What the Heck Is the RESO Data Dictionary and Why Is It Such a Big Deal?

The work of RESO has been getting a warm reception lately, and we've come a long way in the nine months since the National Association of REALTORS mandated that "all MLS organizations owned and operated by associations of REALTORS® will implement the RESO Standards including: the RESO Data Dictionary by January 1, 2016."

But we have a long way to go because I am still asked by agents, brokers, and multiple listing services, "What the heck is the RESO Dictionary?" almost everywhere I go.

The good news is that our message about what the Data Dictionary is – the "Rosetta Stone for real estate listing data" – is resonating with brokers. They are not only hearing our message, they understand why this is such a big deal and are acting on the value they see in what we are doing by becoming members of RESO. More brokers than ever are going to be having a seat at the table by contributing to our R&D Workgroup, helping both shape future iterations of the Data Dictionary and creating more new standards to foster innovation that will further RESO's mission to drive efficiency throughout the real estate industry.

The new content on our website (reso.org) is designed to answer both the technical and non-technical questions anyone has about not only the Data Dictionary, but other RESO created standards and the crucial certification process that is key to the adoption of standards that will drive efficiency throughout the real estate industry. Plus, we're working hard to get in front of as many influencers and leaders as possible to help us spread the word about Data Dictionary Certification and the role of RESO.

Outreach is working

I just returned from speaking to many real estate brokers at Inman Connect in San Francisco and meeting with brokerage managers and technical leaders at a Leading Real Estate Companies of the World gathering.

Alain Pinel Realtors' Rainy Hake, who was on the Inman Connect data panel moderated by 1000watt's Brian Boreo, shared with tremendous passion and honesty many of the pain points that agents and brokers have with their MLS experiences and how the Data Dictionary is vital in helping fix what is currently a broken system. Again, that's why RESO membership is so vital for brokerages: We need the broker-owner's perspective.

We clearly have struck a nerve, as I answered questions for more than an hour after the session was over, many of them from brokers hungry to hear what RESO is doing with Data Dictionary and to suggest more ways we can help foster new standards for more innovations that will streamline the real estate transaction process.

It really is a big deal

Hundreds of MLS and other source providers gather data. But what good is it if the data cannot be shared or understood? The Data Dictionary ensures that each system "speaks" the same language. That's why we dubbed it the industry's "Rosetta Stone." It is the common standard that defines real estate data in consistent terms and data structures. It creates a template that data providers can follow to format the most common fields used to provide property information consumers are seeking.

The RESO Data Dictionary is simply a really big deal as it will fundamentally and positively change real estate by engaging MLSs and their technology providers to make the lives of agents and brokers better, but, more importantly, please the consumer with a better experience.

Brokers understand that industry standards are a vital component in driving real estate technology innovation that will directly benefit their brokerages. Every real estate brokerage technology that interfaces with MLS data – IDX websites, mobile apps, marketing technologies, CRMs -- will all benefit from the RESO Data Dictionary. For brokers, the value of the Data Dictionary, once they hear our message, becomes very real and directly relevant to their businesses.

More ways to engage brokers

Over the next several months, everyone associated with RESO will be asked to share our messages about the importance of Data Dictionary Certification and the role of RESO with the entire real estate industry.

By reaching out to brokers – whether it is at the upcoming state Realtors conventions in Florida and the Carolinas, the CMLS annual meeting in Kansas City in October, our own RESO Fall Conference in Austin this October, or at NAR San Diego in November – we will continue to work hard to bring more brokers up to speed on the Data Dictionary and the value of having a seat at the table with a RESO membership.

Help us spread the word: We want everyone in the brokerage community to know thay we welcome the opportunity to speak with them through webinars (hosted by CMLS) or in person at their meetings and conventions, because the work of RESO and the looming Data Dictionary deadline really are a big deal.