However what will provide the greatest benefits and ROI for the Real Property industry will be improving the efficiency, consistency, transparency and exchange of information that everyone requires to conduct business.

Decisions and transactions are made with information. Until we as an industry come together to establish a commonly used taxonomy (definition of terms) for how we enter and exchange information into the various software applications operating inside of all the new technology, we’ll be missing out on very real and high value business process improvements.

For an example of what I’m describing, your readers might wish to check out the webvideo created by Cushman & Wakefield who exchange appraisal reports with the Loan Underwriters at Prudential Capital.
http://web.pisces.co.uk/Public%20Library/OA%20Public%20Docs/WG-Presentations/CW-Prul-Appraisal.wmv

For more about the value created by industry leaders collaborating to improve how their organizations conduct business, including C&W, Prudential, Integra Realty and Snapwire, check out an interview with them.
http://web.pisces.co.uk/Public%20Library/OA%20Public%20Docs/WG-Presentations/AppraisalReportingWG/APPRAISAL%20INTERVIEW05DEC08.pdf

Thanks Noreen for your excellent articles.
Andy Fuhrman, CEO
OSCRE Americas, Inc.
andy.fuhrman@oscre.org
831.458.3346