OSCRE International

OSCRE Announces Data Model Collaboration with NMHC and Cherre Over the past several months, OSCRE has been collaborating with the Real Estate Technology and Transformation Center (RETTC), a new technology community created by the National Multifamily Housing Center (NMHC) and Cherre, a leading real estate data management and intelligence platform.?Participants in the project include representatives of rental housing firms of all types including affordable, conventional, senior and student, property management software developers, internet listing service providers, as well as technical advisors from Cherre and OSCRE. ? This project extends the existing Multifamily Information Transaction Standards (MITS) to include a fee transparency data model using a similar approach to that undertaken in developing OSCRE’s Industry Data Model?.?The public comment period runs through December 4th, and we encourage you to review the draft version of the Fee Transparency Data Model. Once finalized, this update will become MITS Property Marketing/ILS Version 5.0, enabling the transparent presentation of fees for rental housing consumers. The draft version is available using the link below. ? “OSCRE International is thrilled to be participating in this project with RETTC and Cherre. The speed with which the development project was conducted is a testament to the benefits of collaboration that address a common need, and the commitment of the project participants,” stated Lisa Shanahan Stanley, OSCRE’s CEO.???

In the first in our series exploring data strategy maturity stages using a standards-based data approach, we look at the “Ad Hoc” stage. Organizations in this stage have not implemented an enterprise-wide data strategy, nor have they defined an explicit role for data standards.?As a result, these organizations lack a clear picture of their data inputs and outputs, how these streams of information can be leveraged, or how standards could be deployed. Signs that an organization’s data standards strategy is at this level of maturity include: ? Data definitions are generally not aligned across an organization and between business partners ? Heavy reliance on software vendors to provide a data model to support technology solutions ? Minimal recognition or application of data standards ? Minimal integration of systems and data from multiple sources To progress beyond this stage, stakeholders must begin by identifying and categorizing the various data streams flowing both within the organization and externally with service providers and external business partners.?With that information in hand, they can move on to assessing the opportunity for implementing data standards as part of a data strategy. The OSCRE Industry Data Model? can help with this process. Visit oscre.org or e-mail [email protected] for more information. #OSCREIndustryDataModel #RealEstateDataStandards #DataStrategy

OSCRE International November E-News https://conta.cc/4fz68tC

Where is your organization in its journey toward data standards strategy maturity? Establishing a standards-based data strategy is essential to maximizing the capabilities of innovations and integrations involving the likes of building information and workplace management systems. Ensuring the effectiveness of that strategy from day one requires laying the groundwork before implementation and continuing to drive data improvements, as well as data strategy and data standards penetration, throughout the organization. OSCRE International uses a maturity model to explain this concept and illustrate the steps organizations go through on their way to optimizing their data. These steps include: ·????????Ad Hoc ·????????Repeatable ·????????Defined ·????????Managed ·????????Optimized Over the next few weeks, we’ll explore each step in more detail through a series of posts. Regardless of where your organization is currently on the maturity scale, OSCRE is here to help guide you to the next level. Visit OSCRE.org or contact us at [email protected] for more information. #RealEstateDataStandards #DataStrategy #DataInActionNotDataInaction

Real estate stakeholders are harnessing the power of artificial intelligence (AI) to deliver a myriad of benefits, including reducing costs and waste, optimizing their portfolios and improving equipment performance. This month's OSCRE Innovation Forum will bring together three industry leaders to discuss how the role of AI in real estate has grown and evolved over the past year. The panelists will be: ? Joe Moskowitz, Head of Business Development & Strategy at Keyway ?? Alireza Pourhashemi, VP Program Management Office at BGO ?? Michael Thompson, Global Head of Business Intelligence at JLL Technologies Join us for the free webinar, “AI Advancements in Real Estate: Assessing Progress Over the Last 12 Months,” on Thursday, November 21st from 11 AM to 12 PM ET. Register at https://lnkd.in/esBRn4WB. #OSCREInnovationForum #AIinRealEstate #RealEstateDataStandards #DataInActionNotDataInaction

Portfolio acquisitions and dispositions are information-intensive, requiring the exchange of data between parties during the due diligence phase and upon completion of the transaction. The OSCRE Industry Data Model??(IDM) includes a use case to help with data exchange for parties who are acquiring an investment portfolio, benchmarking outcomes following an acquisition or disposition, and a host of related scenarios. In OSCRE's October E-News, we delve further into how the IDM can help you streamline the collection and analysis of data during portfolio transactions. To read the latest newsletter, visit https://lnkd.in/egniSw-t. #RealEstateDataStandards #OSCREIndustryDataModel #DataManagement

Our October 2023 OSCRE Innovation Forum webinar focused on the role of artificial intelligence (AI) in real estate. For this month's webinar, we’ve invited three industry leaders to provide an update on how AI’s impact has grown and changed since then. Bringing the perspectives of?a service provider, a technology company, and an investment firm, the panelists will discuss: ? ? AI use cases that have garnered attention over the past year ???Lessons learned about AI’s potential ???Developments to watch for in the year ahead ???The increasingly essential role data standards play in maximizing the power of AI Join us for the free webinar, “AI Advancements in Real Estate: Assessing Progress Over the Last 12 Months,” on Thursday, November 21st from 11 AM to 12 PM ET. Register at https://lnkd.in/esBRn4WB. #OSCREInnovationForum #AIinRealEstate #DataInActionNotDataInaction #RealEstateDataStandards

During last month’s OSCRE Innovation Forum webinar, “Environmental Data Exchange Pilot:?Conducting Your Own Opportunity Assessment,” the panelists discussed how organizations can evaluate whether or not they need to implement data standards. Cherre’s Kevin Shtofman gave this advice: “For companies that have multiple property types spread over multiple regions, the complexity of downstream reporting, workflow execution, and operations increases rapidly. Look at the number of different destinations this data needs to go to to execute your business, and then figure out how many different inputs you have. If you have a big number of inputs and a big number of outputs, that becomes a cataclysm of potential permutations of information. In that scenario, data standards become very, very important.” If you missed the live webinar, you can find a recording at https://lnkd.in/evDAjKbc. #OSCREInnovationForum #EnvironmentalDataStandards #RealEstateDataStandards

At OSCRE's recent Council of 100 event, leaders discussed the challenges of integrating proprietary data that is often siloed and housed with software firms, service providers or other external partners. To accelerate AI adoption, real estate leaders and partners must integrate?siloed data and find a path forward to successfully work together for their mutual?clients. Data standards?are the common language that enable the collection and analysis of data from these disparate sources. Case in point: Hines, MRI Software and Cherre are collaborating on a pilot to exchange energy and water data that uses OSCRE’s Industry Data Model?.?The goal is to provide Hines (the customer in common) with data based on the new OSCRE Environmental Data Standard to facilitate reporting on a variety of platforms. For more information about how to start this process, visit OSCRE.org or contact us at [email protected]. #EnvironmentalDataStandards #RealEstateDataStandards #OSCREIndustryDataModel

“There’s so much data quality required not only to do analytics, but to start moving towards automated or agentic AI analytics. The only way we’re going to get there is by applying standards and rigor to the data.” That’s Dan Meers, Data & Analytics Leader at CohnReznick LLP, talking about the importance of data standards during last week’s OSCRE Innovation Forum webinar, “Environmental Data Exchange Pilot: Conducting Your Own Opportunity Assessment.” Many thanks to Dan and the other panelists, Adam Hastings, CFA, CIPM from Hines, Ian Niblock from MRI Software, and Kevin Shtofman from Cherre, for participating and sharing their valuable insights. If you missed the live webinar, you can find a recording at https://lnkd.in/evDAjKbc. #OSCREInnovationForum #EnvironmentalDataStandards #RealEstateDataStandards