PISCES has a long held ambition to provide standards for the global real estate market. Our relationship with OSCRE over the past 5 years has been a positive step, but dual branding and lack of a consolidated global strategy has meant only partial success. An important objective of my Chairmanship was to ensure that a global standard for real estate became a reality.

Those Executive members who attended the recent lunch event at IPD’s office will be aware that the two boards have been presented with a proposal to complete the creation of the single real estate data standards organisation.

Detailed documentation and copies of the joint board resolutions can be found here.

Both boards have now given their approval and will pass responsibility for the creation of the new organisation to a new OSCRE International Transitional Board (OITB) which is to comprise 3 directors appointed from the Executive membership of each organisation.

In addition the OITB will have an independent chair whose primary role will be to resolve deadlocks to ensure that the 1st January 2010 completion target is met. The principle objective of the OITB is to create the organisational structures necessary to give effect to the identical resolutions of the PISCES and OSCRE Americas boards. Once this task is complete, candidates will be sought and a new board will be elected by Executive Members.

When this has occurred and final approval given the existing organisations have undertaken to cease all operations in the area of real estate data standards and transfer funds to the new OSCRE International.

The OITB board members will be:

From PISCES:

• Stephen Spooner(Chairman of PISCES and representative of the Royal Institution of Chartered Surveyors)
• Ted Stratis - (ING Real Estate)
• Simon Mallinson - (Investment Property Databank)

From OSCRE:

• Dave Clute - (Cisco Systems)
• Zhen Tao - (Intuit Software)
• Bob Toothaker - (Institute of Real Estate Management and CBRE)

Independent Chair:

• Dave Hewett

We believe that the composition of the OITB board represents an exceptional combination of relevant interests and expertise in areas of operation. The task of establishing an effectively brand new global organisation with the finance and flexibility to become the home of all efforts in its field is enormous and of great importance.

It is the fervent hope of your board that an earlier completion than 1st January 2010 can be achieved but this will require further volunteer effort in tasks such as the drafting and review of documentation, marketing material, business plans etc.

All Executive Members are invited to contribute resources and expertise to a project that has the potential to make a permanent and positive contribution to the way real estate business is conducted around the world. If you want to play your part or nominate a colleague, please contact me or Catherine Williams .

The merger announcement will be made in the next few days and offers of assistance made in time can be included in that publicity.