Universal Property Number or UPI is a new RESO standard for real estate businesses. It was released in 2017 with the aim of furthering data consolidation in the real estate industry; this time on a global level.
Mark Besset, who is the lead member of a workgroup assigned to UPI, believes it is a work in progress, and soon properties all around the world will benefit from this ID referencing system.
Universal Property Identifier is a fresh standard and there is so much to say about it, but here are five things you should know about UPI as a real estate professional:
1. It Works A Lot Like ISBN
We all know ISBN. It is the international book number which is printed on the back of your hard copies along with a barcode. UPI is supposed to do the same for properties and their features. The difference is in the fact that UPI is still not as widespread as ISBN and real estate business functions differently from the publication business.
Further, ISBN is a digit-only ID while UPI includes letters as well.
2. UPI Follows an Alphanumeric Standard
Given that UPI is intended to be a reference ID, its design is based on the most important feature, location!
The ID is formed using the following pattern, and it will include information that is currently available as standards:
All organizations can recognize and use UPI but may not be able to generate one. According to the documentation by RESO:
“Organizations that maintain detailed public records history or otherwise have access to public records can readily create the UPI. Organizations that do not maintain this information will be able to obtain the UPI from their records vendor.”
4. UPI is Not Supposed to Carry Information
UPI is intended to function as a reference ID. Some might argue that it will eventually contain information but this is not the case for its design. The ultimate goal is for each property to have a globally recognizable ID so real estate systems around the world can deal with properties in a more integrated fashion.
5. UPI is Not Case Sensitive
A universal property identifier may include letters and numbers that are separated by dashes. Speaking of letters, there is always a question on whether or not it is case sensitive. We don’t need to worry too much though. Although UPIs are usually written in capital letters, they are not case sensitive.
What’s Next?
RESO standards have revolutionized real estate technology in the last 20 years. From Data Dictionary to RESO API and now UPI, RESO is always trying to make sure the real estate business runs smoothly. As a smart real estate professional, it is critical to stay updated with the latest technologies and use them to stand out.
Rate our blogs
Disclaimer
The opinions or information expressed in this article are those of the author and do not necessarily reflect the official views, policy, or position of Realtyna. The information on Realtyna’s Website is general, for informational purposes only, and is not to be relied upon or interpreted as real estate, legal, accounting, or other professional advice or a substitute. Please discuss anything related to the certification process, professional advice or legal procedures with your MLS providers.
Please sign up or login if you have an account. After login,you will access all articles for free!
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. Read More
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Fancify Pro theme is a third party theme. All licensing and support are carried out by Splendor Studios team and are not included under Realtyna’s support coverage.
Fancify theme is compatible with WPL but it has not been tested for add-ons. For further information, please content Splendor Studios.
Request A Demo
Please fill out the form to learn more about Realtyna’s Web Solutions & Email Offers.
Got Questions?
Need More Info?
Got Questions?
Need More Info?
Got Questions?
Need More Info?
Got Questions?
Need More Info?
Got Questions?
Need More Info?
Want to Get Ahead in Your Real Estate Business?
Stay up to date on all things real estate & real estate tech with our weekly newsletter.
Let us show you how we can help you generate leads
Request A Product
Please fill up the form. One of our representatives will be in touch with you very soon!
Get A Bundle Offer
Please fill up the form. One of our representatives will be in touch with you very soon!
Sorry, the comment form is closed at this time.