Universal Property ID
Universal Portable Property Unique ID Repository Background
There are many examples of unique identifiers within and outside Real Estate community. With the volume and disparity of multiple listing services and technology companies providing information about properties there is a need to have a portable mechanism for identifying properties.
While other organizations have created similar solutions in this space (ECCMA, ODUSD-I&E, ESRI, MISMO, and others), these have use cases and/or implementation details that do not effectively address the needs of Real Estate industry.
RESO has formulated a basic concept that a Property ID be derived from the authoritative public description.
Universal Portable Property Unique ID Repository Business Use Cases
- Avoid duplication of referenced properties when they are represented across organizations
- Eliminate duplicate listings
- reducing statistical reporting errors
- identify redundant listing in otherwise disparate listing repositories
- Provide a universal portable ID to allow coherent queries to service vendors
- Provide for precise event recording (across multiple sources)
- Accurately verify and integrate third party real estate data including property assessment data with the base MLS listing data through linking by the universal portable property unique ID
- Allow downstream listing consumers (websites, brokers, members, etc.) to effectively represent data in evolved statuses (sold, expired, etc.) through linking by the universal portable property unique ID
Universal Portable Property Unique ID Repository Approach
Initially, the goal of the project is to achieve a model with an initial uniqueness pattern greater than 90% for properties across the United States, and be viable world-wide. As a research effort, we will evaluate parcels in the US to verify that a given property can be expressed in terms of their respective governing authority, and the authority’s representation.
When the formula of public records information is sufficient to uniquely identify properties, services can be implemented to search for properties, and given results, can be represented as this ubiquitous ID. This service would be hostable by any technology company including RESO with sufficiently available public data, address data, and other filtering ability. Since the ID itself is based on public records, any data steward should be able to provide the same ID for the same property.
Ultimately, the ID would be used in the Data Dictionary, and can then be used in services across the real estate ecosystem to provide deeper information on a property. This frees those implementations from having to implement the advanced searching for properties and PUID construction.
Universal Portable Property Unique ID Repository Scope
- Define a model to represent a portable property ID (PUID) based on public information
- Define Repository based solution that can be implemented by RESO or other technology companies
- Define standard RESO Web API signatures for:
- Searching and returning one or more PUIDs
- Based on address
- Based on Geospatial coordinates
- Searching and returning one or more PUIDs
- Based on other property characteristics as determined if feasible
- RESO hosts and provides an open source universal portable property unique ID repository service that implements (2)
Real Estate Standards Organization
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DLU January 9th, 2018