This Month’s Highlights
- Letter from RESO Chair Rebecca Jensen, Outlines the Rest of RESO’s 2024
- Letter from RESO CEO Sam DeBord Outlines RESO’s Use and Protection of Member Data
- RPR Offers Grants to Four First-Timers to Attend RESO Conference
- Conference Season is Near, and RESO is Heavy in the Mix
- RESO Common Format (RCF) Offers Certification for Brokers
- First Two Add/Edit Certifications Awarded
August’s RESO Monthly is Sponsored By:
2nd International MLS Forum Dramatically Scales Up
The highly anticipated event will take place in Milan, Italy, October 7–8, 2024.
REGISTER | VISIT THE EVENT WEBSITE | READ MORE
Connect with RESO’s unmatched membership of industry leaders across all real estate disciplines. The RESO Monthly and RESO Product Updates include one sponsor each month. Secure your spot by contacting advertising@reso.org.
Letter from the RESO Board Chair
Dear RESO Community,
We have crossed the midpoint of this dynamic year, and I am happy to share some remarkable developments with you. As Chair of the Board of Directors for RESO, I have witnessed our organization’s unwavering commitment to forward progress, collaboration and innovation.
Content Production and Product Releases
RESO is on an incredible run! Our teams have been working tirelessly to produce valuable content and roll out game-changing products, such as:
RESO Common Format (RCF): Take part in the standardization of data transport between vendors, including integrations by vendors into brokerage technology platforms in a lightweight manner.
RESO Alignment Reports: An invaluable resource to assist with data shares, vendor relations and industry cohesiveness: a new white paper, case study and presentation at the RESO Fall Conference in Frisco, Texas, will describe how alignment reports will positively shape your business outcomes.
Working with Real Estate Data: Our successful RED-B (Business) course received its first big update in three years. Updates account for new products like RESO Analytics and recent changes that have occurred in our industry, like the NAR requirement to provide a broker back office data feed, information about the Participant Data Access Policy (PDAP) and the removal of offers of compensation from some MLSs. Also, RED-CA (Canada) is slated for release this year.
Workgroups and Subgroups: Our data harmonization efforts continue to gain momentum in groups that have created new resources for rental properties, commercial properties and the buildings that house individual units. Consistent terminology, standardized fields and seamless data exchange – these are the building blocks of a more efficient industry. Kudos to our dedicated contributors!
New Endorsements: In addition to RCF, we are seeing our first wave of certifications for Add/Edit, EntityEvent/Webhooks and Validation Expressions. You can read more about each of these initiatives on RESO’s GitHub, which serves as the home for Transport Workgroup specifications. | VISIT RESO’S GITHUB
Upcoming Conferences: Mark Your Calendars!
International MLS Forum in Milan, Italy | October 7–8 2024
Ciao, Milano! I am excited to attend my first International MLS Forum to explore cross-border data collaboration, learn more about international best practices and forge new partnerships. | LEARN MORE
RESO Fall Conference in Frisco, Texas | October 22–24, 2024
A vibrant heart of activity in the Dallas–Fort Worth area awaits us in Frisco. Our Fall Conference promises new demonstrations, deep dives into standards and exceptional networking opportunities. We’re actively seeking speakers for our show. Please inspire us with your proposals! | LEARN MORE
Our conferences are about connections as much as they are about sessions. Whether you’re a seasoned RESO veteran or a first-time attendee, these events offer unparalleled opportunities to collaborate, share ideas and shape the industry’s future.
I hope to see you in Frisco and/or Milan – two cities full of energy that are well-prepared to celebrate our progress. Together, let’s unlock new horizons.
Warm regards,
Rebecca Jensen
Chair
2024 RESO Board of Directors
Letter from the RESO CEO
In the next few months, RESO will unveil several research and reporting resources, including:
- A white paper on the state of data sharing and alignment in the industry
- A case study on using the Data Dictionary and RESO Analytics reports to facilitate software choice and competition
- RESO’s complimentary Industry Alignment Reports and premium Provider Alignment Reports and Market Alignment Reports
These advancements provide an opportunity to review RESO’s role in safeguarding your data and reporting on standards compliance and related capabilities. | READ MORE
Registration Open for RESO 2024 Fall Conference
The conference will be held at the beautiful Omni Frisco at the Star, October 22–24 with an opening reception on the evening of October 21. | REGISTER TODAY
Present your standards-driven concept to representatives from prominent MLSs, real estate tech companies and brokerages. Deadline: September 2, 2024. | SPEAKER REQUESTS
RPR Announces Grants for First-Time Attendees to RESO Conferences
The RPR Connections Grant in Memory of Kristen Carr
Realtors Property Resource® (RPR) has created a grant program covering registration costs for the 2024 Fall Conference for four new members wanting to attend a RESO conference for the first time.
“Kristen was an invaluable part of the RESO family. Kris believed in community and inclusion. She loved encouraging new members to add their expertise to the tapestry of the RESO mission. She stressed the importance of data standards and their positive effect on the real estate industry. Nothing made her happier than seeing someone who was as excited to learn as she was.” – Jeff Young, COO/GM, RPR
Product Updates
Data Dictionary
Add/Edit with Media Fields – The following additions and changes were approved for the Media Resource in order to support the Add/Edit with Media specification:
- MediaStatusDescription (New String Field)
- Change the existing MediaStatus field from “Open” to “Open with Enumerations” and add the following lookups:
- Incomplete
- Processing
- Deleted
- Rejected
- Complete
UPI v2.0 Fields
The following fields were approved to support the next version of the Universal Parcel Identifier (UPI, note the updated naming):
- UniversalParcelId
- CountrySubdivision
- ParcelSubcomponent
Approved a new Appliances lookup named Refrigerator with Ice Maker.
Reminder: RESO Certifies Brokers and Their Vendors
RESO Common Format (RCF) empowers brokerages and their website vendors, CRM providers, lead generation portals and back office tools to all talk to each other with data packaged in a simple, well-organized format. It keeps the broker’s data accurate and consistent across systems.
The business value is straightforward. Much like we expect our mail system to use orderly addresses: name, number, street address, city, state/province and postal code, RCF shows how to organize property data for easy readability by any technology system.
The gates have been opened for brokerages and brokerage vendors to become certified by RESO, and Placekey is the latest organization to achieve RCF certification. Contact dev@reso.org to find out how to get started. | LEARN MORE
New Members
We are just scratching the surface with AI in real estate, and we are happy to invite two new AI-driven member companies to our ranks.
Ethica AI
Ethica uses AI to to help prospective buyers find and purchase homes by creating a personal profile that is matched to available listings. The more you share about yourself over time, the more personalized each listing becomes.
Kukun
Kukun leverages AI to grow home equity, empowering homeowners and investors to profit from advanced home intelligence.
Welcome to RESO!
RED-B
2024 Updates
Timely industry updates have been added to our Working with Real Estate Data – Business (RED-B) course. If you have not signed up for the course yet, this is an excellent opportunity to receive up-to-the-minute education. | READ MORE
RED-B courses bring real estate industry newcomers and veterans alike together on a journey of data flow through organized real estate. | LEARN MORE
RESO@
August 2024
RESO will be back in Chicago at the Leadership Summit and iOi Summit, both hosted by the National Association of REALTORS®.
6th Annual iOi Summit, August 28–29, 2024
Proptech leaders, futurists, investors and forward-thinking real estate professionals will gather to drive transformation in real estate. The iOi Summit provides an intersection for technology and real estate to interact. The summit will cover topics such as 3D printed homes, digital twins in commercial real estate, the latest advances in fintech and the popular Pitch Battle presented by Second Century Ventures. Register now for $250 off with code: IOI499. | LEARN MORE
September 2024
We will also be back in Las Vegas for Blueprint, September 17–19, and in Seattle for the Council of Multiple Listing Services annual conference, CMLS 2024, September 23–25.
Three Questions
Three Questions is back from its annual summer hiatus. Watch for new entries on Fridays!
The Three Questions interview series introduces you to real estate professionals with a hint of personality and humor.
Recent Entry:
VISIT THE THREE QUESTIONS ARCHIVE
RESO Workgroup Meetings
Transport Workgroup | July 1, 2024
An update on a schedule of items related to Data Dictionary 2.1 was provided. Several items require action from the Data Dictionary Workgroup. Posts outlining needs and requirements will be made to that workgroup’s Discussions Forum. A motion passed to remove the leading zeros from the RCP numbering system. The group was informed of changes coming to the Data Dictionary reference sheet and wiki with the release of version 2.1 in order to support the Model Resource and RelatedLookup Resource. | NOTES
Interoperability Workgroup | July 9, 2024
The group continued to tag fields for the Offer Management (OM) payload on the Payload Samples spreadsheet. Most resources were covered; Property Resource needs to be completed before sharing with the Data Dictionary Workgroup. AMS User Stories for Best Practices was shared, and the group will create a similar document for OM once the tagging exercise is complete. | NOTES
Research & Development Workgroup | July 11, 2024
The group went over business cases in an on-hold status. New Construction Data Fields and Licensee Display Rules were reactivated, while others were left on hold or were canceled. Additionally, an update on the Unique Licensee Identifier (ULI) was given. ULI is on the RESO 2024–2025 Product Roadmap and is in progress with the Transport Workgroup. | NOTES
Fast Track Subgroup | July 16, 2024
The remaining lookups for all tabs (fields) of the Suggested Mappings sheet were reviewed, and a motion passed to approve all mapping suggestions, pending a few specific changes. A motion to ignore Cottage under ArchitecturalStyle and suggest it as a new lookup to the Data Dictionary Workgroup passed. The Potential Additions and Changes sheet was presented, which shows lookups with more than ten implementations but no suggestions. | NOTES
Internet Tracking Workgroup | July 17, 2024
The group discussed potential new tracking use cases and data elements that may be needed to convey the metrics. The concept of being proactive with adding new data elements was contrasted with waiting until needs and requests for new elements pop up. An update was given on U.S. state-based privacy legislation. | NOTES
Data Dictionary Workgroup | July 18, 2024
Three proposals were approved:
- A field, lookups and field attribute change to support the Add/Edit with Media specification
- Three new fields to support UPI v2.0
- A new lookup named Refrigerator with Ice Maker under the Appliances field.
The Payloads and Rolling Releases initiative being undertaken by the Interoperability Workgroup was covered, and the group was encouraged to review the Waterfront Subgroup Proposal for a vote at the next meeting. The Request for New Geocode Fields was pulled back and will be revised to be less specific and to not mention particular geocode service providers. | NOTES
Rental Subgroup | July 22, 2024
The group reviewed the field and lookup recommendations as shown on the Rental Subgroup Recommendations spreadsheet, focusing on the Pets topic. The group determined that it would be best to utilize the existing PetsAllowed field over creating a new field and to add two new lookups for Birds OK and See Remarks. | NOTES
Universal Property Identifier (UPI) Workgroup | July 24, 2024
An update on the URN-based UPI v2.0 that was recently approved by the Data Dictionary Workgroup was provided, as well as updates on the UPI Builder and a forthcoming UPI Implementation Guide. | NOTES
Waterfront Data Elements Subgroup | July 30, 2024
The group further discussed the previously approved Proposal 1, specifically the structure that will be used to implement the fields and lookups. Considerations for the impact of the changes on data providers was discussed, including ways to alleviate the severity. A motion was approved to add the new fields and lookups as a complex data type or “shape” (new to Data Dictionary version 2.1) named WaterBody along with a planned deprecation of the WaterfrontFeatures field in version 3.1. WaterfrontFeatures will remain active alongside WaterBody until then. | NOTES
Upcoming RESO Workgroup Meetings
If you want to participate in any of the following recurring workgroup or subgroup meetings, it’s never been easier to do so. | JOIN A RESO WORKGROUP
- Aug 13: Interoperability
- Aug 15: Data Dictionary
- Aug 15: Certification
- Aug 20: Fast Track
- Aug 27: Waterfront Data Elements
- Aug 28: UPI
- Sep 03: Transport
- Sep 05: Research & Development
Certification Update
Congratulations to the following organizations for achieving their Web API Add/Edit 1.0.0 and RESO Common Format (RCF) 2.0 endorsements. Results are viewable in RESO Analytics.
Add/Edit: Perchwell and Triangle MLS
RCF: Placekey
Questions about RESO certification should be directed to your MLS vendor. Questions about self-testing or the technical aspects of certification may be directed to dev@reso.org.
