Agents urged to help shape the future of the property market

Estate and letting agents are being urged to play a role in shaping the future of the property market as a major government-backed data initiative gets underway.

The call comes as work begins on the Smart Property Data Trust Framework sandbox, a project designed to lay the foundations for a more efficient, transparent and trusted housing market.

While the initiative has already attracted participants from across the wider property sector, organisers say more agents are needed to help ensure the system reflects the realities of day-to-day market activity.

Maria Harris, chair of the Open Property Data Association, one of the project’s lead partners, said: “Smart data will transform the property market, and the sandbox project is building the framework to make it happen. This is no longer a concept, it’s a live testing environment where real processes are put to the test, with findings shared openly across the sector.

“We’ve received a lot of interest from participants, but we need more property agents to get involved so we have a balanced representation from across the industry.

“Their expertise and knowledge is crucial so that we can build standards that meet their needs in the real world. Early adopters will gain speed, insight and competitiveness, staying ahead of a market that’s changing faster than ever.”

Funded by a £742,700 award from the Government’s Regulators’ Pioneer Fund, the 12-month project is being delivered by the Council for Licensed Conveyancers (CLC) in partnership with the Open Property Data Association (OPDA), with support from Raidiam, data from HM Land Registry and oversight from the Digital Property Market Steering Group (DPMSG).

To get involved in the project, firms should contact DPMSG@landregistry.gov.uk.

 

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