The Lending Industry XML Initiative (LIXI) is to develop common XML data standard for real estate conveyancing. The National Electronic Conveyancing Office (NECO) has developed this in conjunction with LIXI and it aims to have this complete and operational by 2010. NECO is a co-operative venture between state government agencies, conveyancers, banks and independent mortgage processors, which aims to build an electronic exchange by 2010.
Now wouldn’t it be great if all of the major real estate portals/franchises/independents got together and developed the same for real estate agents?