The Home Buying Selling Group (HBSG) has announced it is forming an independent industry body, the Open Property Data Association (OPDA), for companies to develop the property industry through data collaboration.

The association aims to be a leading voice for open property data in the property industry by supporting the adoption of data and technology standards to create an efficient home moving process.

OPDA will continue to work closely with the HBSG to help resolve the industry’s data and technology challenges, as well as with Government departments who are committed to improving the home buying process.

Volunteer firms already using the scheme to create digital upfront property packs, instructing the conveyancer on day one, and sharing the data using our open standards have reported seeing results with up to a 70-day reduction in transaction times, 80% faster time for customer checks, and a huge drop in fall through rates.

The property industry has traditionally faced challenges related to data fragmentation and lack of interoperability. OPDA, however, has said it will address these challenges by driving adoption of common standards, promoting data sharing best practices, and driving innovation.

“The quality and volume of work that our volunteer group has delivered over the last two years has been nothing short of monumental, so I’m thrilled to be taking us onto the next stage of our evolution,” chair of OPDA, Maria Harris, commented.

“By harnessing the power of data and fostering collaboration, we have an incredible opportunity to drive innovation, improve decision-making, and create a more transparent and efficient property ecosystem.

“Formalising the group as a trade association gives us the structure and governance we need to drive further innovation and represent our members interests relating to open property and technology standards with policy makers, regulators, other trade bodies, and industry stakeholders.”

HBSG chair, Kate Faulkner, added: “The HBSG generates some fantastic collaboration and innovation from those in the home moving process who are determined and passionate to improve the home buying and selling process.

“The technology group has delivered exceptional work and now there is an agreed way forward, industry experts need to be able to fund progress to ensure their practical ideas can be implemented for buyers and sellers. The HBSG will continue to provide free participation to enable everyone that wishes to put forward and progress ways to solve the problems in the home buying and selling process.”

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