James Ginley, director of technical research, e.surv
As the real estate market continues its uneven march toward digitalization, one truth is becoming increasingly difficult to ignore: data is no longer a supporting player in the transaction process, but increasingly holds the entire system together. This has an inherent downside. Poor quality, duplicate or inconsistently recorded real estate data not only delays transactions, but also undermines trust, introduces legal and operational risks and silently extracts value from every participant in the chain. If the industry is serious about transformation, then understanding – and establishing – the role of data is not optional, but fundamental.
At every stage of a transaction, from instruction to completion, decisions are made based on information. That won’t change. The consultation on real estate information packages underlines the growing importance of the correct data.
Putting data at the heart of helping with the exchange of property means that if that information is managed unreliably, incorrectly, incompletely or inefficiently, the consequences are predictable, leaving a litany of stalled cases, failed deliveries, frustrated professionals and disillusioned buyers and sellers. But where all parties work from the same trusted information – there is the prospect of a positive spiral: fewer surprises, more certainty and ultimately better commercial results.
Provenance is important and that requires the attention of people on the ground who can really add value to the data collection process. The government’s ambition to make transactions faster, simpler and more transparent is commendable, but results will depend on whether data is treated as core infrastructure and not as a by-product of processes. The five key objectives the government has outlined, with a roadmap due in 2026, all implicitly rely on accurate, interoperable data. Success will depend less on policy intentions and more on sector-wide collaboration around how information is defined, shared and trusted.
Professional standards are integral to achieving government ambitions for greater efficiency. Data plays a key role here. Transparent performance metrics, clearer disclosure of processes and specialisms, and recognized accreditation schemes would help consumers navigate a market that many currently find opaque and intimidating. The success of the British standards institute Kitemark shows how powerful recognizable signals of quality can be when trust is fragile.
Not many consumers have confidence in the British housing system, with young people increasingly feeling left out. For a generation accustomed to digital security elsewhere in their lives, the opacity and delay of real estate transactions feel archaic. Sharing digital data in advance should not only be a matter of efficiency, but also create trust that matches the changing expectations of consumers.
Data, AI and automation only add value if they contribute to well-designed processes. Layering innovation on broken workflows only increases inefficiencies. Rethinking service agreements, information collection milestones, and professional incentives may feel uncomfortable, but they are necessary complements to better data.
Data and the insights we gain from it are inextricably linked. We know this from a risk perspective. The opportunity to change things for the better is getting closer, but we should not build on sand. Data and its reliability will support or undermine the technological solutions we all adopt.
James Ginley, Technical Surveying Director at e.surv Chartered Surveyors