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eXp Realty First RESO-certified Real Estate Brokerage
eXp Realty announced that it is the first RESO Web API and Data Dictionary certified real estate brokerage. With these certifications, eXp Realty has the ability to manage its own data, and promote efficiencies within its applications and enable interoperability between systems and partners.
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Why Joining RESO Is Vital for Real Estate Newcomers
Paul Stusiak, President and Owner of Falcon Technologies Corporation, co-chairs the Real Estate Standards Organization (RESO) Transport Workgroup with Stephen Ledwith, Vice President of Engineering for eXp Realty. A real estate industry veteran with more than 25 years of experience and a Real Estate Transaction Standard (RETS) pioneer, Stusiak has been one of RESO's most active and enthusiastic volunteers over the last 15 years. Stusiak shares why joining RESO is especially important for newcomers because of the benefits it delivers. "The reasons to get involved in RESO are many," Stusiak says. "For someone coming into the industry new ... RESO, in particular, are really important, because they allow you to connect with the rest of the industry." RESO is filled with many of the real estate technology industry's best minds and innovators. "The community itself has been around for a very long time and is very friendly and open," says Stusiak. "Even though it's very technical, sometimes those people can give you valuable insights into your next moves, your steps, pitfalls that you might not have considered." In addition to having front-row access to interesting technical details, new entrants to the industry will be exposed to important business relationships, such as those with the Multiple Listing Service (MLS). Stusiak points out that many newcomers don't understand that many tasks require the participation of local MLSs. "We often have preconceived notions about the industries that we're entering," says Stusiak. "This is a good place to get those shaken out – to identify the technology areas where you need to work to succeed as well as to get some of the business background that you need for success." Stusiak also emphasizes the importance of attending RESO conferences. "Conferences are an additional benefit to members," he says. "Being able to meet and talk to people is a valuable resource ... they will frequently volunteer information that will be useful to you." Stusiak adds that despite the fact that we live in a digital world, "Nothing can compare to looking a person in the eye and saying, 'Well how did you do this?'" These kinds of personal interactions are commonplace at the annual fall and spring RESO conferences. Register For RESO's 2019 Fall Conference: Just Weeks Away! The theme of the next RESO conference is "Data Standards: The Gateway to Home Run Technology Solutions." The conference itself will be held in Saint Louis, MO, September 9-12. But hurry! Discount registration ends August 26th, and hotels sell out fast. | VIEW LATEST CONFERENCE INFO
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The RESO Conference: The Best Conference in Real Estate; Early Bird Discount Ends on Wed July 17th
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[Podcast] With RESO Setting the Standard, Will Real Estate Innovation Accelerate?
The dirty work. The work that nobody sees. Like the job of the football's offensive linemen who toil in the trenches to protect high profile quarterbacks. They are unseen, but without them, the offense goes nowhere. Kind of like the role of a standards organization. Some have said that data is the new oil in real estate, and if that's the case, the Real Estate Standards Organization (RESO) might well be the organization that holds the key to how well industry incumbents can fully leverage the power of Big Data. At the same time, one must wonder if broad adoption of data and business standards will accelerate pressure from newcomers. In either case, RESO's work is critical to real estate industry innovation, and in this episode of Gradually...Then, suddenly!, we talk with Sam DeBord, RESO's new CEO to explore some of these questions and more. You are invited to tune in and learn more by clicking the link below or listening on your favorite podcast site. Tune in to the podcast now! Russ Cofano is a 30-year real estate industry veteran who has served in executive capacities in various industry sectors. Russ was President of eXp World Holdings, led Industry Relations for Realtor.com, and acted as Chief Executive Officer for the Missouri REALTORS. He is a noted author and speaker at industry events on data, technology and innovation in the brokerage industry.    
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Meet the RESO Broker Advisory Group
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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
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Boise RESO Spring Tech Summit Is Headed for a Sellout
Over 225 attendees have already registered for the RESO Spring Technology Summit, "From Broker Innovation to Web APIs: Blue Chip Tech in Boise," set for April 29 to May 2. We're fast closing in on a sellout six weeks before the event, so if you are thinking about attending – or bringing someone with you – now is the time to act! RESO conferences have a well-earned reputation for offering exceptional content and incomparable networking opportunities. They not only attract some of the industry's top decision makers and brightest tech minds, but our Summit schedule allows for people to spend time together, meeting face-to-face. RESO summits like this one are also are unique because space is limited: it's another reason why we keep selling out. The "Blue Chip" Tech Summit Boise is well-known internationally for its blue football field — a.k.a. "Smurf Turf" — and home of the Boise State University Broncos. But Boise is also a home for major operations of leading blue chip technology firms, including HP and Micron. In November, USA Today reported Boise as a "Top 25 Most Innovative City in the US." The lineup of topics and speakers for our RESO Summit are equally stellar. Among the Spring Technology Summit highlights: Auto-Populating Green Data Into Listings: The Regional Multiple Listing Service (RMLS™) was the first MLS in the US to add green fields in the spring of 2007. In the fall of 2017, RMLS became the first MLS to auto-populate Home Energy Scores from a real-time data service, Earth Advantage's Green Building Registry API. Hear how the City of Portland's Home Energy Score program jump-started the effort and got data flowing in a way that is easy for listing agents and energy assessors. Speakers: David Heslam, Executive Director at Earth Advantage Institute and Greg Moore, Chief Technology Officer at RMLS, who also Chairs the RESO Research & Development Workgroup. Sí, Hablamos Espanol: A discussion on implementing the Data Dictionary in Spanish: The latest version of the RESO Data Dictionary 1.7 provides Spanish-language capabilities. Moderator: Amy Gorce, Principal, Business Development at CoreLogic. Panelists: Jonelle Simmons, Team Lead Product Management Group at My Florida Regional MLS (MFRMLS); Michael Mckay, MLS IT Coordinator at Greater El Paso Association of REALTORS® and Greg Moore, Chief Technology Officer at RMLS™. Mapping MISMO to RESO Data Dictionary: MISMO® is the standards development body for the mortgage industry. MISMO and RESO are both making strides for standards development in the mortgage and real estate industries. Dr. Harigopal has mapped the RESO Data Dictionary to MISMO and will share his work with the audience in this exciting development. Speaker: Dr. Umesh Harigopal, Co-Founder & CEO, PropMix.io LLC Everything You Need to Know to Succeed with Web APIs: Learn why APIs are the way forward for real estate, the problems they solve, opportunities they create and how to implement them today. Speakers: Developers and API experts from the Zillow Group. The Unstoppable Power of Blockchain: Making Data Transparent, Provable and Immutable: A dive into the impact of blockchain on real estate and what is happening today. ULedger Inc is a local Boise company. Speaker: Peter Anewalt, Co-Founder / Chief Operating Officer at ULedger Inc. Decide the future of real estate, in person Another huge highlight in Boise will be the in-person RESO Workgroup meetings. This is where volunteers can meet face-to-face and put in the hard work it takes to get standards in place to advance the future of our business. During the three days of the Spring Tech Summit, the Broker Advisory Group, along with seven of the eight RESO Workgroups (which meet monthly by conference call), will meet in person. These Workgroups include Cross-Platform Interoperability, Data Dictionary, Distributed Ledger, Internet Tracking, Research and Development, Universal Property Identification and Web API (formerly Transport). The preliminary conference agenda schedule of Workgroup meeting times is online here. Great value, good times Finally, RESO Conferences also are known for their affordability. RESO is an independent, not-for-profit trade organization with limited staff and primarily depends on volunteer support. That's why we rely on sponsors to help us keep our conferences both affordable and fun! For this year's Technology Summit, our local host, Intermountain MLS, is a Platinum Sponsor, along with realtor.com and Zillow Group. FBS, CoreLogic, Centralized Showing Service, Inc. and Auth0 are all Gold Sponsors. DynaConnections Corporation, Lone Wolf and ShowingTime are Silver Sponsors. CRS Data, remine, RPR | Realtor Property Resource, RE/MAX and Austin Board of REALTORS® are all Bronze Sponsors. All of this incredible support allows us not only to host amazing after-hours receptions, but your low-cost Summit registration fee includes a full breakfast for three days of the event, two days of lunches, and evening receptions that include food and drinks, hosted by our top Sponsors. If you are not a RESO member, there's no better place to understand the value of a RESO membership than to join us in Boise. If you are a RESO member and haven't yet registered, it's time to go online now and reserve your space before we are all filled up. It looks to be a blue chip event in every sense in Boise! To register online go to https://www.reso.org/spring-mtg.    
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Forefront of Technology: The Importance of the RESO Web API Workgroup
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RESO Announces 'Broker Breakthrough' with New IDX Data Standards
The Real Estate Standards Organization's (RESO) newest update to its RESO Data Dictionary – version 1.7 – will add vital updates, including a new IDX (Internet Data Exchange) requirement and Spanish-language capabilities. The RESO Data Dictionary is known as the real estate industry's "Rosetta Stone" as it establishes a common language, allowing real estate information to be understood and translated between systems. The new Data Dictionary 1.7 update includes an IDX data standard for Broker Reciprocity that has 219 fields related to the property. This new standard allows the same MLS property listing information from different MLSs to be delivered to brokers. IDX is an essential tool for brokers as it enables them the right to display each other's listings on websites and mobile apps. This move solves a common problem that occurs when brokers are members of more than one MLS. Because the IDX information that brokers currently receive is not standardized, brokers must spend time and resources to "normalize" the property information they collect from different MLSs before using it. The new requirement is expected to be applauded by the brokerage industry, which has pushed for IDX standardization. "IDX standardization is now a reality," said Art Carter, chair of the RESO board and CEO of California Regional MLS (CRMLS). "This has been a top priority for our Broker Advisory Group and we are pleased to deliver a solution that the broker community has wanted to serve consumers better." David Gumpper, who chairs the RESO Broker Advisory Group, said, "This is exceptionally good news for brokers and for every IDX technology firm. It means quicker time to market and that brokers will be able to expand into new markets faster. If all MLSs follow NAR mandates, we will have the highest quality and consistency of IDX data going out across all markets. This gives consumers access consistently to the best information. Agents and brokers look better when the information we give consumers is better. We've been lobbying for an IDX standard for years and now RESO is delivering a major breakthrough for brokers." Also, for the first time, the RESO Data Dictionary 1.7 update mandates that MLS organizations must implement the RESO Data Dictionary on the RESO Web API to obtain certification for the new version. This certification combines the validation of a company's system to structure real estate information to RESO standards and the ability to communicate the information to others through an Application Programming Interface (API). "The RESO Web API is the future for standardizing real estate data," said Carter. "This will allow us to award MLSs RESO Data Dictionary and RESO Web API certifications instantly when the Data Dictionary is implemented on a certified RESO Web API platform." Carter notes the RESO Data Dictionary is available to more than 1.3 million members of Multiple Listing Services (MLSs) nationwide – predominately real estate agents and brokers – mostly through a communication standard called RETS. Carter explains that RESO wants to see full MLS migration from RETS – a technology created in 1999 – to modernize how real estate information is communicated through current robust and responsive web API technology. In layman terms, the transition to APIs will mean that more real estate agents and brokers will gain access to the most current and accurate data available, thus delivering the right information to their consumers. The interest in RESO standards continues to grow globally. Firms in Canada and India are now using RESO standards and interest is on the rise among international software development companies. The RESO Data Dictionary, which now includes Spanish-language fields, will serve Spanish-speaking countries. Including Spanish also responds to requests from brokers and agents to better serve their sellers and buyers in the U.S. Fifty-two million people comprise the U.S. Hispanic and Latino population alone, according to the U.S. Census, and it's growing at four times the rate of the nation's total population. Other updates for Data Dictionary 1.7 include the addition of hundreds of new data fields to provide for information on real estate agent teams, open houses, social media sites, roster information, property history, saved searches and showing events and hundreds of pick list items related to property, members and offices. Data Dictionary 1.7 also includes new fields for the RESO Organization Unique Identifier (OUID), a common method to give firms an identification number in the RESO ecosystem, as well as additional fields to track web user activity across the internet. "The latest version of the RESO Data Dictionary will deliver huge benefits to both real estate professionals and consumers," said Rob Larson, chair of the RESO Data Dictionary Workgroup and CIO of CRMLS. An original pioneer of the Data Dictionary, which traces its roots to 2011, Larson added, "The dictionary is a living document and will continue to grow, but it's exciting to reach this milestone. It's taken the help of a lot of dedicated folks to get to where we are. But the implementation of this version by MLSs, brokerages and software technology firms will lead to the improvement of websites, mobile apps and other technologies, and we believe it will drive more innovation." RESO's commitment to evolve its Data Dictionary and real estate standards is shown by its dedication to hold conferences, which hosts its in-person workshop meetings. Both Larson and Carter encourage brokers, MLSs and technology firms to join them at the upcoming RESO Conference in Boise, Idaho, April 29-May 2, 2019. More improvements to the Data Dictionary and other RESO standards are part of the agenda. Details about the RESO 2019 Spring Technology Summit can be found online at https://www.reso.org/spring-mtg.    
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Why Brokers Should Join RESO and Attend RESO Conferences
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How Is RESO Helping Brokers Get Ahead of What's Next in Real Estate?
Long-time RESO member and Chair of the Research and Development Workgroup, Greg Moore is a 16-year veteran at RMLS and is currently VP of Technical Systems. He's been in the real estate technology industry for more than three decades. Greg began his real estate technology career in 1986 at the Santa Barbara Board of REALTORS®. There he installed and managed its in-house MLS system. His career includes a two-year stint at HomeSeekers.com, where he developed and deployed one of the first Internet-based MLS systems. Portland-based RMLS is the Northwest's largest REALTOR®-owned Multiple Listing Service. It serves some 10,000 real estate professionals in more than 2,200 offices licensed throughout Oregon and Washington. RMLS has been a stalwart supporter of RESO, having been the first MLS in the nation to only offer IDX data feeds based upon the RESO Data Dictionary. At RMLS, Greg facilitates the technical requirements for data processing, hardware services, network communications, and management information services. In this video interview, Greg discusses the importance of RESO Data Standards, and specifically, how real estate brokerages benefit from all the work that RESO is doing and the importance – and value – when brokers become highly involved.
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Telling Your Data Story: Easy Access to RESO's Organization Unique Identifier with Microsoft Power BI
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We Need a 'Common App' for Data Feed Approvals
Sometimes we just make it too hard to do business in real estate. We spend SO much time and energy talking about herculean tasks like statewide consolidation efforts, yet spent so LITTLE time talking about practical, unsexy solutions that can make our lives so much easier. During the broker panel Helping Brokers Compete and Innovate: Broker Panel at the this month's RESO Conference in Milwaukee, we discussed a simple innovation we can deliver in our industry that can make a world of difference in helping brokers get access to real estate information with a lot less hassle! While brokers and their tech partners are looking for easier ways to access the RESO Web API, there are even MORE interested in a way to make the process of gaining data feed approvals easier. Today, every MLS's data feed application is different. In some cases, the information needed to gain approvals is not clearly spelled out and it is extremely difficult to find someone at the MLS to answer questions.
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MLS Improvement Requires Broker Support
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Brokers Say 'No' to Setup Fees
If you missed the Real Estate Standards Organization (RESO) 2018 Fall Conference in Milwaukee, you should plan on attending the 2019 Spring Conference in Boise, ID. There were many informative and powerful sessions sprinkled throughout the conference. RESO is the only conference where MLSs, brokerages, and technology companies collaborate under one umbrella, striving to create a better industry. This time, there was one topic that resonated with brokers: "Say 'No' to Setup Fees."
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New "Open Standards" White Paper from RESO
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The TRIBUS Case Study: RESO, Brokers and a Million New Voices
Membership among brokerages in the Real Estate Standards Organization – RESO – has exploded in recent years. With nearly 1 million agents now RESO members through their brokerages, we have a million new voices helping us further our mission to create and promote the adoption and utilization of standards that drive efficiency throughout the real estate industry. Recently, we collaborated with real estate brokerage technology provider and RESO member TRIBUS to better understand the practical value that standardized data can deliver to real estate brokerages. We also wanted dive deeper to understand better the vital role that broker technology partners perform in addressing many of the crucial challenges that brokerages face today. More importantly, we wanted to put a spotlight on our findings and share them broadly.
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How RESO Helped a Tech Firm Find the 'Cool Kids,' Launch Instant IDX Websites
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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.
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WAVes of Tech: Spreadsheets on Steroids, RESO, and MLS Policy
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5 Key Takeaways in Preparation for the FTC/DOJ Workshop
When Daniel Castro from the Internet Technology and Innovation Foundation (ITIF) took the stage at Inman in New York on January, we all thought he was going to provide an academic view of our industry and provide us with some food for thought. What we didn't know was that he was going to tell us how the consumer needs open data because we have somehow been holding back on them. We also didn't know at the time that the ITIF had been promoting Zillow for many years. Castro published an article on the Federal Government's Economic and Statistics Administration website featuring a promotional video from Zillow in 2015 entitled, "Open Data Impact: How Zillow Uses Open Data to Level the Playing Field for Consumers." The contentious conversation that begin at the Inman Data Track got me thinking about all of the ways that the industry supports open data for use by brokers of all types, technology companies – both start-ups and well-established leaders – and, of course, the consumer.
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How Blockchain Technology Could Transform Real Estate Listings and Marketing
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Missing Data Points
It was a great week at NAR Midyear to re-connect with fellow colleagues, have sonorous discussions about the industry, and – of course – chitchat about the current controversial brew-ha-ha that seems to occur around these types of events. Over the last month – especially last week – I had the pleasure of talking to many real estate technology companies who provide products and services to brokers and agents. When the discussion would lead to back office architecture, the discussion was segmented into two groups: Companies who have been in real estate for some time and new companies who are just starting their foray into the real estate industry.
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RESO: Brokers Welcome
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RESO Workgroup Tackles Internet Tracking, Shares New Survey Results
Chris Lambrou, Chair of the RESO Internet Tracking Workgroup and CIO at Metro MLS, and his terrific group of volunteers have been putting a bow around the final package for the initial release of online tracking standards from the Internet Tracking Workgroup. At their latest meeting during the Denver Spring Summit, Chris revealed the group's efforts has resulted in standards that include 49 fields and an additional 69 field values (enumerations). It's exciting to see the major website and mobile app players who have been at the forefront of internet tacking -- Zillow, realtor.com, Homes.com, ListTrac, and others -- come to the table and together work to create a common method everyone agrees upon as the standard for tracking. In the past, these entities had different analytical approaches and results. Now with the RESO standard, we have a unified method of tracking across all entities and can provide meaningful data to agents and brokers. Most recently, a remarkable amount of progress has been made. The recent additions of the ability to track the activity of saved searches, open houses, property, photos, virtual tours and more across multiple sources in a common manner keeps adding value to this exciting new RESO standard. They've added a lot of other data they can collect too, but the biggest news that came out of the meeting was the results from the 2018 RESO Internet Tracking Survey that Chris reviewed as well. The WAV Group just completed the survey of RESO members. We received 124 responses and among the most significant takeaways were:
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Innovation Winners, 30 Industry Leaders Honored by RESO in Denver
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Data Talk and the Consumer Experience
For the last month, a lot of people have been talking about data. Inman Disconnect crafted a data statement as one of its Parker Principles, RESO's spring 2018 conference was all about data, and the Information Technology and Innovation Foundation (ITIF) held a panel to discuss how real estate can be more competitive with technology, which included data as a component of its theme. Here are some thoughts on the good, bad and ugly uses of data.
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It's Game On for Data Standards at RESO Denver Spring Tech Summit
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RESO Confabs are Real Estate's Club 33
Denver will be my fourth RESO Spring Tech Summit. Compared to many of the RESO leadership, who, like WAV Group, work for companies that are charter members, I'm still a newbie. Even so, RESO conferences have come a long way from the Chicago spring meeting I attended in 2015 at the NAR HQ. This year's tech summit is set for the pop-themed Denver Curtis Hotel, April 24-26. There's the Jimmy Buffett and Star Trek-themed guest rooms. Others have Pac Man machines in them, an inspiration for the conference theme: "It's Game on for Data Standards." RESO conferences have become our Club 33. For the non-Disney super fans, Club 33 is the exclusive, private club side of Disneyland and Disneyworld that only a limited number of people get to experience. I make the analogy because RESO Conferences are limited to 300 people, attract the brightest tech minds around, and are attended by many industry key decision makers and influencers. It's a genuine VIP crowd. It is so intimate that you can get face time with anyone attending. And when you leave, you often feel like you were part of something special. That's not hyperbole: ask a first-timer what his or her experience was after a first RESO meeting, post-2015.
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RESO San Diego Hits a Homer with DataComp and Other Highlights
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Is Real Estate's Next Genius Idea at San Diego's RESO DataComp?
Colleges have given birth to some of the most exciting and innovative startups of our lives today. You know the obvious ones: Page and Brin at Stanford created Google; Zuckerberg with Moskovitz, Saverin, McCollum and Hughes at Harvard created The Facebook; Ferdowski and Houston at MIT created Dropbox; and Michael Dell as a freshman at the University of Texas created PCs Limited (which became Dell). Then there is Reddit (University of Virginia), Snapchat (Stanford), WordPress (University of Houston) and Yahoo! (Stanford again) just to name a few more. In real estate, legend has it that ZipRealty was born in visiting lecturer Brad Inman's class at the Haas School of Business at UC Berkeley. At RESO, we want to help give birth to genius ideas to improve real estate. The mission of RESO is to find ways to drive efficiency throughout the real estate industry by creating and promoting the adoption and utilization of standards. So why not reach out to our colleges and universities, as well as the incubators and tech startups even outside our own industry, and bring in fresh ideas and some of the brightest young minds to help us look at how to improve the real estate ecosystem through data standards?
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5 Ways RESO Data Standards are Benefiting Brokerages
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Data Is Power and You Have the Power, Brokers!
The smart money is on brokers who figure out how to differentiate themselves online by leveraging MLS data in new and exciting ways. Brokers really DO have the power to take back their leadership position online if they fully take advantage of the rich and engaging MLS data that is available today.
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MLSs Working Hard to Make Broker IDX Feeds Work Harder
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Brokers: How RESO Will Help You Become a GREAT Competitor Online
Brokers, even those that invest significant money in their online presence, struggle to engage potential customers. In just about every market, brokers have taken a backseat to venture-backed sites that are constantly launching new bells and whistles to capture the attention of potential home buyers and sellers. There's been a group of hard-working technology leaders at work creating the Real Estate Standards Organization, or RESO, as it is called. This smart community of thinkers, led by many of the largest broker organizations—including Keller Williams, Home Services of America, REALOGY, Watson, Crye-Leike, Leading Real Estate Companies of the World, The Realty Alliance, Michael Saunders and Company, The Group and many others—has built a standardized way to describe real estate used for websites, marketing tools, back office systems and just about every system that brokers use today that are dependent on MLS information. So what does that buy a broker in everyday, practical terms? Lots of things. I am going to explain just one of them that can be a huge advantage for a broker website.
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RESO Rolls out RETS 1.9, Announces RETS Workgroup will "Sunset"
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The 6 Things to Look for When Sourcing Quality Data
Onboard Informatics has been aggregating data for 15 years. We strive to provide quality data for our clients that it easy to use and effective, but what does that really mean? If you want to make sure the data you use is quality data, there are six key things to look for. In this blog, I'll explore each element, why it's important, and the potential ramifications if it's off. There are many ways to examine the quality of data, but these are the main components: 1. Is the Data Complete? When we talk about completeness in the context of data, we are really talking about the final user experience. In other words, will the data meet or exceed user expectations? If you are building a real estate tool that provides home sellers a recap of the last sales price of all the properties within a specific area, you want to make sure the dataset will account for all the home sales. If there are significant gaps, whether in time or area, the end user will notice and you will instantly lose credibility. When you are looking for a data source, find out how often the data is updated, the source of the data and the overall coverage to make sure it is complete.
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RESO Offers Free Web API Tools for Connecting to MLSs
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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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