The Drive Toward Data Standards Organization

Getting listing details to home buyers can make agents and brokers feel like a frustrated American on the Autobahn. You laid down the cash for the Porsche-like technology solutions so that you can drive like a legend on the highway of business—but all the signs that tell you where you're going is in a different language. It doesn't matter that you have the most capable car on the road if you can't understand the local vernacular.

To engage home buyers, agents need to be able to communicate accurate information as soon as it's available. But MLSs and the associated add-on services often have overlapping, inconsistent, or localized data that takes valuable time and money to translate in order to effectively serve clients. Imagine the efficiency— and increased sales!— that could result from all MLSs speaking the same language.

The Real Estate Standards Organization (RESO), which is featured in our annual Technology Guide, is paving the way for agents to access property listing information more productively.

Our recent survey revealed that more than a third of brokerages struggle with translating real estate data from the MLS into six or more applications. But the standards developed by RESO enable MLSs, brokers, and associated vendors to more efficiently exchange real estate data in a common format. By using consistent terms and data structures, real estate technology services can put more accurate listing data at the fingertips of brokers and agents.