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RETS: Real Estate Data Exchange Standards

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winklerd
11 diapositives · 138 Views · Jan 04, 2020

Learn about RETS, an IT standard for exchanging real estate data, its benefits, and how it helps stakeholders in the industry. Explore RETS specifications and how clients and servers interact, along with the background and value proposition of RETS for real estate professionals.

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RETS: Real Estate Data Exchange Standards
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  1. RETS Overview New Topic • What is RETS? • RETS background • Value proposition for real estate industry stakeholders

  2. TopicObjectives • Build familiarity with RETS • Understand RETS benefits • Identify opportunities to employ RETS RETS is delivering real benefits

  3. What is RETS?Am IT Standard • Open standard for exchanging real estate data • RETS is not closed or hidden • A standard described in a document • RETS is not software RETS meets needs of real estate industry stakeholders

  4. RETSExample Specification Text • 7.7.3 Sub-queriesThis query language provides for a nesting of sub-queries. For example:Query=((AREA=|1,2)|(CITY=ACTON)),(LP=200000+)Example: Query=(ST=|ACT,SOLD), (LP=200000-350000), (STR=RIVER*), (STYLE=RANCH), (EXT=+WTRFRNT,DOCK), (LDATE=2000-03-01+), (REM=*FORECLOSE*), (TYPE=~CONDO,TWNHME), (OWNER=P?LE)Verbally, this would be interpreted as “return properties with (ST equal ACT or SOLD) and (LP between 200000 and 350000, inclusive) and (STR beginning with RIVER) and (STYLE equal RANCH) and (EXT equal WTRFRNT and DOCK) and (LDATE greater than or equal to 2000-03-01) and (REM containing FORECLOSE) and (TYPE not equal to CONDO and not equal to TWNHME) and (OWNER starting with P and having LE in the 3rd and 4th characters).”

  5. How do RETS Clientsand Servers Interact? Query Search Result Realtor RETS client MLS RETS server

  6. RETSBackground • Development began in 1999 • Collaborative effort between NAR and a number of industry technology leaders • Driven by need to make access to and transfer of MLS information easier • Versions 1.0 and 1.5 of RETS have been adopted by: • most of the major MLS vendors • many of the third party software providers • major brokerages – esp. multi-market firms

  7. Login GetObject Logout Search Get Change Password Update GetMetadata Authenticate end-user Retrieve pictures/videos End session Retrieve listings/offices/agents Retrieve a file Change end-user password Insert listings/offices/agents Retrieve server metadata What can RETS do? RETS 1.0 functionality

  8. RETS Value Proposition Realtors • Wider choice of clients • MLS customers can use software that meets their specific needs and styles - happy customers • Higher quality solutions • Reduced license and support fees

  9. RETS Value PropositionMLS • Makes data delivery more consistent and robust • Reduces MLS staff effort & therefore support costs • Shortens elapsed time and lowers cost to fulfill customer & in-house data requests • Reduces MLS technical staff time consumed by third party developers • Minimizes impact and disruption caused by change • Reduces risk, effort & downtime during MLS system and client conversion

  10. TopicSummary • RETS provides benefits to all industry stakeholders: • improved timeliness of data • reduced operating costs • improved revenue Time for Discussion

  11. InnovativeTech Support