Most of us in the property and mortgage sector recognise the urgent need to digitise the property market.
For consumers and professionals alike, the experience of buying and selling a home remains fragmented, slow and frustrating.
But new systems, online forms, portals and platforms alone won’t make that transformation happen any quicker.
That’s because digitisation without trust, shared standards and interoperability only takes us so far. To unlock real transformation, we need trust frameworks.
DIGITAL ECO-SYSTEM
Much like a house needs a strong foundation, a trust framework is the bedrock of a digital eco-system. It is a shared rulebook that defines how data can be accessed, exchanged and relied upon.
In the context of smart property data, a trust framework sets out who can participate in a transaction, what data can be shared, how systems connect to one another, and under what governance, security and consent conditions this all happens.
We already see the power of trust frameworks in other sectors. Open Banking has enabled secure, consent-driven data sharing at scale, without consumers needing to repeatedly upload documents or expose sensitive information.
Property, by contrast, still relies heavily on paper-based systems, manual checks and duplicated data entry. This is not because the sector lacks innovation but because we lack a common, trusted foundation for data sharing – a gap that OPDA is committed to closing.
SMART PROPERTY DATA TRUST FRAMEWORK
Property transactions involve multiple parties, multiple data sources and multiple regulatory obligations. Estate agents, conveyancers, lenders, surveyors, search providers, local authorities and government bodies all play a role.
Each has its own systems, compliance models and ways of working, which leads to inefficiency, delay, cost and risk for everyone involved.
A Smart Property Data Trust Framework changes this dynamic. It puts the customer at the heart of the process, giving them transparency and control over how their data is used and shared.
It ensures that data is structured and authenticated and uses open standards and common identifiers, such as the Unique Property Reference Number, so systems can interoperate rather than compete in closed loops. Crucially, it defines roles and responsibilities, establishing accountability and clarity across the transaction.
CRITICAL ROLE
This is where the Digital Property Market Steering Group (DPMSG) plays a critical role. DPMSG brings together regulators, government bodies, trade associations and industry stakeholders to provide strategic direction for digital transformation of the property market.
DPMSG has consistently championed the importance of upfront information, shared data standards and trust frameworks as enablers of a faster, safer and more transparent homebuying process.
It has commissioned independent research, supported collaboration across the sector and works closely with the OPDA to move from theory to practical delivery.
SANDBOX PROJECT
A major milestone in this journey is the Smart Property Data Trust Framework sandbox project, funded through a £742,700 award from the Government’s Regulators’ Pioneer Fund.
This 12-month initiative, delivered in partnership with the Council for Licensed Conveyancers and supported by Raidiam, is about testing trust in practice.
It will create and validate the technical infrastructure, governance and security standards needed to support real-world data sharing across the property and mortgage ecosystem.
Importantly, this is not an abstract exercise. The sandbox will test how trusted property data can flow securely between accredited participants, how consent is managed, how provenance is maintained and how liability and governance are enforced.
The findings will be shared openly, helping the sector understand what works, what needs refinement and how adoption can be scaled.
CUSTOMER JOURNEYS
For property professionals, this matters now. Trust frameworks signal a shift from document-centric to data-centric ways of working.
They will influence how systems integrate, how compliance is demonstrated and how customer journeys are designed.
“Firms that engage early will be better placed to shape standards.”
Firms that engage early will be better placed to shape standards, de-risk change and improve efficiency, reducing fall-throughs, delays and rework.
My call to action is simple. Stay informed, get involved and start preparing.
Have these conversations with OPDA, DPMSG and your software providers. Review how data flows through your business today and where manual processes create friction. Consider how your systems, governance and policies will need to adapt to support customers in a smart data-driven future.
Trust frameworks are not a distant vision. They are being built now. The question for our industry is whether we choose to lead this change – or struggle to catch up later.
