Under the terms of the new partnership, the two industry bodies are aiming to encourage the use of open data standards. They also want to improve how different software databases or platforms communicate or work together and support the delivery of more transparent, efficient and consumer-friendly property transactions.
Both organisations have been key advocates for innovation and reform within the sector. They plan to work together to identify areas where data-led solutions and consistent digital frameworks can reduce duplication, cut transaction times and strengthen consumer confidence in the process.
Maria Harris, chair of OPDA, said: “The SLC plays a crucial role in representing conveyancers at the heart of the home buying process and we’re delighted to be working together to help deliver a more digital and connected property market.
“Through this partnership, we’ll be able to align our efforts to make data more accessible and interoperable, reduce friction between stakeholders and ultimately make moving home simpler and more transparent for everyone involved.”
The SLC believes conveyancers should be “deeply” involved in the development of open property data standards.
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Simon Law, SLC chairperson, said: “OPDA has come a long way in a relatively short period of time, and the association will make a very important contribution to the government’s clear intent to streamline the home buying and selling process.
“SLC members’ firms are at the forefront of adoption of enabling technology and it makes eminently good sense for the society to contribute to ODPA’s work.”
Earlier this month, the OPDA was awarded a government grant of £742,700 through the Regulators’ Pioneer Fund to deliver the Smart Property Data Trust Framework and the model for digital transformation in the property market.
As part of the government’s commitment to improving the home buying and selling process, it has launched a consultation and a series of proposals that it claims could speed up transactions by around four weeks and save first-time buyers £710 on average.
