Real Estate Standards Organization (RESO) Holds Fall Meetings in Chicago, Ill.

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The Real Estate Standards Organizations (RESO) held its Fall Meetings on Sept. 5-6 at the headquarters of the National Association of Realtors (NAR®) in Chicago.

The Real Estate Standards Organizations (RESO) held its Fall Meetings on Sept. 5-6 at the headquarters of the National Association of Realtors (NAR®) in Chicago. The Fall Meetings drew 77 registrants with many of the attendees representing RESO Charter Member organizations.

RESO is a recently incorporated 501 (c)(6), not-for-profit trade association committed to delivering proficient data standards to the real estate industry. The RESO goal of making it easier for Realtors® to conduct business by creating universal MLS standards that eliminate redundancies, foster innovation and increase data analysis was a theme throughout the conference. Since incorporating in November of 2011, RESO has gained 63 Charter Member organizations.

“We are very excited about the outcome of the 2012 Fall Meetings. RESO workgroup leaders noted a marked excitement in the sessions and many individuals volunteered to continue participating in RESO’s efforts. I believe this represents a new move forward for RESO and for the real estate standards industry,” said Rebecca Jensen, RESO chair and CEO at UtahRealEstate.com.

The RESO Fall Meetings are technical workgroup focused meetings designed to be a driving force in the real estate transaction industry. The majority of attendees who participated in a survey evaluated the workgroup sessions as the most valuable part of the two-day conference. Transport, Data Dictionary, Syndication, and Compliance are the four RESO technical workgroups that provided the backbone of the Fall Meetings.

The Transport workgroup established essential framing for the future of real estate data transport with initial emphasis on residential listings and a RESTful API model. The Transport workgroup will continue to compare industry API’s to ensure all common use cases are defined and follow-up topics will include authentication and security. Scott Petronis, RESO Transport Workgroup Chair and vice president of Onboard Informatics, presided over the session.
The Data Dictionary 1.0, RESO’s newest work product, is a critical piece in driving the adoption and use of the Real Estate Transaction Standard (RETS), a protocol used by many MLS data exchange service providers for the exchange of real estate data. Rob Larson, RESO Data Dictionary Workgroup Chair and CIO of CRMLS, led the Data Dictionary technical workgroup meeting. The workgroup processed an impressive 26 change requests for the Property resource and began the framework for the Contacts and Roster resources which are expected to be completed by spring 2013. The Data Dictionary workgroup receives active input from the MLS industry community and is rapidly expanding to monthly calls and a December in person meeting.

The RETS Syndication workgroup outlined the widespread use of the RETS Syndication XML listing feeds and its convergence with the Data Dictionary. The group will release an new version of the schema near the end of October 2012 that reflects the convergence efforts which can be made in the near term, and will evaluate all remaining fields in the current RETS Syndication Schema over the next six months. James Martin, RESO Syndication Workgroup vice chair and Senior Engineer of ListHub, led the session.

The Compliance Workgroup reviewed the latest draft of the new RESO Certification Program which outlines how compliance testing will be conducted and the policies and procedures to integrate the functions into the broader RESO organization. Session attendees helped to solidify some of the more complicated portions of the program, including Logo usage, testing fees, communication of results and levels of compliance. Chip McAvoy, RESO Director, Compliance chair and VP of Corelogic, led the Compliance workgroup session during the Fall Meetings.

Jensen and Rob Overman, RESO Treasurer and founder of nōshun software, presented the RESO business update. RESO business topics included a sneak preview of the new RESO website, legal updates with regards to the Intellectual Property Process and discussion of commercial standards development in partnership with OSCRE. RESO Director and Technical Subcommittee Chair Chad Curry, director of the Center for Realtor Technology NAR®, presented a general session on the Workgroup Process Review. Overman also provided updates on Research and Development.

    The next RESO Technical Meetings will be held in Spring 2013.

About the Real Estate Standards Organization (RESO)
The vision of the Real Estate Standards Organization is to promote and enrich accepted data standards and processes utilized by all professionals in the fully automated real estate transaction through the Real Estate Transaction Standard (RETS). RESO focuses its efforts toward providing an environment for the development and implementation of data standards and processes that facilitate innovation, ensure portability, eliminate redundancies and obtain maximum efficiencies for all parties participating in the real estate transaction. The National Association of Realtors® (NAR®) has been a primary contributor of intellectual property and financial support to RESO since its inception as an all-volunteer body in 1999. RESO incorporated in November 2011 as an independent, not-for-profit trade organization. The RESO membership currently resides at 63 members including NAR®, multiple listing services, real estate associations and industry technology providers.

For more information about RESO, please call 919-459-2070 or visit http://www.rets.org.
RESO is managed by IMI Association Executives, a Morrisville, N.C.-based association management firm. For more information, visit their website at http://www.imiae.com.

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Travis Wright, executive director

Rebecca Jensen, chair
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