Open Property Data Association (OPDA) has signed Memorandums of Understanding with the Legal Software Suppliers Association (LSSA) and Conveyancing Association in a move aimed at strengthening collaboration across the property sector.
The agreements set out shared commitments to advance digital transformation in the home buying and selling process with a focus on open data standards and improved interoperability between systems.
Under the MoUs, the organisations will work to promote more transparent, efficient and consumer-friendly transactions by encouraging regulated data sharing and common technical standards.
The LSSA represents UK developers and vendors of legal software systems, while the Conveyancing Association works on behalf of specialist conveyancers to improve the home-moving process. Both bodies have been involved in sector reform initiatives, including development of the Smart Property Data Trust Framework.
PROPERTY ECO-SYSTEM
Maria Harris (main picture), Chair of the OPDA, says: “The LSSA and Conveyancing Association represent vital parts of the property eco-system and are united in the belief that trusted, interoperable and open data sharing is the future of the housing market.
“As we continue to expand our membership, we’re creating a momentum for change in the property industry that will transform the way we buy and sell homes in the UK.”
Kevin Horlock, Chief Executive of the LSSA, adds: “The home-buying system is still designed around traditional thinking and outdated models, and we need to break down some of the cultural resistance to change with the legal sector.
“Firms that prepare their data, modernise their systems and embrace the expectations of today’s clients will take a lead in the market.
“The OPDA is creating the trust framework that will allow this to happen, through the sharing of open data, and we’re eager to support them deliver this change.”
REDUCING WASTE
Beth Rudolf, Director of Delivery at the Conveyancing Association, says: “At the heart of our mission is a drive to improve the home buying and selling process – to reduce delay, cut waste and place quality, reliable information at the start of the process.
“Working alongside the OPDA and its members we can help build the data trust framework to deliver a property market that is quicker, safer, and far less draining for both firms and their clients.”
OPDA says the agreements form part of its wider mission to bring together estate agency, conveyancing, surveying, lending and technology stakeholders to create an open and trusted framework for property data.
