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Brokers: Demand Standards
Attending the RESO 2019 Spring Technology Summit was informative and fun, but one challenge resonated with me. The industry continues to be full of pitfalls and barriers when it comes to real estate information and standards. A common challenge echoed during the Broker Advisory Group was lack of compliance to the policy requiring the adoption of the RESO Data Dictionary and Web API. Why?
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How RESO Is Helping Brokers Define the Future of Real Estate Technology
By Sam DeBord, CEO of RESO Broker involvement in the Real Estate Standards Organization is reaching unprecedented levels. Today, the leading brokerage brands in real estate are heavily involved in creating and utilizing new technology standards. RESO members include over 100 brokerage brands and the vast majority of brokerage networks and conglomerates. A growing number of brokerage leaders serve on our Board of Directors, and our Broker Advisory Group is attracting feedback on the day-to-day needs of professionals. We continue to grow our membership by reminding the industry that RESO exists to benefit your organization. RESO isn't just a thinktank of data geeks—it's an organization intently focused on providing technology standards solutions that allow real estate professionals to provide more value to their customers every day. The RESO mission The mission of RESO is to create and promote standards that drive efficiency throughout the real estate industry. These efforts provide direct value to brokers' businesses, so engaged broker members are critical to RESO's success. In just the last two years, RESO workgroups have been hard at work developing many new broker benefits, including: Greater quality and broader data in broker and agent websites and apps: The rollout of a new IDX data standard for broker reciprocity and Spanish language capabilities is included in the latest version of the Data Dictionary, version 1.7. The Data Dictionary is the universal language that allows technology systems across the industry to understand and work with one another. Easier ways for brokerages to share their data with their technology partners: Agent rosters, open house information, property history, saved searches, showing events, and more are included in the latest Data Dictionary update. More seamless integrations between broker technology tools: RESO created the Organizational Unique Identifier to give each organization within the real estate industry a unique ID. The RESO OUID is the industry's most comprehensive and current list of REALTOR® associations and MLSs, as well as technology partners, affiliated businesses, and data providers. Broker and MLS tools can provide more accurate and timely data by accessing these IDs through RESO's free OUID API. Innovation in data delivery is the motivation behind the RESO Web API standard. The Web API is the modern way of transporting data. It supports both traditional technology vendors and new uses for technology such as agile real-time data delivery and updates to mobile web applications. REALTOR® MLS organizations are required to provide their members with access to data that complies with RESO Data Dictionary and RESO Web API standards. The development work that technology vendors undertake to make these standards upgrades will help fuel broker technology innovation and give brokerages better access to information and technology tools across markets. Looking ahead to what's next Where RESO can be most valuable to brokerages is providing a seat at the table to help decide the future of standards. If your franchise is a member, that means as an individual broker, you are as well. You are encouraged to participate in our discussions in the RESO online collaboration system. Membership also affords you one of the exclusive benefits of RESO membership: you're eligible and invited to be a part of any Workgroup meetings that you choose. Here are a few ways brokers can shape what's next for real estate through their RESO membership: Broker Advisory Group The RESO Broker Advisory Group identifies issues facing brokers of all sizes, provides specific recommendations to the Board of Directors, and promotes RESO as a driving force for the collective future of the industry. The group is currently generating feedback on broker data needs in their direct relationships with consumer customers. More information about the Broker Advisory Group can be found here. Cross-Platform Interoperability Workgroup The RESO Cross-Platform Interoperability Workgroup's purpose is to identify solutions that will bring together disparate systems to better serve the real estate industry, particularly the practitioners and brokerages. The group's initial focus: Transaction Management Systems. The real estate industry needs a standard for the discovery and description of transaction documents. The Workgroup will look to creating a standard that can: Easily share documents across TMS platforms. Easily add additional people to a transaction from the MLS roster. Retain the participants in the transaction, their roles and permissions, and other document metadata when documents are shared between platforms. More information about this Workgroup can be found here. Distributed Ledger Workgroup You've probably heard a lot of buzz about blockchain and real estate. How about a seat at the table where practical applications are being discussed? The purpose of the RESO Distributed Ledger Workgroup is to identify and document property lifecycle events. These events could be recorded in a distributed ledger by the industry participants to support accountability, provide instant notifications and identify rules/patterns that are valuable to real estate professionals. The workgroup will work closely with other RESO workgroups to maintain alignment with their work. The implications for brokerages are enormous. More information about the Distributed Ledger Workgroup can be found here. Internet Tracking Workgroup Internet Tracking data is a crucial component of business intelligence. This workgroup creates and maintains the recommended industry-wide standard for tracking all internet, product and service activity surrounding real estate listing data, brokers, agents, consumers, and utilized technology solutions. Learn more about the Internet Tracking Workgroup here. Research and Development Workgroup This is where great ideas start at RESO. The R&D Workgroup is the top of the funnel for data standards and the place where new ideas are discussed, and business cases are formulated and finalized to justify the involvement of RESO and the creation of standards. The R&D Workgroup serves as the entry point for information intake and task decision-making. Learn more about the R&D Workgroup here. All of RESO's workgroups, including the previously mentioned Data Dictionary, Universal Property Identification (UPI), Web API, and Payloads provide brokers valuable opportunities to shape the future of standards. That's why brokerages need to have both technology and business representatives involved in RESO Workgroups. RESO conferences are key One of the most important places a broker can have an immediate impact on helping to shape the future of technology standards is at a RESO conference. RESO conferences provide a unique opportunity for in-person workgroup meetings, in addition to the monthly scheduled conference calls. The RESO conferences offer exceptional networking opportunities for face-to-face meetings with some of our industry's brightest minds. Space is always limited and these conferences have a history of selling out early. The RESO Spring Technology Summit in Boise, Idaho, April 29 to May 2, is already sold out. It features a lineup of speakers and topics that will give brokers insight into what's coming next. A RESO conference is different: presenters roll up their sleeves, show what's under the hood, take all the hard questions and share solutions. Initial details about the RESO Fall Conference, scheduled for September 9-12, 2019 in St. Louis, can be found at reso.org/fall-conference. To join RESO, or for more information, go online to our website at www.reso.org or email us at [email protected] Sam DeBord is the CEO of Real Estate Standards Organization, or RESO, the organization responsible for the creation, promotion, adoption, and utilization of standards to drive efficiency throughout the real estate industry.    
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Boise RESO Spring Tech Summit Is Headed for a Sellout
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Forefront of Technology: The Importance of the RESO Web API Workgroup
Paul Stusiak, President and Owner of Falcon Technologies Corporation, has been involved with RESO for 15 years. With more than 20 years of IT experience, he currently co-chairs RESO's Web API Workgroup, formerly known as the Transport Workgroup, along with Scott Petronis, Chief Product and Technology Officer for eXp Realty. In this video, Stusiak summarizes the main goal of the RESO Web API and the work of the RESO Web API Workgroup as "helping people get data from 'point A' to 'point B' in a standard way so a new entry into the market can do this easily and successfully." Acknowledging that the Web API Workgroup is RESO's most technical in nature, Stusiak emphasizes that prospective members should not to be intimidated and welcomes newcomers. "It's important to have a voice at the table," says Stusiak, emphasizing the critical functions of a standardized Web API. Although the RESO Web API Workgroup is predominantly comprised of server-side technology professionals, Stusiak invites client-side implementers, builders of websites, apps, and other agent real estate technology to join. He notes this will give the Workgroup a "better understanding of what they are doing with their agents and make sure that we incorporate that into the standards so that it can be built properly." Stusiak details several features of the latest version of the RESO Web API and discusses the upcoming version, which will deliver new features to the industry. Stusiak explains the importance of including an organization's technology professionals in the discussion. He encourages participation, inviting technologists to join in on Workgroup conference calls or attend an upcoming conference. He says it's the best way to understand "where we're going with standard, [and] how it's going to affect them in the future." Don't Miss the Early Bird Discount for Boise Don't miss your opportunity for a seat at the table to influence real change in the real estate industry. Act soon, as the early bird registration discount for the RESO Spring Technology Summit in Boise, Idaho, April 29 to May 2 is still available, but ends this Thursday, February 28th. The RESO Web API Workgroup meets in-person at the Boise conference on Wednesday, May 1 for two hours. The latest event information, special hotel rates for attendees, and early bird registration discount information are available here.  
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RESO Announces 'Broker Breakthrough' with New IDX Data Standards
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Why Brokers Should Join RESO and Attend RESO Conferences
Carlos Pegado is an Oxford University graduate and 30-year industry veteran who emphatically believes in the need for standards across and within the real estate industry. An early advocate for real estate standards, Pegado wanted to become a force for change within the industry, which lead him to join the Real Estate Standards Organization (RESO). As an active RESO member and volunteer, Pegado is involved in both the Data Dictionary Workgroup and the Universal Property Identifier (UPI) Workgroup, contributing both his knowledge and vast experience to these groups. According to Pegado, the UPI is critical, especially for brokerages with a broad suite of services, to ensure that listing or customer data is easily accessed across business silos. As Pegado says in this video interview, the UPI is "the only way to track a listing and the customer across all the different platforms." Pegado emphasizes the need for the adoption and consistent use of data standards by insisting that all of his brokerage's vendors and software providers are either members of RESO or RESO Certified. He says, "working with a company that has not joined RESO would be detrimental in the long run and contrary to our beliefs in what we should be doing." Pegado also encourages brokers to attend RESO conferences. He cites the plethora of learning that takes place as well as exposure to numerous new vendors that make their debut at the conference. Such variety, he says, allows brokerage to see the "best of breed" solutions. According to Pegado, it was "simple to convince" the other leaders of his firm to attend RESO conferences, asserting that participating in the event and workshops is the only way to have a say in the direction of the industry as well as the future of real estate. "You need to part of a larger group," states Pegado, noting that in order to be part of what's coming, and have a voice in the changes that are happening, makes attending RESO conferences a must. Don't Miss the Early Bird Discount for Boise Don't miss your opportunity for a seat at the table to influence real change in the real estate industry. Act soon as the early bird registration discount for the RESO Spring Technology Summit in Boise, Idaho, April 29 to May 2 is still available. The latest event information, special hotel rates for attendees, and early bird registration discount information are available here.  
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How Is RESO Helping Brokers Get Ahead of What's Next in Real Estate?
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Telling Your Data Story: Easy Access to RESO's Organization Unique Identifier with Microsoft Power BI
I have been working with the Organization Unique Identifier (OUID) data from the Real Estate Standards Organization (RESO) for over the last nine months. RESO OUID data combined with other data sets for business analysis is critical for today's enterprising brokerages. My task was to see how I can make it easy for others to access the RESO OUID and incorporate other data for analysis. The answer – Microsoft Power BI.
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We Need a 'Common App' for Data Feed Approvals
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MLS Improvement Requires Broker Support
There is a progressive MLS leadership group that is fighting on behalf of brokers to make dramatic improvements in data management that needs broker support for their efforts. The group is called MLS Roundtable, made up of eight MLSs representing 300,000 brokers and agents. In an article published this week called Measuring Success for MLS Executives, Kathy Condon, President and CEO of Massachusetts regional MLS PIN, scribes an eloquent synopsis of the status of migrating data feeds from the RETS transportation method to RESO Web API. She urges the industry to move forward quickly and responsibility. They need brokers to support the effort by encouraging more MLSs to focus their attention and treasury to RESO Web API adoption.
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Brokers Say 'No' to Setup Fees
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New "Open Standards" White Paper from RESO
What if you could tap a button - like you do to pair a Bluetooth device - and all your MLS data would instantly populate in each of your applications? That's what open standards in real estate are all about. During our RESO Fall Conference in Milwaukee this week, a publication we are releasing tackles this subject head-on, our new "Why Open Standards are Vital to the Real Estate Industry: A RESO White Paper."
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The TRIBUS Case Study: RESO, Brokers and a Million New Voices
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How RESO Helped a Tech Firm Find the 'Cool Kids,' Launch Instant IDX Websites
Troy McCasland is the CEO of San Diego-based AgentSquared, a real estate tech firm that builds Instant IDX websites using RESO compliant Web APIs. Launched initially with FBS, the creators of Flexmls, AgentSquared is rapidly expanding, coming soon to both CoreLogic Trestle and Paragon through their API solutions. For McCasland, one of the best values RESO offers comes from attending its conferences. "This is the best conference for me," he says in this video interview emphatically, explaining, "It's the only conference where decision-makers and key influencers are easily accessible." "There's nothing else out there that offers this kind of intimacy," he says.
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Nearly 80 Percent of Large Brokers are Expanding and They're Demanding Standardized Data
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WAVes of Tech: Spreadsheets on Steroids, RESO, and MLS Policy
Last week, I was introduced to a new application while working on a project with a client. The application is Airtable and it has changed my view on using standard spreadsheet and database tools. Airtable has taken the spreadsheet and database world and simplified it so a non-technical person can create a database, have multiple spreadsheets, and change the presentation of the information with just a few clicks of a button. This web-based application works great for companies and teams of all sizes. All you need is your imagination to start building your own application. I have found Airtable's guide to be one of the best self-help guides from a Software as a Service (SaaS) company.
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5 Key Takeaways in Preparation for the FTC/DOJ Workshop
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How Blockchain Technology Could Transform Real Estate Listings and Marketing
Tired of the redundancies, errors, delays, waste, and exorbitant fees that have been part and parcel of real estate sales transactions since the dawn of time? From portal conundrums that create property search snafus, to transactional miscommunications that lead to seemingly endless delays, it may finally be time to stop the insanity. Meet Blockchain Technology
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Missing Data Points
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RESO: Brokers Welcome
When I was a young kid traveling in the car with my family, I would always see these signs that said, "Truckers Welcome." I didn't understand why there was this special invitation to truckers. Wouldn't everyone be welcome? As I grew older, I quickly realized the sign was to inform truckers there was ample parking space for their large rigs. Truckers had a big use case! As a trucker, if I wanted to visit a diner for a nice sit-down warm meal, I must have space large enough to safely park my rig. Diners caught on fast to this requirement and realized they could enjoy the revenue by creating a space for them to park. Once the parking problem was solved, they needed a method to entice truckers to use their parking and stop for a meal. Therefore, the signs!
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RESO Workgroup Tackles Internet Tracking, Shares New Survey Results
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Innovation Winners, 30 Industry Leaders Honored by RESO in Denver
RESO sold out its Spring Tech Summit in Denver last week three times, organizers said. Demand by industry tech and business leaders wanting to attend within the last two weeks forced the nonprofit to re-open registration twice until it pushed to capacity. The Real Estate Standards Organization filled the main ballroom to the brim, with just short of 300 people, at the hip Curtis Hotel in downtown Denver. Art Carter, RESO Chair and head of the largest MLS in the nation, CRMLS, noted how far the organization had come in the last five years. One of the most vital breakthroughs: the number of women attending RESO – and presenting on stage. Two other big highlights were the announcement of the two winners of its Innovation Competition and the honoring of two more dozen RESO members and leaders for "thousands of volunteer hours" to create, implement and advocate for real estate industry standards.
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Data Talk and the Consumer Experience
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It's Game On for Data Standards at RESO Denver Spring Tech Summit
The mile-high City of Denver will play host to the RESO Spring Tech Summit set for downtown at the pop-themed Denver Curtis Hotel, April 24-26. We only have 10 registration slots left for full-conference attendees. That means you will need to move fast to take advantage of a packed agenda that features winners of the RESO Innovation Competition and a nearly full-day "deep learning" workshop. And if you are registered but haven't reserved your guestroom with your own Pac Man machine or a Jimmy Buffett or Star Trek-themed-room at the Curtis, you may have to settle for another eclectic choice.
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RESO Confabs are Real Estate's Club 33
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RESO San Diego Hits a Homer with DataComp and Other Highlights
The first time you attempt anything is a risk. But when you back that risk with $25,000 in cash prizes and invest $15,000 in hosting the event, you are especially delighted when the result is a success. Everyone involved in the RESO DataComp at our recent San Diego conference should celebrate what was achieved. Our terrific event sponsor RPR, Realtors Property Resource and our prize sponsors FBS, the creators of Flexmls and Stratus Data Systems, Inc. Our remarkable panel of top-level judges, including Mark Birschbach of NAR and Second Century Ventures; Chris Heller of Keller Williams; Kyle Campbell of Hack Capital; Glenn Shimkus, who sits on the DocuSign Advisory Board; and Craig Rowe, a tech reviewer and reporter for Inman News. The participants, winners and the innovations based on RESO data standards that they all created within the 30-day window we gave them were simply incredible. We had more than a dozen entries from all over the U.S. The competitors' live presentations for the RESO DataComp on the first day of the RESO Fall Conference at the plush Pendry Hotel in San Diego were truly the highlight of the conference. The "Best Overall Product" was My Drawbridge, a highly interactive web app that allows real estate investors to find and develop opportunities in searching for land parcels, which won the overall prize and received the $10,000 Cash Prize. My Drawbridge also won "Best Use of Non-Listing Data" and snagged another $5,000 from the DataComp. letsbutterfly, a beautiful mobile app that creates CMAs, won the RESO DataComp "Crowd Favorite" and $5,000. Swim Lanes, a Blockchain app for real estate, won the $5,000 Cash Prize for "Best Use of Listing Data."
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Is Real Estate's Next Genius Idea at San Diego's RESO DataComp?
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5 Ways RESO Data Standards are Benefiting Brokerages
Real estate standards are coming of age with the massive number of potential benefits to brokers, agents and consumers that both the RESO Web API and Data Dictionary 1.6 update are going to deliver. The time for real estate brokerages and brokerage franchise executives to seize the improvements that RESO standards can provide their customers is now – not years from now.
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Data Is Power and You Have the Power, Brokers!
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MLSs Working Hard to Make Broker IDX Feeds Work Harder
Key Takeaways 1. The move for MLSs to transition to ONLY RESO-compliant IDX feeds is not that difficult Moving to offer only a RESO-compliant IDX feed is not that difficult. RMLS™, one of the first MLSs in the country to distribute only RESO-compliant IDX feeds, made the move in just FOUR weeks. They launched a campaign to their IDX providers that showed them the fields that needed to be transitioned to be RESO-compliant and requiring them to transition completely ONLY to a RESO-compliant IDX feed. 2. Promotion is key According to RMLS™, to make the move, MLSs will need an effective promotional campaign to be sure each of your technology companies is aware of the reasons for the change and knows exactly what they need to do to make the transition successfully. 3. Set a deadline Be sure to set a deadline with a reasonable timeframe to allow each of your IDX providers to meet the deadline. Since many of the largest IDX providers have already made the transition in RMLS™, it should make it easier for them.
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Brokers: How RESO Will Help You Become a GREAT Competitor Online
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RESO Rolls out RETS 1.9, Announces RETS Workgroup will "Sunset"
At the Spring Summit in Austin, Paul Stusiak, Falcon Technologies President and Chair of the RESO RETS (Real Estate Transaction Standard) Workgroup, summarized the latest improvements to RETS with the release of RETS 1.9. Many of the same updates for the RESO Web API were incorporated into RETS with the latest release. RETS 1.9 brings everything up to the current standards so people using third-party libraries and the latest security devices will be able to use them successfully going forward. Because the Web API is RESO's big focus these days, Stusiak noted that 1.9 would add a standard way to express geospatial search, as well as a package for developers who have already implemented the Data Dictionary. He noted that developers may be able to take that work and apply it directly back to their RETS servers. This way, he said, it could help make the transition to Web API faster and a little easier. He also noted that the GetPayloadList function was removed, as it was unused. RETS Workgroup Retires
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The 6 Things to Look for When Sourcing Quality Data
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RESO Offers Free Web API Tools for Connecting to MLSs
It's truly a RESO first. We just released Web API client tools – created by RESO -- to help software developers more rapidly deploy real estate software specifically for connecting to the hundreds of MLSs nationwide that have implemented RESO API Standards. This free software package includes the Web API client application itself, as well as the source code for the open source client software. We're excited about our first in-house creation of client software tools for a few of reasons. In the in the past, we relied on outside technology firms to develop client software for accessing real estate data based on RESO Standards. With our in-house developed software capability, we are adding significantly to the value of a RESO membership, while benefiting the real estate industry as a whole. We did so in response to what many RESO members have told us they need in order to develop and deploy real estate software that is dependent on real-time property data, because that benefit all players in the industry – from technologists to real estate professionals to consumers. About the new RESO Web API Tools What's also exciting is what this means: this desktop client application is written with reusable code libraries using .NET C# that allows rapid development of API client applications connecting to data sources leveraging RESO standards. Developers will be pleased to know that there are multiple packages available, each including the full source code and the standalone Reference Client that implements the code libraries. The different standalone code libraries can be used for rapid development in a custom application. The new offering from RESO is designed to save a software developer from dealing with the RESO Web API Specification and underlying OData, OAuth2 and OpenID Connect protocol details.
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[Video] Unleashing the Marketing Power of RESO for Brokers
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What's ahead for Trestle in 2017?
Trestle Subscriptions Trestle continues to pick up steam, and CoreLogic reports that 90 MLSs, representing over a half-million members, have subscribed to Trestle. If your organization has not subscribed to Trestle yet, please consider doing so today. There is no cost or ongoing obligation to sign up and review Trestle in detail. This is a great time to achieve RESO certification and position your organization to benefit from the opportunity Trestle represents. What exactly can Trestle do for you? The initial benefits of subscribing are outlined below. Data Dictionary Certification CoreLogic® helps maintain RESO Data Dictionary Certification for Trestle subscribers that are members of RESO. If you are an existing subscriber, CoreLogic has been working with RESO to re-certify the data dictionary on your behalf. Re-certification is processed automatically as each anniversary approaches, and this year resulted in an upgrade to 1.4 Silver designation. This is provided to RESO members with a Trestle subscription at no additional cost and without any intervention on your part. To check your certification status, please visit reso.org. If you are a new Trestle subscriber and a member of RESO, CoreLogic will help to secure Data Dictionary Certification on your behalf.
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Why Do Standards Matter for Real Estate Brokers?
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How Can RESO Make Brokers Money in 2017?
Few people understand industry standards. "That's for the computer geeks," most of us think. Our busy schedules and our tenacious focus on business priorities rarely allow us to fully understand how standards directly impact us every day. Our ability to easily communicate with one another relies on standards. Think of computers and operating systems. Right now, the giants are Apple and Windows. They each implemented their own standards for communicating between devices. If standards had not been designed and implemented, we would not have cell phones, tablets, laptops and desktops all talking to one another. Do you remember when Apple devices could not talk to Windows devices? So now, let's look at the real estate industry. We all agree that MLSs are our life blood for listing and finding properties suited for our customers, our revenue. Yet MLSs tend to have different ways of presenting data. So RESO has created a "data dictionary" that ensures each system speaks the same language and defines real estate data in consistent terms. As real estate listings flow from one place to another, they follow policies and rules through software that facilitates listings from the MLS database to be publicly displayed. This process is called Internet Data Exchange or IDX. It allows brokers to reciprocate information. So, I can see that your eyes are beginning to cross. Let's stop here and simply remind you to think about how fast information travels today. Think about all the technology that has dramatically changed our lives in just a couple of decades. And it's moving faster and faster BECAUSE of standards.
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Making the Leadership Lists: The Growing Influence of RESO
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RESO Standards Adoption Report
The Real Estate Standards Organization (RESO) has driven the most important data solution for real estate brokers over the past year. With support from the National Association of REALTORS®, all NAR® affiliated MLSs (think association-owned) are required to adopt the RESO standard for MLS data. This change compelled CoreLogic®, the nation's largest MLS provider, to make the changes to the MLS data feeds. Zillow Group also jumped into the mix with the acquisition of Bridge Interactive to complement RETSLY. But firms went further, and it's good for brokers. Prior to the NAR mandate to adopt RESO data dictionary, every MLS in the nation spoke a different data language. In parlance, everyone had different data fields and rules in those fields. For example, some would structure the number of baths as a whole number that added up all of the bathrooms, like 3.75. Others would structure the data to say 3 full baths, 1 half bath, and one quarter bath. Now, almost every MLS has adopted the same structure for data distribution through the RESO Data Dictionary. The way that any given MLS made choices about data structure was up to the MLS. Now it's a standard across them all. Read the full report on RESO Standards Adoption here!
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Four Brokerage Leaders Join RESO Board of Directors
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The RESO Revolution: Brokers Win Big with Data-compliant Vendors
The real estate industry is on the verge of revolutionary technological innovation—and achieving optimal benefits rests largely on the motivation of brokers and agents. By now, about 90 percent of all MLSs are compliant with the data standards set out by the Real Estate Standards Organization (RESO), which, in the words of WAV Group Founding Partner and RESO consulting member Victor Lund, is "one of the most collaborative industry-wide efforts we have ever seen" to reduce redundancy and replication of real estate information sharing. The resulting increase in efficiency will benefit brokers and agents directly through their technology vendors. Indeed, brokers and agents need their vendors need to be compatible with RESO data standards in order to be competitive now and in the future. For an industry driven by information, the continued adoption of RESO data standards will deliver brokers and agents more up-to-date and secure content from their MLS. In a nutshell, the standardization of fields for information that is transferred from the MLS to the applications that industry professionals use every day will mean that all the technology tools 'speak' the same language, without errors, redundancy, and complications caused by breaks in old-school data mapping. For broker and agents, access to the best information available can be at your fingertips—but only if your vendors get on board with the technological tide. By engaging vendors that are RESO certified, brokers and agents will also be positioned to reduce costs associated with their technology solutions. The most popular RESO-compliant way of data transport to vendors is the Real Estate Transaction Standard (RETS), or "mirrors" of data based on a common dictionary of terms. In effect, it enables synchronized data for easy digital transfer to vendor products used by real estate professionals.
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Brokers and MLSs Misunderstand RESO
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Freshly Back from RESO Fall Conference: A Real Estate Event with Passion, Innovation, and Whiskey
First off, I didn't come back with cowboy boots, a cowboy hat, a southern drawl or even a hangover. Not sure what's up with me lately, but it was still a great time. This was a pivotal event in many ways. I was absolutely blown away at the crowd. It's not a massive conference, but at over 300 people, attendance was up almost 40 perceny%! Hats off to Jeremy Crawford, the RESO Board of Directors and the entire crew at RESO who made it all happen. There were more real estate brokers than ever before, which means word's getting out about what standards can do for your business. Everyone I spoke to (even the cynical ones) could see the tide is turning and many were there to see and hear just what that meant. Even more than the crowd, though, the topics covered were also quite pivotal. Some highlights by day: DAY ONE RESO is no longer just about RETS – The first day was dedicated to workshop meetings, but the RETS 1.x group did not meet. CoreLogice's Matt McGuire noted that RESO is now about across-the-board standards for real estate, not only RETS. People are excited about standards (REALLY!) – The participation in the workgroup meetings was, I think, the best I've ever seen. Unfortunately, I couldn't get to all of them, but the ones I did showed an increased passion, drive and determination from both the workgroup chairs and the audience. Attendees were not afraid to speak up and take part in the discussion which is always the goal. Innovation is alive and well in real estate – There were demos galore during the Show-n-Tell, albeit with various technical difficulties. Attendees got to see the innovation being sparked in the industry live and up close. I also had the chance to present AddressReport and briefly describe how data and API standards made it possible. HomeSpotter won "best in show" and TrustFunds and Agent Inbox got honorable mentions, so congratulations to all! After a long day, everyone thoroughly enjoyed the pub crawl sponsored by Realtor.com.
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RESO looks to sell out Nashville Conference with broker-heavy agenda
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Why Brokers Should Care About Data Standards
As we mention in our 2016-17 Technology Guide, there's one important question that brokers should ask when considering a solution that uses listing data: Is this vendor RESO certified? RESO, or the Real Estate Standards Organization, was the subject of much discussion over the past year, thanks to a NAR mandate that required all MLSs owned by associations of Realtors to implement RESO standards by Jan. 1, 2016. While that may make it seem like data standards are an MLS issue, nothing could be further from the truth. Brokers and their agents are the no. 1 recipient of the benefits of standardization. That's because, before RESO, real estate data was in a real "Tower of Babel" situation. Every MLS used their own format for listing data, so it was like each one spoke a different language and struggled to understand the language of the others. This made everything from data sharing efforts to developing industry-wide technology difficult. RESO has standardized data into a single 'language' that all MLSs and technology vendors can use. Now organizations and solutions can speak to each other much more easily. This makes the real estate transaction much more streamlined and solves many pain points and grievances that brokers had against their MLSs. But brokers shouldn't make the mistake of thinking that RESO is just an organization for MLSs. In fact, RESO is actively reaching out to brokers in hopes that they'll join and contribute their crucial point-of-view to evolving data standards.
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RESO Slashes Brokerage Membership Dues, Makes Certification Member Benefit
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Show off your whiz, bang, wow, killer app at RESO Fall Conference
The Show N Tell session at last year's Spring Conference in Chicago was such a hit, we had to bring it back for the RESO Fall Conference in Nashville, Oct. 24-26. Since this could be the biggest RESO conference to date – we already have nearly 100 registrants and will have to close the door at 300 – this will clearly be the place for companies ready to unveil their latest data-related innovations that use RESO standards. What is Show N Tell? Hosted by our Vice Chair Rob Overman, the CTO of Lone Wolf Real Estate Technologies, RESO 'Show N Tell' is a place where companies take to the stage to demonstrate some of the newest breakthrough innovations in real estate. In the audience will be the industry's "movers and shakers," attending what has become real estate's most coveted data and technology conference. Both top management and technology leaders from MLSs, associations, technology companies and brokerages will be coming to Nashville. The audience will also be the judges: At the end of the Show N Tell, winners will be announced and recognized as a "RESO Standards Innovator," and will be included in a news release issued nationally. What are we looking for? The Fall Conference theme is a good indicator of what we are looking for: "Accelerating the Reach of Data Standards."  Do you have a product that is ready to take off? Is your product leveraging the RESO Data Dictionary and/or the RESO Web API in new and interesting ways? Does your innovation rely on MLS data, connecting to an MLS or other data source(s)? Do RESO Standards play a big part – or will they play a big part – in the success or uniqueness of your innovation? If the answer is yes to one or more of these questions, your firm should apply.
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RESO for Brokerages: 4 Ways New Standards Will Shape Your Future
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The RESO 2015 Fall Conference: Green Data, Broker Standards Adoption, and more
Over 300 Tweets and 836,914 impressions--those are the social media stats for the RESO 2015 Fall Conference. Though just a handful of people were behind those Tweets, the #RESO15 hashtag offered an incredibly informative look into the conference activities. We followed the hashtag for the entire three days that the conference took place. Day 1 saw the U.S. Department of Energy talking about how to incorporate energy data in listing information. Day 2 offered a flurry of activity, including talk of how to brokers to adopt Data Dictionary standards. Our co-founder, Marilyn Wilson, even hosted a broker panel discussion entitled, "How RESO Standards enables innovation for the new brokerage models." To keep you in the loop on conference activities, we followed the hashtag on Twitter and curated the event's best Tweets. Follow along with the conference in the 140-character posts below. * * * Day 1 RESO - DoE has 5 Accelerator Pilots @RMLSweb, @IRESLLC, @MREDLLC , @MRIS_REal_News and the NE energy efficiency partnership #BigData #RESO15 RESO - DoE mentions the feeds coming from @HomesDotCom as part of the #realestate industry's energy accelerator initiative #RESO15 #BigData RESO - DoE focused on RESO Data Dictionary to help define a new kind of Green fields - Green Verification Fields #greeneconomy #BigData #RESO15 RESO - During DoE workshops: Will Energy Score adoption be resisted by #realestate agents as some listings will have low scores? #BigData #RESO15 RESO - @kmalyala suggestion at DoE meeting re: low score homes: Give buyers a game plan to improve now, up future value later #RESO15 #BigData
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Upstream Revealed
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Brokers need full data transparency and unified standards, not self reporting
The room was filled with brokers, eager to hear how the real estate industry is beginning to make great strides in wrangling Big Data to the benefits of everyone: brokers, agents and consumers. The three panelists on stage represented a broad spectrum of the industry: Rainy Hake, a well respected brokerage leader who oversees the Technology, Marketing, Training and Strategy departments for Alain Pinel Realtors; Trent Gardner, the CEO of ListTrac, known as the "Google Analytics for Listings;" and Jeremy Crawford, the dynamic MLS leader who heads up RESO (Real Estate Standards Organization) and the chief evangelist for the Data Dictionary, real estate's "Rosetta Stone." Rainy shared a very telling observation during this session at San Francisco's Real Estate Connect: How the self-reporting data does not match up well with their own tracking data. This comment has been haunting me ever since, because the two other panelists represent organizations – RESO and ListTrac – are about data standards, transparency and unbiased, accurate information. Standards are vital RESO has gained real traction and its trailblazing effort to standardize data fields for property information will be a welcome godsend to real estate brokerages and technology firms. Backed by the NAR mandate of adoption by MLS firms that are connected to NAR (which is almost all of them), come January 1, 2016, the industry will be taking a bold step forward toward fostering accelerated innovation and cost savings.
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Shaping the Future: 3 Big Perks You Get by Joining the RESO R&D Workgroup
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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.
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Why Should Real Estate Brokers Join RESO?
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Top 3 Ways to Make the New IDX Rules Work for Your Brokerage
Good things are happening with the IDX rules from NAR. As many of you know, IDX or Internet Data Exchange are the policies that allow brokers to provide the complete inventory or listings available in their area on broker websites. These policies have been in place for some time, but thanks to the great efforts of Leading Real Estate Companies of the World (LeadingRE), these policies have been overhauled to make IDX data work even harder for brokerages across America. LeadingRE outlined several ways that IDX data could be more effective at engaging potential buyers and sellers on broker websites. The fruits of their labor are providing exciting ways for brokers to enhance and deepen the quality of information they can offer to consumers. 1. Sold Information WAV Group conducts more research with consumers than anybody else in real estate. We talk regularly to consumers about what information they need to make an informed decision about their real estate purchase. Universally, consumers ask for more information and specifics about a property to better understand its history, strengths and key attributes. Most importantly, they want to know about sold information for active properties as well as sold information for comparable properties to a house they're looking at. The new IDX rules now allow a broker to choose whether they would like to include SOLDS on their website to provide richer information. You just need to call your MLS and request that they switch your feed from one with just actives to one with actives and solds.
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NAR Conference Takeaways: Upstream, Danger and More
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Brokers and MLSs: Collaboration vs. Confrontation
The real estate industry come a long way from the fall of 2013, when The Realty Alliance's Craig Cheatham warned a crowd of MLS executives attending CMLS in Boise, "You've got 10 days." That moment in time – described by blogger Notorious Rob as "the most interesting 30 minutes in the history of real estate conferences" -- poignantly captured the mood of real estate brokerages towards the MLS industry. Fast-forward to NAR Midyear 2015, and confrontation has clearly turned into collaboration. This week, RESO or Real Estate Standards Organization, heralded the great strides the organization has made in fostering participation by America's leading brokerage organizations. Once thought of as solely the province of the MLS, RESO recently added Leading Real Estate Companies of the World®, the largest network of over 500 premier locally-branded firms responsible for more home sales than any other real estate network, to its membership roster. Importantly, Leading RE joins Cheatham's The Realty Alliance, which is already a member of RESO and represents a network of North America's elite real estate firms, whose members serve most every major market on the continent. Add to RESO's key real estate brokerage membership ranks Realogy (Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, and Sotheby's International Realty®, and ZipRealty®), RE/MAX LLC, and other independent firms, such as Michael Saunders and Company, and you have literally the who's who of real estate brokerage that now have a seat at the table and a voice in shaping future real estate industry standards are deployed.
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Major Changes In Real Estate
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The 2015 NAR MLS Policy Change Checklist for Brokers
Since its announcement, we have heard a lot of exciting feedback around the NAR MLS policy changes. For those who don't know, in November the board of directors of the National Association of Realtors passed policy changes aimed at making broker listings websites more consumer-friendly. The policies included the wide spread adoption of the RESO Data Dictionary by January 2016 and compliance with the RESO Web API by June 2016. These changes will make real estate more industry-friendly, consumer-focused, and competitive against third-party portals. This is exciting for any broker with a listing website. How can you leverage these changes to make the most of your online presence? The Onboard team put together a complete guide on understanding each policy and how it will affect your website specifically. This is a great guide to see how you can utilize these changes in your future planning. The guide includes an overview of each policy passed, their implications, and a checklist that guides you through potential changes or improvements you could make to your site in 2015 and beyond. Click through to the next page to view the full guide.
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Is Your Data CRAAP?
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