Sales progression platform Mio has taken another step towards its promised ‘chain view’ revolution with a new API that enables conveyancers and other third parties to ‘plug in’ to its service.
An API is the tech that enables those involved in a house sale including conveyancers and estate agencies to talk to each other digitally and update each other on progress via ‘digital milestones’.
Mio’s API means for the first time the company can offer its 1,100 estate agency customers a full view of the chains including conveyancing updates, assuming all the companies involved use the service.
Agents and conveyancers see a full picture of what’s going on via their laptops while their customers get GDPR-compliant updates via Mio’s unique smartphone app.
“Until now it’s just been our agents inputting into the system and having visibility up and down the chains, but the API enables Mio to begin adding more data from the other third parties in the house sales process,” Emma Vigus (left), MD of Mio tells The Negotiator.
She says the residential property industry has been calling for a single view of the chain to improve transparency and efficiency, and reduce fall throughs and transaction times, for years. And the launch comes at a time when a growing number of chains are breaking due to a lack of mortgage product availability, employment uncertainty and slower transactions.
Peter Ambrose of leading conveyancing solicitors The Partnership, says: “We have always been very proactive about sharing the information we have with estate agents through our agent portal, but for too long we’ve felt like a ‘lone voice’ in the property market.
“We’re excited to be one of the first to have a shared view of sales progression activity across all of our chains, not only so estate agents have a better idea of what’s going on, but also so our conveyancers can benefit from increased visibility and a better understanding of where any hold ups are. Sharing this data is a mutual win for all involved.”