With an array of real estate software to pick from, products that work together give agents an advantage.
Five short years ago, real estate software was sold as stand-alone products, CampaignAgent co-founder Seth Watts told REB.
“There were occasionally XML feeds from a CRM to a supplier and a portal, but software was judged on its own merits,” he said.
That independent set-up does not cut it anymore in 2020, as there is a rapid pace of integration between platforms.
Mr Watts gave the example of one of his Melbourne clients who presents its listing proposals on Pitch from Realtair.
“Realtair pulls its information from an API driven by Box & Dice and CampaignTrack. The authority/sales agreement is then presented for signing using Real Time Agent by Domain. RTA pulls a data feed from Box & Dice for vendor data, CampaignTrack for marketing and CampaignAgent for finance,” he said.
With the integration, the authority can sign for all contracts on glass to activate the platforms, finance, contracts and all in real time.
“By the time the agent gets back to the office, the campaign is underway, paid for and marketing bookings to suppliers are already in motion.”
The integrations between software mean agents have to do more than choosing good software to run a real estate business.
“It’s now about choosing a good ecosystem of suppliers who collaborate using APIs. Making a decision with one supplier, who may be good individually, can lock you into an ecosystem that may not be best in class,” Mr Watts said.
Agencies who do not move towards integrated systems will add between two and six hours of extra work to each file. And as a result, they will increase the likelihood that errors are made.
With increased scrutiny from consumer groups, errors only increase risk, Mr Watts said.
“We are firmly of the belief 2020 will be a pivotal year for listing and administration efficiency for real estate businesses,” he said.
“The upside that can be gained from rolling out integrated software has almost immediate payback and has low cost and high impact.”