New Data Dictionary 1.7 Adds Spanish, Fuels Innovations with Key Updates
The RESO Data Dictionary is known as the real estate industry’s “Rosetta Stone” as it establishes a common language, allowing real estate information to be understood and translated between systems. RESO Data Dictionary – version 1.7 – adds vital updates, including an IDX (Internet Data Exchange) requirement and Spanish-language capabilities.
The IDX data standard for Broker Reciprocity has 219 fields related to the property. This new standard allows the same MLS property listing information from different MLSs to be delivered to brokers.
IDX is an essential tool for brokers, as it enables them the right to display each other’s listings on websites and mobile apps. This move solves a common problem that occurs when brokers are members of more than one MLS. Because the IDX information that brokers currently receive is not standardized, brokers must spend time and resources to “normalize” the property information they collect from different MLSs before using it. The new requirement is expected to be applauded by the brokerage industry, which has pushed for IDX standardization.
The Data Dictionary 1.7 update also mandates that MLS organizations must implement the RESO Data Dictionary on the RESO Web API to obtain certification for the new version. This certification combines the validation of a company’s system to structure real estate information to RESO standards and the ability to communicate the information to others through an Application Programming Interface (API).
The RESO Data Dictionary is available to more than 1.3 million members of Multiple Listing Services (MLSs) nationwide, mostly through a communication standard called RETS. RESO wants to see full MLS migration from RETS – a technology created in 1999 – to modernize how real estate information is communicated through current robust and responsive web API technology.
In layman terms, the transition to APIs will mean that more real estate agents and brokers will gain access to the most current and accurate data available, thus delivering the right information to their consumers.
The interest in RESO standards continues to grow globally. Firms in Canada and India are now using RESO standards, and interest is on the rise among international software development companies. The RESO Data Dictionary, which now includes Spanish-language fields, will serve Spanish-speaking countries. Including Spanish also responds to requests from brokers and agents to better serve their sellers and buyers in the U.S. Fifty-two million people comprise the U.S. Hispanic and Latino population alone, according to the U.S. Census, and it’s growing at four times the rate of the nation’s total population.
Other updates for Data Dictionary 1.7 include the addition of hundreds of new data fields to provide for information on real estate agent teams, open houses, social media sites, roster information, property history, saved searches, showing events and hundreds of pick list items related to property, members and offices.
Data Dictionary 1.7 also includes new fields for the RESO Unique Organization Identifier (UOI), a common method to give firms an identification number in the RESO ecosystem, as well as additional fields to track web user activity across the Internet.
An original pioneer of the Data Dictionary, which traces its roots to 2011, Data Dictionary Workgroup Chair, Rob Larson, said, “The dictionary is a living document and will continue to grow, but it’s exciting to reach this milestone. It’s taken the help of a lot of dedicated folks to get to where we are. But the implementation of this version by MLSs, brokerages and software technology firms will lead to the improvement of websites, mobile apps and other technologies, and we believe it will drive more innovation.”
RESO’s commitment to evolve its Data Dictionary and real estate standards is shown by its dedication to hold conferences, which hosts its in-person workshop meetings. Brokers, MLSs and technology firms are encouraged to attend future RESO conferences.
