The Home Buying & Selling Technology Group (HBSG) has released an updated, second version of its Property Data Trust Framework.
Launched via its Technology Working Group, the updates were built on the original framework, incorporating learnings from live beta testing, with the aim to provide more comprehensive guidance for open property data sharing.
The Property Data Trust Framework is a set of principles and guidelines that enable property data sharing in an open and transparent manner.
It sets out the key requirements for data providers, data users, and trust entities to facilitate secure and seamless property data sharing.
The updated version incorporated the new and updated fields in version 4 of the buyer and seller property information (BASPI), changes to leasehold property enquiries (LPE) forms, new data fields for search results, as well as the addition of referencing to map digital upfront data directly to other formats such as transaction (TA) forms.
The changes were introduced to ensure that the framework remains current and relevant in a rapidly evolving digital landscape.
Maria Harris (pictured), chair of the Technology Group, said: “We are excited to release the updated version of the Property Data Trust Framework and JSON Schema which has been made possible through the amazing support and contributions from our volunteer group including Adoor, Coadjute, Moverly, Redbrick Solutions, TM Group, etc.
“We believe that these updates will help organisations navigate the complexities of open property data sharing and promote greater transparency and innovation in the property industry.”
Lubna Shuja, president of the Law Society of England and Wales, said: “We are committed to helping improve the home-buying experience for consumers and others involved in the conveyancing process. It needs to be less unpredictable to reduce time scales and to make it as stress-free as possible.
“There is no silver bullet. However, one way to improve the process is to provide consumers with information about the buying process and key information about a property at the very beginning of their search for a home. Part of the work to achieve this is already at an advanced stage, and this should help consumers understand what they are buying and lead to a reduction in sales falling through.”
Beth Rudolf, director of delivery at the Conveyancing Association (CA), added: “As coordinators of the content of the LPE1 and BASPI, along with the sector representative bodies in the home moving industry, we are delighted to see the Technology Working Group refine the schema to cover the datasets.
“This will enable the data to be digitally shared, reducing the duplication and wasted human time, especially when many sectors of the property market are seeking to deal with ongoing staff shortages.
“Digitalised property data, and the identification of the provenance of that data, is vital to improving the home moving process for the consumer but also for the estate agents, conveyancers, valuers and mortgage advisers engaged in it.”
Kieran Witt, Kotini CEO, concluded: “A trust-based and open property ecosystem, like the Property Data Trust Framework is creating, is one of the ways property transactions will become more efficient and less stressful for the end consumer.
“Version 2 is yet another step forward, and we’re proud to be supporting this innovation and its continual development.”
