Nearly 80 Percent of Large Brokers are Expanding and They're Demanding Standardized Data

If you believe that brokers are not engaged with RESO or data standards, think again.

According to the recently published 2018 RESO Broker Survey, nearly 80 percent of brokers are either considering expansion or are in the midst of expanding into new regions.

Brokers, especially larger brokers, are getting much more interested in leveraging RESO standards to implement their needs for expansion, innovation and efficiency.

So why are RESO standards important to brokers that are interested in expansion? The process of expanding from one to multiple MLSs can be a daunting task. According to the 2018 RESO Broker Survey, brokers and their technology companies suffer from several challenges. Some of the challenges are centered around inconsistent data fields and display requirements from market to market. Others involve complications of acquiring the rights to display or leverage the data from the MLS organizations they work with. And, finally, some of the challenges are simply caused by a lack of communication.

An MLS may change a field or policy, or even completely switch MLS system providers and not inform the technology companies that ingest data from the MLS. These communication breakdowns cause sites to go down, data to be inaccurate or, worse yet, cause inaccurate data to be displayed to the consumer.

If you would like to learn more about how to better serve the expansion needs of brokers, you can attend the upcoming RESO Fall Conference, Brewing the Next Generation of Data Standards, in Milwaukee, Wisc. from October 15th to 18th. The conference is almost sold out, so hurry so you don't miss out on this great educational and networking opportunity.

Register HERE today!

See a complete copy of the 2018 RESO Broker Survey here.

To view the original article, visit the WAV Group blog.