Commercial Appraisal Data Standards
MISMO has released new data standards for commercial property appraisals for a 60 day public comment period ending on September 21, 2020. This new dataset will facilitate the efficient exchange of commercial appraisal information, critical for underwriting and loss mitigation, between multiple industry participants. The new dataset was developed from a collaborative effort of the commercial real estate and technology professionals over the last two years.
The Commercial MISMO workgroup brought together stakeholders starting in the spring of 2018 to create a better experience for conducting and exchanging appraisal information for commercial property. The workgroup released the stand-alone Commercial Appraisal Dataset specification along with several additional resources to facilitate ease of use and adoption including an implementation guide; logical reference structure; logical data dictionary (LDD); documented use cases in Excel; as well as sample XML files for each use case. Note that legacy MISMO commercial specifications will be updated to include new and modified data points, enumerations and structures associated with the new Commercial Appraisal Dataset at a future date.
The public comment period is intended to afford workgroup participants who participated on the proposal notice prior to final release, at least 30-days notice in order to review the exchange and disclose any applicable Patent Rights (as defined by MISMO's 2018 Intellectual Property Rights Policy).
At this time, MISMO also requests that any non-participant organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products, disclose at this time in writing. Disclosures and comments should be directed to firstname.lastname@example.org.
The Commercial Appraisal Dataset and related documents are provided for the purpose of providing an opportunity for comment on the product, as well as to afford an opportunity to disclose any applicable Patent Rights or other intellectual property rights. Any other use of this product, including implementation, is prohibited at this time.
The release and use of MISMO standards and other resources, including the commercial appraisal data standards, are governed by the MISMO Intellectual Property Rights (IPR) Policy. For more information on the policy, please click here.
All comments and disclosures should be directed to email@example.com.
For additional details, see the press release announcing the comment period.
Non-MISMO members can access the Commercial Appraisal Dataset and related documents here.
For more information contact firstname.lastname@example.org