Why APIs Matter in the Real Estate Industry

Posted by Casandra Properties on Friday, November 20th, 2020 at 9:41am.

An Application Programming Interface is a software tool. It acts as a middleman between an application and the data of another application to enable quick and easy information retrieval. In the world of programming, APIs make tasks much more speedy and agile. APIs are used in many different industries, and in the real estate industry, APIs really matter.

Real Estate APIs

How are APIs used by the real estate industry?

Without an Internet Data Exchange, real estate agents would not be able to access the Multiple Listing Service, which is a database of property listings for a local area. An API uses IDX technology to transfer property listing data from an MLS to a specific real estate website. Therefore, real estate agencies can easily integrate listings on their websites and display them publicly. Seeing as property listings change frequently, the link between the MLS and a real estate website enables listings to continually remain up-to-date.

Why are real estate APIs beneficial? 

In basic terms, APIs provide the processes and rules for retrieving data by packaging them into a single component. Rather than developers needing to code to a Multiple Listing Service database, they can code directly to the API in a uniform and efficient manner. With such rapid retrieval, APIs allow real estate agents to maintain the required limit of information on their web servers, which can help with reducing compliance and hosting expenses.

What are the different functionalities of real estate APIs?

Real estate agencies rely on APIs and data feeds to supplement their property listings with relevant information. But a real estate api has other functionalities, such as:

·   Mortgage data.

·   Rental estimates.

·   Property energy efficiency.

How do different real estate APIs differ? 

Numerous APIs for use in the real estate industry are available, and each one has its own specific features and functions. Here is a look at some of the most popular real estate APIs on the market.

Realtor API 

This API is a meta search engine that provides details for properties that are for sale or for rent. In addition to finding properties, the Realtor API can provide mortgage calculators, finance rates, and information on schools in the local area.

Commercial Real Estate Insights API 

For an API specific to commercial properties, the Commercial Real Estate Insights API is one of the best on the market. It provides business real estate addresses and other data such as the square footage of premises, the number of floors, and the distance to nearby sites of interest.

Walk Score API

The Walk Score API provides information on how walkable commuting options are from specific properties, allowing real estate agencies to enhance their websites or apps with relevant information for clients.

ATTOM Property API

The ATTOM Property API has data for more than 155 million properties in the US, so it is ideal for real estate websites and apps. Endpoints of the API include sales history, mortgage details, and sales trends.

Estated Data API

With over 20 billion data points on US properties, the Estated Data API is a popular choice for real estate agencies. You can query multiple datasets based on customized parameters, and the API has a single endpoint, which means you only need to have an address to access the multitude of property data.

 

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