Home Buying & Selling Group (HBSG) members have released the first public version of their property data and technology schemas.

Members of the group represent various sectors including software, proptech, search provider, estate agency, and conveyancing.

The Property Data Trust Framework has been developed by a working group to create the common language, data, and technology standards, which it says are needed by industry and property data custodians.

The framework includes an open-source repository of JSON schemas which cover the key elements of an upfront information pack for customers and estate agents.

These include Buyer and Seller Property Information (BASPI), material information for property listings and early search flag indicators.

This can then be shared with the seller’s conveyancer and other transaction participants such as potential buyers and mortgage lenders.

The BASPI and other upfront information components, developed by the upfront information working group of the HBSG, contain all the information required about a property when it is listed for sale.

The group says the technology standards generated when implementing the Property Data Trust Framework schemas have been created to ensure that property data is findable, accessible, interoperable, and reusable (FAIR).

The common data dictionary and application programming interface (API) specifications contained within the schemas also support the exchange of property data between software platforms and product or service providers. 

This comes following two successful proof of concept validation tests.

The contributing firms will now enter a beta phase with real customers on live transactions. 

The beta phase participants include customer-facing property data collection, estate agent branches, estate agent software, property search and reports, conveyancing firms, conveyancing software, and technology firms. 

Future phases will be extended to mortgage intermediaries, mortgage lenders, and valuation instructions. 

The group says it welcomes further contributions to the schemas from the proptech developer community and expressions of interest from any of the industry firms and software providers who are ready to start working with digital upfront information.

Home Buying & Selling Technology Group chair Maria Harris says: “I’m delighted that we’re now able to share the framework and schemas with the rest of the industry. With huge thanks to all the participating firms who’ve collaborated, volunteered, and given so much time and hard work to get the standards to a point where we can now implement them into frontline systems and make these services available on live property transactions.”