and maintaining an API is incredibly expensive.
Most Estate and Letting agency software have opted not to develop an API, and those that have have made the decision to charge for their use.
The problem with this is that the PropTech ecosystem today is in dire need of API based integrations. While 10 years ago, agents primarily used a single piece of software, their CRM, today it’s not uncommon for agents to have a PropTech stack consisting of 10 or more separate products.
That’s what APIs can help with…
APIs allow the automated transfer of data from one system to another, allowing multiple systems to work together seamlessly without the need for double entry or manual intervention.
As PropTech has rapidly developed, suppliers are adding open APIs to their software to allow agents to design bespoke and sophisticated customer experiences. However, whilst some CRMs offer limited integrations, very few offer an open API which is the key for taking tech to the next level.
If you’re struggling to see how such tech would fit into your PropTech, we can take a look at Street.co.uk as an example. Street.co.uk is integrated with social media tools to allow agents to market properties via social media. This works by pulling details of properties from the CRM data and automatically creating posts for Facebook and Instagram with captions, images, and links.
Additionally, the Street.co.uk CRM is integrated with an API that helps with email marketing, allowing agents to schedule campaigns and create custom emails to be sent to specific customer lists with information pulled from Street.co.uk data.
But it isn’t just Estate Agency CRMs that offer open APIs; reporting and data, tools like Street Insights have APIs to help agents create a personal and seamless consumer experience for every online valuation. Software like Street Insights allows customers to see a full online report of their property while, seemingly, never leaving their agent’s site.
Are there any benefits for APIs in my software?
Agency tech offers solutions that should enhance agents’ daily tasks; APIs are beneficial because they assist the tech in growing and modernising alongside the agency.
It can’t be denied that face-to-face interactions are at the core of every successful agency but tech like this can help behind-the-scenes to offer clients an even better service, enhancing every interaction they have with your brand.
Similarly, using PropTech that has an open API will automatically future-proof your agency, so switching to tools that have APIs can help to safeguard your agency, rather than risking being stuck with an outdated tech stack. This is because, when a new piece of software you’d like to try becomes available, you can integrate it into your agency’s CRM through the API - making the possibilities for your agency endless.
Like I mentioned before, Street Insights’ API benefits users as it enables online valuations to be taken that extra step further. These valuations give homeowners and landlords an accurate online valuation alongside a comprehensive property report, adding further weight to the agent’s valuations..
Similarly, in the data tools with APIs, agents can create more customised customer journeys so it doesn’t appear like they’re switching between different platforms, but rather, remaining on the agency website, therefore giving a slicker customer experience.
Ultimately, APIs bring with them ease and flexibility that allow your tech to develop alongside your agency. But, alongside this, they enable a seamless experience for your customers, something they may not experience with other agents in your area, therefore giving you a competitive edge.
So, the next time you’re clicking through car insurance comparison sites, or are paying with something through Paypal consider the APIs that made it possible.
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Great explanation of the reality and importance of APIs. Modern software understands this now and is largely built around an architecture that facilitates an open API model with a variety of endpoints. We took this approach with The Depositary which, in just 3 years since launching, has seen us now integrate with 10 offerings to date- and many more to come.
However, it's great to see further context around APIs as they vary enormously. Our partner integrations have taken anything from 1 month to 8 to deliver depending on the scope, amount of touchpoints and technical nature.
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