The Open Property Coalition, supported by lenders and convened through CFIT, is moving into a testing phase. Its aim is to improve the exchange and usability of property information across the homebuying and mortgage journey—an area where missing or late data can contribute to transaction delays and poor customer experiences.
For advice firms, interoperable property data could eventually support faster fact-finding, clearer affordability conversations and more targeted lender research. AI tools may be particularly useful in summarising structured property information and highlighting missing documentation, but they should support rather than replace professional review of title, valuation, suitability and customer circumstances.
Operational priority: assess whether CRM, sourcing and document-management systems can securely consume standardised data, maintain an audit trail and obtain appropriate customer consent.