As Real Estate becomes more data driven and complex, it will become increasingly important for the sector to address how we collect, manage and use data in the most ethical way for our businesses and society and the challenges that this presents.
The Data Ethics in Real Estate report written by Alpha Property Insight on behalf of the Real Estate Data Foundation (RED Foundation) highlights the growing ethical dimensions surrounding the collection and use of data and reasonable next steps for the sector.
“The Real Estate sector touches the lives of people in a much more profound way that most people realise. We spend around 90% of our time inside buildings – some 70% in our homes with the remainder spread across offices, warehouses, schools, shops, hospitals, restaurants, hotels, and a host of other settings.” Andrew Knight, International Standards Director
With this amount of exposure, we all need to ensure we are considering the ethical use of all data we collect and build this into policies and processes. By doing this and being totally transparent we will hopefully help prepare the sector to face the next decade’s biggest challenge head on.
“Buildings are evolving from concrete blocks to tomorrow’s digital platforms and as this happens, the role of a surveyor and other professionals are becoming ever more data driven. As a sector, we are set up in vertical silos based on job function, property type or lifecycle stage, however data needs to flow horizontally across all parts of the sector if we want to derive the benefits that are achievable.
The RED Foundation is a not for profit initiative that aims to help the sector with this sector wide approach and to raise data ethics up the agenda and it is fantastic that leading companies in this space, such as GoReport, are actively supporting the sector move forward. Tomorrow’s thriving property sector will be data driven and we need to get on the front foot today,” says Dan Hughes, founder of real estate technology consultant Alpha Property Insight, founder of the RED Foundation and member Data Ethics Steering Group.
Gavin O’Neill, CEO, GoReport commented: “Having recently received ISO 27001:2013 certification, raising awareness and sponsoring the Red Foundation Data Ethics report was in line with our commitment to ensuring we take responsibility for protecting customer data. The set of data ethics principles published by the RED Foundation and used by professional bodies are important steps to help reduce risk at a corporate and individual level. As stated in the report, everyone should challenge themselves, their companies, and their suppliers on their approach to the ethical use of data.”
Download a full copy of the report here: Data Ethics in Real Estate, The next decade’s biggest challenge