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Sign into your accountBrokers and MLSs Misunderstand RESO
November 29 2016
Our industry is in the dawn of a new day.
With some measure of struggle, the nation's MLSs and their vendors have endeavored to adopt a set of standardized fields for data transportation from the MLS system to applications that support the real estate industry. I consider this the dawn of the effort because, for the very first time, MLS adoption of real estate standards are more strictly mandated by the National Association of REALTORS® MLS Policy.
For years, the National Association of REALTORS® supported and funded the Real Estate Standards Organization, which is referred to by its acronym, RESO. Despite being a free-standing not-for-profit with an independent board of directors, the bulk of the funding for RESO came from NAR, and was supplemented by MLS vendors and a few others.
Today, the Real Estate Standards Organization has blossomed into one of the most collaborative industry-wide efforts we have ever seen, with funding from vendors, brokers, associations, and MLSs. The effort ties MLS vendors, broker and agent technology vendors, MLS operators, associations of REALTORS® and many brokerages together. This group is funding and directing a massive overhaul of how information (data) is used today, and laying a strong foundation for the future. It has inspired transformation.
Like anything new, different and technical, there is also a massive level of misunderstanding that is frustrating the efforts. In some small way, my hope is to clarify some things to set people straight. We try hard to understand before disagreeing, and disagree without being disagreeable.