The property industry is stepping up efforts to win consumer support for greater sharing of digital property data, as part of wider efforts to speed up home sales and reduce delays.
Campaign to explain Smart Property Data
The Digital Property Market Steering Group (DPMSG) has launched a two-minute video explaining Smart Property Data and how the system could change the home-moving process. Smart Property Data aims to make it easier to share trusted information between sellers, buyers and property professionals. Supporters argue this could reduce duplication, paperwork and delays during transactions.
However, wider adoption will partly depend on consumers understanding the system and having confidence in how organisations handle their information. The new video avoids technical terminology, instead explaining how consumers could control the sharing of their property information. It draws a comparison with Open Banking, which consumers already use to authorise organisations to access and share financial information securely.
Industry urged to spread the message
The DPMSG wants estate agents, conveyancers and lenders to share the video, and is calling on other property businesses to support the campaign. The group hopes greater awareness will help consumers understand how Smart Property Data could work and what information organisations may share.
Stephen Ward, DPMSG member and director of strategy at the Council for Licensed Conveyancers, said: “Smart Property Data offers the opportunity to revolutionise home moving by making it easier for the right information to be shared securely between the organisations involved, while keeping the consumer firmly in control.
“This short video is about making that idea easy to understand. We want people to see that this isn’t about technology for technology’s sake – it is about taking away some of the unnecessary repetition and friction from moving home to make the process simpler, faster and give home movers more certainty.
“Importantly, consumers will remain in control, including being able to see who holds their information and why.”
He added: “We’re asking organisations across the industry to help us get the video in front of as many consumers as possible, so that more people understand the benefits of Smart Property Data and what it could mean for them.”
The campaign follows the government’s homebuying reform roadmap, which calls for greater digitisation, interoperability and sharing of trusted property data across transactions.
