New Standardized Commercial Property Listing Exchange Released
A new standard designed to streamline the exchange of commercial property listings between sellers, brokers, listing exchanges, buyers and industry stakeholders has been recently released.
A new standard designed to streamline the exchange of commercial property listings between sellers, brokers, listing exchanges, buyers and industry stakeholders has been recently released.
The
Commercial Information Exchange enables users to reduce the cost, time and errors associated with the current method of exchanging commercial property listing information.
The standard was released by the Open Standards Consortium for Real Estate (OSCRE), and was a collaboration of CB Richard Ellis, National Association of Realtors, Xceligent, Catylist, Appraisal Institute, OfficeSpace.com, PISCES and WayMaker Enterprises.
According to Oscre, the standard came following hundreds of labor hours and funding over a two year period to develop a standard method for supply-chain stakeholders to exchange information interoperably by agreeing on the business language entered into their software applications. The advantage for users of interoperable data exchange standards is to reduce the number of custom integration efforts necessary to integrate two or more software applications together.
The standard is available to the industry at no charge though a nominal fee to non-member firms is required for organizations seeking compliance certification. The standard can be accessed on
OSCRE’s Web site.
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