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The beginning of each year is an opportunity for plotting and strategizing a successful game plan, and February is a good month to turn plans into action. Read on to see what’s cooking at RESO, starting with an update from our board chair, Rebecca Jensen.

Message From RESO Chair, Rebecca Jensen

RESO Members,

We did it. We made it past the holidays, and now it’s back to work! To that end, I look forward to serving as board chair for RESO in what is anticipated to be another year of exceptional advancements in real estate industry standards.

Two major leaps forward are already underway.

  1. RESO’s certification testing and reporting platform will launch with upwards of 400 MLSs already having passed certification. As part of RESO’s updated certification procedures, technology providers will pass testing for one or more endorsements, such as Web API Core 2.0.0 or Data Dictionary 1.7, before sending notifications to their customers for review of their unique systems. An automated email to certification applicants will provide a link to review and approve results.

       Most providers have already passed testing in your markets, and you will receive emails from your MLS vendors with your results soon. 

  1. The RESO Data Dictionary 2.0 has passed its workgroup review and is headed to the Board of Directors for ratification. It will include new resources for associations, lockboxes and much more. As the dictionary update is finalized, further details will be shared in RESO publications and within the Data Dictionary wiki.

Looking forward, we are poised to see advancements in our identifier products in 2022.

The Unique Organization Identifier (UOI) will add a single, six-digit numeric ID per organization, in addition to the current setup of multiple, nine-digit alpha-numeric IDs being given by organizational function. Potential implementation implications will be discussed with member organizations using the UOI standard.

The Unique Licensee Identifier (ULI) is moving from the discussion, definition and data pilot phase to more of a development phase in 2022, continuing a multi-year attempt to solve one of the industry’s more frustrating pain points.

Finally, our popular Working with Real Estate Data (WWRED) course’s Business Module, also known as the RED-B designation, has added updates for 2022. We are also working on a WWRED Technical Module, or RED-T designation, to complement RESO’s initial successful educational offering.

At its heart, RESO is a standards organization that creates new products to make those standards easier to support while making the industry easier to operate within.

Thank you for your membership and participation!

Rebecca Jensen
Chair, RESO 2022 Board of Directors

Call for Presentations: RESO Tucson Spring Conference

The 2022 RESO spring conference will be held April 25–28 in Tucson, Arizona. It will be an in-person and livestream event. | VISIT EVENT SITE 

Registration is open, and we are accepting speaker requests. | REGISTER FOR ONSITE REGISTER FOR LIVESTREAM

We are looking for innovative speakers from companies that are doing interesting things with real estate data to fill out our agenda, especially with an eye toward standards that use workgroup content and RESO products such as the Data Dictionary, Web API and RESO’s identifiers (ULI, UOI, UPI).

If you or someone you know would be a good fit for our audience, please submit your request. | PRESENTATION REQUEST FORM 

Sponsorships: RESO Tucson Spring Conference

RESO events are intimate gatherings that put you at the table with the top minds in real estate to solve real problems for technologists and business professionals alike. Sponsorship at this event provides immense marketing value, boosting your brand reach and credibility in the industry, stating your intention to be a major player in the future of real estate tech.

Our sponsors gain access to our full attendee list that is packed with top executives and experts from the largest MLSs, real estate technology companies, brokerages and franchises. This event also offers unmatched opportunities to showcase sponsor companies and services before and during the conference.

Are you interested in becoming a RESO conference sponsor? Please contact suzanne@reso.org for more info.

Data Dictionary 2.0

In the January 2022 Data Dictionary Workgroup meeting, the group officially closed the comment period on Data Dictionary 2.0, creating the first major upgrade from the 1.0 versioning that made its way up to 1.7.

Why 2.0 rather than an upgrade from 1.7 to 1.8? The workgroups focused on major changes supporting interoperability for this version, including more emphasis on standards for lookups in addition to fields and resources.

Be on the lookout for an updated wiki with new fields, new lookups, the normalization of standard relationships within resources and much more.

This is a huge step forward for organized real estate, and we are grateful to our workgroup volunteers that have contributed so much of their time to this endeavor.

Certification Update

As of January 31, 2022, RESO is no longer performing Data Dictionary 1.7 testing. We are transitioning to Data Dictionary 2.0 for the rest of 2022.

MLSs should be watching for a notification that your vendor has completed your certification testing for DD 1.7. You will be able to review your certification report and accept the results at that time.

Data validation will be part of Data Dictionary 2.0, and MLSs must include this new layer of certification testing by August 31, 2022, with an IDX Payload Endorsement.

The process of data validation will be presented in future reporting on RESO’s new certification platform. What is advertised as “available” in an MLS system does not always match the output of actual data records, and we are helping data consumers understand exactly what they should expect from a data provider.

The process that produces the data availability report also performs a host of other much-needed tasks, including:

  • schema validation on each record
  • key and modification timestamp checks
  • count queries
  • successful replication of up to 100,000 records from each Data Dictionary resource to make sure that the data matches what’s advertised and that we can use standard queries to fetch records without errors

It’s an exciting time in RESO Certification, and we appreciate your support in getting us to this point.

Working with Real Estate Data Course Updated for 2022

A curriculum that started two years ago in an airport lounge in Tucson, Arizona, was released just last year. It has blossomed into a cornerstone of real estate technology education with approximately 300 students already having enrolled in or completed the course.

RESO’s Working with Real Estate Data (WWRED) online class has been receiving rave reviews from industry insiders and newcomers alike. The WWRED Business Module is the first stage of the course and carries with it a RED-B designation for those who complete it. | READ MORE 

 

LeadingRE’s Jessica Edgerton Appointed to RESO’s BOD

Jessica Edgerton has been appointed as a Board Advisor to RESO’s Board of Directors for 2022. Edgerton is EVP of Operations & Corporate Counsel at Leading Real Estate Companies of the World. She oversees technology, marketing, learning and development, preferred vendor relationships, and events. 

Edgerton brings a vast amount of industry experience and intelligence to RESO’s board. She previously served as Associate Counsel for the National Association of REALTORS®, working with the communications, conventions and technology teams. Her expertise in regulatory compliance, risk management and legal issues relating to the industry will bring great value to the organization.

 

New Members

Method Real Estate Advisors
Through an innovative approach, Method Real Estate Advisors combines competent and professional agents with proprietary technology to deliver 5-star service to each client. They are based in Roswell, Georgia.

MLS United
MLS United covers over 76% of the REALTORS® in Mississippi, providing members with more information and reports to better serve the community while offering innovative tools in one, easy-to-access, mobile friendly platform. It is owned by Northwest Mississippi REALTORS®, Central Mississippi REALTORS® and Gulf Coast Association of REALTORS®.

Nobul
Get the right agent and home that you want. Nobul is an open digital marketplace connecting home buyers and sellers to real estate agents with the mission of bringing transparency, choice, accountability and simplicity to the real estate industry through powerful innovative technology supported by real people.

Opteon
Opteon has been delivering same-day appraisals in Australia and New Zealand for more than 10 years. Now, they’re bringing same-day appraisals to the U.S. via new acquisitions like the appraisal firm, Valucentric. Seasoned appraisers use the latest technology and data to complete appraisals in the field.

Pleasant View Realty
Pleasant View Realty is a local, family-owned and operated real estate firm that proudly serves Sheboygan, Manitowoc, Calumet, Fond du Lac, Ozaukee and Washington counties in Wisconsin with offices in Plymouth and Kiel. Building relationships on trust is their way of doing business.

Revaluate
Revaluate is a data company that does lead generation, database building and segmenting. They specialize in creating highly efficient AI algorithms with machine learning that take data from many sources to make the seemingly impossible simple.

We’re glad to have these organizations as RESO members!

Three Questions

Three Questions is an interview series from RESO Director of Growth Management, Greg Sax, that introduces you to real estate industry professionals, their businesses and how they interact with real estate standards with a goal of humanizing the tech side of the industry, fun included. | VISIT THREE QUESTIONS

New interviews are released on most Fridays. Here are the entries that have been published since the last RESO Monthly:

Meeting Spotlight – Days in MLS Business Descriptions

With the completion of our Days on Market (DOM) Business Descriptions Subgroup and a new StandardDOM field in the works, we are going to move on to a subgroup to discuss a new standard Days in MLS (StandardDIM) field. There is a fair amount of background in the following links if you are not familiar with the project:

StandardDOM – Business Descriptions 
2021-10-19 DOM Call Notes 

In short, the group decided that StandardDOM was to be based on contract dates and StandardDIM would be based on system timestamps.

We are actively recruiting for the Days in MLS Business Descriptions Subgroup. Please post to the Data Dictionary Discussion Forum on the topic if you would like to join. | VIEW TOPIC

The first meeting will be held in February or early March.

RESO Workgroup Meetings

Unique Licensee Identifier (ULI) Subgroup | January 7, 2022
The ULI Subgroup welcomed new participants to the pilot from the San Francisco Bay Area and discussed current project goals. A white paper will be produced and presented at the RESO Spring Conference. | CALL NOTES

Transport Workgroup | January 10, 2022
The Transport Workgroup discussed the Usage Resource proposal, which is designed to support MLS data consumers getting additional instructions for usage of fields, previously in multiple separate data feeds, in a single feed. There was also a review of the Data Dictionary 2.0 Specification, a discussion regarding RESO Certification and expanded data elements, and a request for volunteers to chair the RESO Certification Analytics Focus Group. | CALL NOTES

Showing Subgroup | January 12, 2022
The group looked at the revised proposed showing data elements, discussed some changes and voted to approve the new Showing Availability, Showing Request and Showing Appointment resources. The completed sheet will be posted for a comment period prior to going to the Data Dictionary Workgroup for a vote. It is highly recommended that all showing system vendors and other interested parties review and comment during this period. | CALL NOTES

Internet Tracking Workgroup | January 19, 2022
The meeting was a brief overview of what was accomplished in 2021, updates on the ongoing work and review of the Internet Tracking Fields Google Sheet. Additionally, there was a vote to add two new lookup values to the InternetTracking Resource for WhatsApp and Microsoft Teams. | CALL NOTES

Data Dictionary Workgroup | January 20, 2022
The group discussed potential business and technical considerations involved in adopting a single data feed for data consumers. Changes coming to the Data Dictionary 2.0 worksheet and testing rules were reviewed and approved. | CALL NOTES 

Certification Subgroup | January 20, 2022
The Certification Subgroup continued the discussion of whether expanded resources may be recognized in lieu of their being available at the top level, for example accessing Media through the Property Resource rather than Media Resource. The remainder of the meeting focused on a local extension to support local data elements in a more predictable and consumer friendly manner. | CALL NOTES

Distributed Ledger Workgroup | January 25, 2022
The group discussed Web 3.0 and blockchain and how these things might take shape within the real estate industry. As this was the first meeting of 2022 after a lengthy delay, previous and ongoing work items were reviewed. There were also two guest presentations about blockchain solutions and the Universal Property Identifier (UPI). | CALL NOTES

Universal Property Identifier (UPI) Workgroup | January 26, 2022
The workgroup discussed collaboration efforts and strategies for the creation and maintenance of a successful and standardized UPI Registry followed by a conversation around the challenges that have been overcome and progressions made towards this goal. | CALL NOTES

Upcoming RESO Workgroup Meetings

  • Thursday, February 3: Research & Development
  • Friday, February 4: Board Liaison Committee
  • Monday, February 7: Transport
  • Tuesday, February 8: Cross-Platform Interoperability
  • Tuesday, February 15: Tax (Subgroup of Data Dictionary)
  • Wednesday, February 16: Internet Tracking
  • Thursday, February 17: Certification (Subgroup of Transport)
  • Tuesday, February 22: Distributed Ledger
  • Wednesday, February 23: Universal Property Identifier (UPI)
  • Thursday, February 24: Data Dictionary
  • Thursday, February 24: Broker Advisory