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VOW Implications for Organized Real Estate Mona Beckam – Allan Dalton Homestore

RETS Update Bruce Toback - RETS Working Group Steve Verba - Compliance Tester Mark Scheel - An MLS Perspective Kevin McQueen - Summary of 2003 Goals Q&A. VOW Implications for Organized Real Estate Mona Beckam – Allan Dalton Homestore. The RETS Working Group Organization.

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VOW Implications for Organized Real Estate Mona Beckam – Allan Dalton Homestore

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  1. RETS UpdateBruce Toback - RETS Working GroupSteve Verba - Compliance Tester Mark Scheel - An MLS Perspective Kevin McQueen - Summary of 2003 Goals Q&A VOW Implications for Organized Real Estate Mona Beckam – Allan Dalton Homestore

  2. The RETS Working Group Organization Bruce Toback, OPT, Inc.

  3. History • Started in late 1999 by NAR • “Skunk works” project • Several vendors, several MLS and/or association representatives, NAR • Published RETS 1.0 in October of 2000 Real Estate Transaction Standard

  4. Current Structure • Open membership • Membership determined by participation • About 40 people • About 20 entities (companies/individuals/associations) • Patterned after other Internet standards groups • Internet Engineering Task Force (IETF)Mortgage Industry Standards Maintenance Organization (MISMO) Real Estate Transaction Standard

  5. Current Operations • Meetings sponsored by NAR • Governance by consensus based on initial open meeting (May 2002) • Expect to become independent sometime in the future Real Estate Transaction Standard

  6. Current Process • Approximately three meetings/year • Change proposals submitted by any interested party • Change proposals must be approved by an 80% vote of those at a meeting Real Estate Transaction Standard

  7. Sausage Grinder • Workgroups meet via email and conference call between full meetings • Workgroups are responsible for detailed discussion and writing of proposals • Workgroup work product submitted to full group for approval when it directly affects the standard • Workgroup membership open to all Real Estate Transaction Standard

  8. Joining or Monitoring the Process • Central location for standards maintenance activity • Check the Workgroups page for most ongoing activity www.retsinfo.com Real Estate Transaction Standard

  9. Why Join? • Early notification of issues and features • Provide an end-user perspective on the standard • No need to wear ties at the meetings Real Estate Transaction Standard

  10. The RETS Logo Program Compliance Certification forRETS-enabled products and services

  11. The Problem SuperAgent! More listings!Faster sales!Sell more services!100% RETS Compliant! Real Estate Transaction Standard

  12. The Problem SuperAgent! What’s it mean? More listings!Faster sales!Sell more services!100% RETS Compliant! Real Estate Transaction Standard

  13. Other Industry Solutions • Wide variety of certification and logo programs • Everything from fully-insured to hope-for-the-best Real Estate Transaction Standard

  14. The RETS Solution • Independently-verifiable self-certification • Public access to verified certification via www.retsinfo.com • Verified certification available at semi-annual “plugfest” events • May eventually certify third-party testers to provide verified certification Real Estate Transaction Standard

  15. Kinds of Compliance • Client • Update • Search • Server • Site Real Estate Transaction Standard

  16. Independent Verificationfor Clients • RETS Verifying Server available • Open-source for local testing • Server operated by rets.org and other hosts • Verify a client by running against any available test server Real Estate Transaction Standard

  17. Independent Verificationfor Servers and Sites • Open-source RETS Compliance Tester • Can be run against any site • Can be run after metadata changes • Can be run by anyone with a logon to the server to be tested Real Estate Transaction Standard

  18. What does the logo mean? • Product or site in question passes the publicly-available tests • Intent of the tests is that a client product displaying a logo will communicate successfully with a server displaying a logo Real Estate Transaction Standard

  19. What doesn’t the logo mean? • Does NOT mean that a product will meet any particular need:you still need to evaluate functionality • Does NOT mean that a product is error free or produces accurate results:you still need to evaluate product quality Real Estate Transaction Standard

  20. The Future Solution SuperAgent! More listings!Faster sales!Sell more services!100% RETS Compliant! Yes! It works with our (compliant) MLS! Real Estate Transaction Standard

  21. What It All Means If you run a RETS logo-compliant server, your members/users can use any RETS logo-compliant client that meets their needs. Real Estate Transaction Standard

  22. About the Timetable • Work proceeding in the Compliance Workgroup on the compliance test protocols for clients and servers • Logo program legal framework in progress now • First logo certifications expected for the November NAR meeting Real Estate Transaction Standard

  23. Tracking Compliance Activity http://www.rets.org/workgroups/compliance Real Estate Transaction Standard

  24. RETS Compliance Tester Steve Verba Avantia, Inc.

  25. RETS – Compliance Tester V.1.1 • Provide a means to check for RETS compliance of any RETS server • Exercises core aspects of RETS Compliance checklist • Provides ability to see details of any compliance related failures • Written in Java • Code and documentation available at RETS-ORG site Real Estate Transaction Standard

  26. The “Run All Tests” button runs all defined tests. “Run Selected Scripts” brings up the following dialog from which you can select one or more scripts to execute.

  27. Real Estate Transaction Standard

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  30. RETS – Compliance Tester V.2.0 • RETS Upload Compliance Checking to be added   • Metadata Test Suite to verify proper use of Metadata • RETS 1.5 test upgrade to existing Compliance Tester (currently RETS 1.0) • Upgrade of Compliance Tester to test more of the Optional RETS requirements • New “user-friendly” RETS Requirements document • Available July 2003 Real Estate Transaction Standard

  31. R.E.T.S @ Metrolist Mark Scheel Metrolist, Inc.

  32. Summary • About Metrolist • RETS @ METROLIST • YESTERDAY • TODAY • TOMORROW • Concluding Remarks Real Estate Transaction Standard

  33. Metrolist, Inc. • Premier MLS in Colorado • 17,000 participants • 25-30,000 Active Listings • In business for 19 years • Goal: Share our participants data to third party vendors to increase their value • Not always easy Real Estate Transaction Standard

  34. Yesterday • Difficult to share data • Screen Scrapers, Customized Downloads • Third party providers needed custom code for each market – increased time to market and cost • Frequent changes to data consistently broke others software • Photos a nightmare (now have 2.5 photos per listing) Real Estate Transaction Standard

  35. Today • Late 1990’s – Early 2000’s • Developed first RETS server in the nation in 1999, interfaced with Intellitouch in 2000, in 2001 with Wyldfyre • By 2003 20+ clients connect to our server, servicing thousands of real estate professionals • Usage up 49% from January 2002 to 2003 • Superior photo functionality (2.5 per listing) • Easy to code in for developers Real Estate Transaction Standard

  36. Today (continued) • Changes are easier because Metadata is self documenting (data flexibility) • National standard, decreases barrier to entry for national vendors (no custom code), Increased competition from national vendors leads to better tools for our market / customers Real Estate Transaction Standard

  37. Tomorrow • Compliance - Logo program this year • RETS has taken hold, Plugfest event clarifies standard and improves compliance • Metrolist uses RETS internally for IDX data and CCM extracts • Involved in Homestore beta program Real Estate Transaction Standard

  38. Summary • About Metrolist • RETS @ METROLIST • YESTERDAY • TODAY • TOMORROW Real Estate Transaction Standard

  39. Concluding Remarks • Sharing data is important to us and our participants • RETS is a superior tool for data access & sharing • In 3+ years, has moved from infancy stages to mainstream • Metrolist involvement has led to earlier adoption, increased competition in our marketplace & ease of entrance to new players • RETS increases the value of our markets real estate professionals by making better tools more widely available to them Real Estate Transaction Standard

  40. Contacts • Bruce Toback – Working Group btoback@optc.com • Steve Verba – Compliance Tester, RETS Integration sverba@eavantia.com • Mark Scheel – Metrolist MLS mscheel@metrolist.com • Myron Adams – NAR madams@realtors.org • Kevin McQueen – questions, News, Marketing opportunities kevin@kevinmcqueen.com Real Estate Transaction Standard

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