The purpose of this paper is to explore the current state of data commercialisation and external distribution in the Finnish real estate and construction (REC) sector. We focus on how companies could more effectively benefit from digitalisation, with more holistic utilisation of data from smart buildings. We assess the current state of data utilisation and distribution using a start-up company analysis and industry workshops. According to our research, the data from smart buildings is gathered on a large scale but very seldom distributed outside company borders. The reason for this almost non-existent external data distribution is the lack of value of the external data. As a solution, we propose the Internet of Buildings framework. The framework is based on a platform ecosystem model that is complemented with data commercialisation roles. It takes into account the current data-related opportunities and challenges in the sector. Within the framework, we suggest stakeholder roles and modes of interaction that promote value creation from smart building data. The framework can be used as a starting point for developing data commercialisation and external data distribution in the sector.