At the last NAR Annual, the Multiple Listing Issues and Policies Committee passed a new rule which will require all Association Owned MLS Providers to be RETS Compliant by June 2009. The formal verbage is below.
Recently, we have been getting some requests about what all this means. Well outside of its AWESOMENESS, this is a huge step forward for data neutrality within the Real Estate Industry. It opens up doors for applications to interface directly with any and all systems, the easy transfer of data between systems, sharing of data to allow one point access to overlapping markets. The list goes on and on, but ultimately this will usher in the era of Uber Real Estate.
Simply put, its a win win for everyone: Vendors, MLS, Brokers, Agents, and third party developers.
What it literally means, well that is still being defined. The RESO Certification Workgroup has been busy identifying what being a Compliant MLS means. Such as, the tests that the vendors need to pass to be a compliant product, and the tests/criteria that must be met to be a certified-compliant site (MLS). There will probably be much discussion regarding all this during the April 2008 RETS meeting in Philadelphia.
As always, I strongly suggest any MLS operator/vendor to attend these meetings, especially this one as where we will be a year from now, will be determined today. Don’t miss this chance to define your destiny!
Continue reading ‘June 2009: The Uber Era of Real Estate Data’
