The New England Real Estate Network, a regional MLS with more than 9,700 subscribers, and their former Director of Marketing & Communications, Meg Garabrant, were kind enough to work with RESO staff to put together a white paper with clear explanations and detailed examples of how they adopted the RESO standards for Green Verification (GV) and Power Production (PP) field collections.
As real estate data standards continue to become more comprehensive and mature, and as they gain adoption momentum in the marketplace, it is important that MLSs keep up. Similarly, as data elements such as green fields become more important to consumers who are making purchase decisions based on the information contained in those fields, it is important that there is a commonality to how that data is presented.
The presence of a common schema is critical for interoperability and technology advances in the marketplace. It can help reduce perceived risk for MLS members, provide more comprehensive data to the market, increase buyer confidence, shorten days on market, increase potential for a higher selling price, and provide critical information for the appraisal and financing of these properties.
