data

Coadjute launches Digital Property Data Packs in bid to streamline transactions

Property technology provider Coadjute has announced the launch of its Digital Property Data Pack service, which it says is set to significantly cut transaction times.

Designed to simplify property transactions by automatically collating data from a wide variety of trusted sources, Coadjute say the Digital Property Data Pack enables sellers to complete the form and share the data electronically with other parties involved in the transaction.

The Digital Property Data Pack is designed to “comprehensively” cover the requirements of the relevant form types. This includes the Home Buying and Selling Group BASPI form and all important information about a property including its history, ownership, and legal status.

The idea is that the forms are “rapidly and automatically” populated from a wide range of third-party data sources such as HM Land Registry and Groundsure.

This information is then collated into a standard, accessible format that can be reviewed and shared between buyers, sellers, estate agents, conveyancers, and others over the Coadjute network.

Coadjute say their Digital Property Data Pack contains five key innovations:

Open data: The pack fully applies the Home Buying and Selling Group’s Property Data Trust Framework (PDTF), ensuring the data is in a standard format for all users.

Seamless sharing: Data is shared and can be uploaded as data – not in a PDF format – something Coadjute say is a first in the UK. This means that data entered by a home seller and forwarded to an estate agent, can be immediately forwarded and uploaded to the conveyancer’s system without rekeying.

Form switching: The Digital Property Data Pack can be switched and viewed in a ranged of standard formats at the click of a button, such as from BASPI to proprietary formats.

Data provenance: Every data point has a known origin/provenance stating when and where it came from. The approach allows users to see and compare what different providers believe the data point should be for each field of the form.

Infinite sources: Any data source on Coadjute’s open network can be used to populate the pack, meaning data can be pulled automatically from a potentially infinite number of data sources. The proptech provider suggests the range and depth of data will increase as the ecosystem grows.

“The launch of the Digital Property Data Pack is significant for Coadjute and we believe, the property industry more broadly,” said Dan Salmons, CEO, Coadjute:

“For the first-time, up-front data can be sourced from an infinite range of providers, held in a standard form, and passed around the market digitally. It consigns the use of PDFs and emails for data collection to the history books.

It’s one thing collecting information, but half the battle is sharing it. For the first time, Coadjute enables all the information to be shared rapidly and digitally with the other parties in the deal – as data – without losing provenance.

We expect the Digital Property Data Pack to speed up the process and reduce the likelihood of surprises and delays during the transaction.

It’s all part of Coadjute’s mission to make the property transaction process as easy and stress-free as possible for buyers, sellers, and the professionals that serve them.”

5 Responses

  1. This seems to put Coadjute into direct competition with many of the companies that they were trying to entice onto their network? Many of these companies understood Coadjute to be an integration network not a holder or purveyor of data/products?

  2. Hi Nigel,

    Coadjute is a transaction orchestration platform. We facilitate the smooth and efficient exchange of data between parties in a property transaction, adhering to open property data framework and standards.

    The data comes from trusted data providers and is then distributed to estate agents, conveyancers, and others connected to the transaction within our network, meaning they don’t have to individually integrate into data sources. The network is open meaning any data provider can join, and businesses on the network choose which provider they use.

    Ideally, at the end of the transaction, home buyers would be able to store this data in their property logbook or a similar tool. I’m aware that property logbook companies are working towards having an API based on open standards available.

    Thanks, John.

  3. I like the term “transaction orchestration platform”. From what I can see from John’s reply, the platform is agnostic as regards the data gathered in the pack so long as it conforms to the open property data framework and standards. I agree that a property logbook would appear to be the natural place for the data to be stored going forward.

    Regards

    Stewart

  4. Completely agree Nigel,

    We have met with Coadjute a few times to discuss integration and when a commercial partnership was discussed for other products, we were told that they had no interest in competing against suppliers of the industry and would just be the facilitator with their integration network.

    Looks like now things are taking a lot longer for them to gain some traction they are looking at alternative revenue streams with a ROI needed on the funding received so far. But are they biting the hand that feeds them…..

  5. Have to agree with Conveyancing Supplier on this one. They’ve raised £13m or not far off this and will need to get a ROI on this for theri investors due to their limited traction.

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