by Rebecca Walker — December 21, 2008—The leading standards development organization for the real estate industry, the Open Standards Consortium for Real Estate (OSCRE), announced the publication of the Appraisal Reporting Standard Version 1.0, paving the way for significant new efficiencies in the appraisal and related finance, brokerage and property management industries.
OSCRE’s Appraisal Reporting Exchange Standard expresses the Appraisal Institute’s (AI) widely adopted Commercial Data Storage Standard (CDSS) in XML schema such that both existing and new appraisal applications now have a machine-interpretable common language for exchanging information quickly and reliably, says OSCRE.
This development is especially beneficial to the struggling real estate services industry seeking increased productivity and business values for loan underwriting, portfolio analysis, sales and brokerage, real property management, demographic and trend research, and investments consultation
OSCRE Standards are initiated and developed by member organizations looking for high value business processes they wish to improve. For more information, see the Web site.
