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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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BoxMLS Announces New Open Source Initiative
BoxMLS, a real estate technology company providing search and collaboration tools, on Tuesday officially announced OpenBoxMLS, an open source software initiative to modernize the software available to MLSs, brokerages and technology companies in real estate.
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OpenAI Says New AI too Risky for Full Disclosure
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The 'NOT INVENTED HERE' Philosophy Can Get You in Trouble with Technology!
I love it when CTOs and technology leaders take pride in their work. They believe they can do anything and many times they are absolutely right! A tech leader with a unique understanding of a company's customer base, coupled with the unique strengths of the organization, are in a great position to create innovation that cannot be built by anybody else. There are times, though, when technology teams take this philosophy too far. They believe they can build EVERYTHING their company needs. They don't trust or respect third party companies that possess a deep understanding of a particular type of technology solution because it "was not invented here." Because of their ignorance, arrogance, insecurity or budget constraints, some internal technology teams try to build every type of technology, regardless of the skillset of the internal team.
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A Real Estate Brokerage with a Technology Vision
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Marketplace Networks in Real Estate
Andrew Chen and Li Chen co-authored a fantastic piece entitled What's Next for Marketplace Startups? that details the ascent of platforms as a business model, starting with "unmanaged horizontal marketplaces" like Craigslist through the "Uber for X" era and into today's fully-fledged consumer platforms like Opendoor. Below, I'll walk through a paraphrased analysis of their work and apply it specifically to the real estate industry to take a peek at what lies around the corner for brokers and home buyers/sellers.
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Upstream Charts New Direction
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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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Open API? Yes! Check that Box.
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Three Stories for You to Read: Amazon, Cybersecurity, App Dev
In the event of Inman Connect this week, these were three stories I found which piqued my interest this last week. Will Amazon Uber-ize the Real Estate Industry? Cisco and Juniper Networks stocks slipped last Friday on news from The Information that Amazon was entering the $14 billion data center equipment business. While searching for more news, I stumbled upon investment firm TwinRock Partners' article about Amazon and real estate.
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Google Maps: It Was Too Good to Last
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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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5 Ways to Build a More Convenient User Experience
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Upstream's Journey to Production
"​If it weren't for the rocks in its bed, the stream would have no song." - Carl Perkins ​​It's been an exciting journey navigating the uncertain waters of legacy systems, disparate industry interests, fiefdoms, incentives and "wives' tales" to bring Upstream to life. There were times it felt like we needed to brace ourselves for Class 5 rapids. But I realize the excitement is just beginning as we prepare to put Upstream into production. Upstream started differently than traditional start-ups. It wasn't two people sitting in a garage with a unique idea trying to figure out how to build, market, sell and scale it. The catalyst was escalating frustration. The troubling inefficiencies and data control issues had been around for years, but they seemed to get more expensive, the liabilities greater and the ability for a brokerage to capitalize on their data increasingly "watered down." It was a frustration great enough for competitors across the country to collaborate on a solution. The founders wanted to remove the inefficiencies and expense of operating in a patchwork of redundant and overlapping software vendors and MLSs. More important, they wanted to develop a system that allowed them to control the distribution and use of their data. Giving access to one of their greatest assets needs to be specific and given with intent. Upstream is simple in concept but complicated in execution. However, few in our industry, even its critics, argue its merits.
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The 5 Best APIs for Demographics
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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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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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The best approach to mobile is an integrated approach
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