May
07

Midwest Real Estate Data First Charter Member of Real Estate Standards Organization

May 07, 2012

Midwest Real Estate Data (MRED), the Chicagoland multiple listing service (MLS), continues to be an innovator in the Chicagoland real estate market with the announcement that it is the first Charter Member of the Real Estate Standards Organization (RESO).

RESO is a group of real estate organizations working together to:

  • Develop and implement data standards and processes that support innovation.
  • Insure portability.
  • Eliminate redundancies and obtain maximum efficiencies for all parties participating in the real estate transaction.

RESO’s ultimate goal is a fully automated real estate transaction facilitated by data standards and processes accepted by real estate professionals everywhere.

The Real Estate Transaction Standard (RETS) is a common language spoken by systems handling real estate information, such as multiple listing services (MLSs).

Most of RESO’s work currently involves RETS and data definitions to be utilized within RETS. Standardization of data fields and ease of portability of data are of the highest priority to MRED and other MLSs for efficiency of data delivery and the minimizing of expense related to these activities.

“It is exciting to see all segments of the real estate industry work together to affect significant change,” said Rebecca Jensen, Board Chair of RESO. “Led by MRED, the first official Charter Member of RESO, more than thirty of the nation’s largest MLSs followed suit, as well as the National Association of Realtors® (NAR) and over a dozen vendors and consultants. Together, we have created RESO’s first Data Dictionary, which is a standard that will drive efficiencies and foster innovation throughout the industry.”

“It is a high priority to me and MRED leadership to support RESO and the work it is doing to create accepted data standards and processes,” added MRED CEO Russ Bergeron. “We are proud to be front and center in a leadership role showing our support for this organization and its very worthy mission and initiatives.”

Chicagorealestateforum congratulates Midwest Real Estate Data for continuing to be on the cutting edge of the real estate world.

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About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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