Propertymark is driving the evolution of UK digital property landscape

Propertymark is driving the evolution of UK digital property landscape as sole agent representative on Land Registry’s new steering group.

Propertymark is the sole representative body for estate agents in the Land Registry’s new steering group deciding on the next steps for speeding up property transactions and reducing fall throughs.

The Digital Property Market Steering Group (DPMSG), of which Propertymark is a founding member, wants everyone involved in buying, leasing, and selling land or property to experience a secure, modern market that is transparent, customer and business friendly at all stages.

Propertymark has long been a key contributor to the promotion and progress of digital developments in the sector and played a vital role in the UK Government’s work on digital identity policy.  

Partnering with industry representatives

Propertymark will work with conveyancers and lenders as part of DPMSG represents an important coming together of key industry partners under a shared vision at a pivotal time for the property market. The group’s purpose is to help the property market work better for all by accelerating the adoption of digital technology, while ensuring it is transparent, secure and consumer friendly.

Founding members:
    • Law Society
    • Conveyancing Association (CA)
    • Council for Licensed Conveyancers
    • The Society of Licensed Conveyancers
    • Royal Institution of Chartered Surveyors
    • Chartered Institute of Legal Executives (CILEX)
    • CILEx Regulation
    • Council of Property Search Organisations
    • Propertymark
    • Building Societies Association
    • UK Finance
    • HM Land Registry

Through collaboration, innovation and a focus on emerging digital technologies we will build on existing progress across the home buying and selling system to get a better result for the customer: simpler, faster, more certain and less stressful.

There are four DPMSG working groups that will focus on:

1. Public commitment: Joint conference on Digital Property Market in 2023

2. Removing barriers and empower members to drive change: Upfront information

3. Research and Development: Embracing digital identity

4. Increasing transparency: Advocating for data initiatives – exploring interoperability

Podcast will keep the sector informed

Following a joint UK Government and industry gathering in September, DPMSG will launch a new podcast series – Property with a View – hosted by Mike Harlow, HM Land Registry’s Deputy Chief Executive and Director of Customer and Strategy.

Mike will speak with leaders across the sector as a way of exploring what changes need to happen and how the market can work together to achieve them. The programme of content will feature leaders from all corners of the industry.

Although there is no silver bullet, digitisation will be transformative for the sector, especially in relation to ID, digital deeds, digital registration, and providing important information to consumers about both the process and the property at an early stage.

The combined efforts of the whole sector – regulators, professional and trade bodies, and government – are needed to achieve this. This new group provides a forum for collaboration and achieving change, while enabling individual members to progress their own work in a co-ordinated way.

Propertymark is driving the evolution of UK digital property landscape

Timothy Douglas

Timothy Douglas, Head of Policy and Campaigns at Propertymark, said:

“Collaboration through digitalisation can help deliver a more streamlined, faster and cost-effective home buying and selling process.

“Propertymark remains committed to working in partnership with the sector to find solutions that bring about positive change for consumers, agents and wider society.”

 

Kindly shared by Propertymark

Main photograph courtesy of Pixabay