The 150 members of the group represent software, proptech, search provider, estate agency and conveyancing sectors.
The framework has a free to use open-source repository of JavaScript Object Notation (JSON) schemas, which is a text format for sharing and sending data, where key elements of an upfront information pack for customers and estate agents can be stored.
This includes the buy and seller property information pack (BASPI), which contains information for property listings as outlined by National Trading Standards, early search flag indicators.
This can be shared with the seller’s conveyancer and other transaction participants such as potential buyers and mortgage lenders.
The BASPI and other information components have been developed by the HBSG to be a “single source of truth” covering all the information needed about a property when it is listed for sales.
The HBSG said that it would “empower customer transparency, user confidence, informed decision making and reduce the current uncertainty, risks and stress experienced by customers and industry participants”.
It added that the framework would ensure data is accessible, interoperable, and reusable and that the provenance of the data could be trusted.
HBSG said that contributing firms were entering a beta phase with real customers on live transactions. Participants include customer-facing property data collection, estate agent branches, estate agent software, property search and reports, conveyancing firms, conveyancing software, and technology firms.
Future phases will include mortgage intermediaries, mortgage lenders and valuation instructions.
HBSG said that it would welcome further contributions to the framework from proptech developer community, and industry firms or software provider who are working with digital upfront information. Information on how to register can be found here.
‘A milestone in moving from documents to data’
Maria Harris (pictured), HBSG’s chair, said: “I’m delighted that we’re now able to share the framework and schemas with the rest of the industry.
“With huge thanks to all the participating firms who’ve collaborated, volunteered, and given so much time and hard work to get the standards to a point where we can now implement them into frontline systems and make these services available on live property transactions.”
She added: “The development of the Property Data Trust Framework is a significant milestone in the much-needed move of the industry from documents to data. Through digitisation of the upfront property data, connecting our systems using a common set of API standards, and redesigning the end-to-end journey, we’ve seen a real breakthrough in improving the customer and user experience.
“Industry adoption will be one of our biggest challenges, so I’d encourage anyone not already involved in our group to get in touch or speak to their software provider about what this means for them.”
