Estate agents have been warned to stop waiting for government intervention and start preparing for major changes to the homebuying process.
The Open Property Data Association (OPDA) says agents must rethink how they collect, verify and share property information.
The warning came during OPDA’s annual general meeting on Tuesday. Industry leaders discussed government plans to digitise property transactions.
Agents told not to wait for legislation
Maria Harris, chair of OPDA, said that businesses risk losing ground if they delay adapting their systems.
“Organisations cannot afford to sit back and wait for the standards to be mandatory if they want to retain their competitor advantage and customer confidence.”
For estate agents, the changes could mean gathering more information before marketing properties.
They may also need to improve how they share data with conveyancers and lenders.
The government has outlined plans to overhaul homebuying, with greater emphasis on upfront information, digital records and faster transactions.
However, questions remain over how the reforms will work and when individual requirements will become compulsory.
Smaller agencies face tougher challenge
Industry representatives acknowledged that smaller agencies and conveyancing firms could struggle to adapt.
Larger businesses may have more resources to invest in technology and overhaul existing processes.
Independent firms, meanwhile, could face greater financial and operational pressures.
Harris said the industry needs practical guidance rather than further discussion about digitisation.
“We need to make the changes and implementation tools tangible and easy to understand for businesses.”
Digital changes already taking shape
The panel highlighted growing use of electronic signatures, reusable digital identity checks and Open Finance data.
These tools could reduce duplication and improve information sharing between agents, lenders and conveyancers.
However, industry representatives acknowledged that firms still lack a clear picture of how the different reforms will fit together.
The discussion included Kate Faulkner, chair of the Home Buying and Selling Council, and Beth Rudolf of the Conveyancing Association.
Nick Boddington of HM Land Registry and Stephen Ward of the Council of Licensed Conveyancers also took part.
OPDA says it will continue working with government and industry bodies to develop common data standards.
Its message to estate agents is straightforward: start preparing now rather than wait for the government to force the issue.
