RESO Analytics illuminates the current state of real estate technology marketplaces. Through detailed reports and visualizations on standardized and unique local data elements, this platform brings transparency to industrywide real estate information.
The technical capabilities, utilization, and performance of real estate’s largest data providers are certified and published on RESO Analytics. This information will drive interoperability and efficiency for Multiple Listing Services (MLSs), brokerages, technology partners, and real estate consumers.
“The RESO Analytics platform is the final piece of the puzzle in validating RESO standards. This platform will be the lens we look through to make informed data decisions for our company and for our industry.” – Dan Troup, the Director of Data Operations and Strategy, RE/MAX
Big Data, Broad Insights
MLSs aggregate broker listings into central locations. They make listing data accessible for the technology tools that brokers, agents and consumers use. RESO Analytics paints two new pictures of that MLS information.
1: A telescope view, showing how real estate’s data looks across the entire industry: this view creates opportunities for better information analysis tools that cross marketplaces and borders.
2. A microscope view, detailing the intricacies of each system’s data sets: this view allows individual technology providers to better understand how customers of their service see the information output.
“As one of the most-visited real estate sites in the U.S., Realtor.com helps millions of people put homes for sale or rent into context with features that are personalized to their needs. In that regard, RESO Analytics is a game changer. It will help sites like Realtor.com and others develop and evolve online search experiences that empower consumers with the information they need to succeed in today’s marketplace.” – Bob Evans, SVP of Industry Relations for Realtor.com
Users of real estate technology systems now have a platform to compare the different data capabilities of those tools. RESO Analytics reports deliver insights about technology alignment across MLSs, markets and vendor software platforms. Access to the trove of available RESO Analytics industry data will empower real estate business leaders to make informed, data-driven decisions about the technology they consume and share with customers.
RESO Analytics is not a grading system. It is a platform of information and insights to help the real estate industry ask better questions:
- How much of the RESO Data Dictionary is being used in current MLS systems?
- Which fields are aligned across the many MLSs that a broker works in?
- How well can this technology system service my company’s technology needs?
RESO Analytics reports on data fields (e.g., List Price and Lot Size) and pick list lookups (e.g., Status and Condition) will allow technology developers to build innovative products that scale more quickly across the industry. And they will help current technology providers tune their systems and provide even greater value for their customers.
Technology System Performance
Providers of certified RESO Web API services to MLSs are able to see their performance statistics on RESO Analytics compared to industry averages. This has resulted in greatly improved speeds, with some technology services accelerating their performance by 10X.
Where Does the Data Come From?
RESO only certifies Data Dictionary-compliant information coming from Web API services. This is where the industry alignment tools, aggregates and visualizations come from. It’s critical that the industry’s data insights come from certified, standardized data sets that show a true picture of the information surrounding the real property of consumers.
There are other MLS data sources in the industry, including older deprecated systems like RETS, that are not certified and generally unstandardized. These data sources will not be reported upon through RESO Analytics.
For data consumers to reap the benefits of standards and these new analytics insights, they must use certified data systems. The leading MLSs are moving 100 percent of their customers to Web API.
The Process for Getting Listed on RESO Analytics
- MLS software vendors test their systems approve certification reports for MLSs from within the RESO Analytics platform. At this point, an MLS is considered Passed.
- The vendor sends the reports to their MLS customer for approval. Upon approval, the MLS is considered Certified.
- Published reports are displayed at certification.reso.org for individual analysis.
At the same time, RESO runs meta-analyses on this data. The outcome will be industrywide aggregate reporting and visualizations that will guide technology providers toward data-driven decision making.
More RESO Analytics Tools
- Aggregate Service: Information about how many MLSs are using specific data elements from the Data Dictionary are live on the Data Dictionary Wiki
- Provider Alignment Tool: Alignment of MLS data across multiple API vendors (Q1 2023)
- Market Alignment Tool: Alignment of multiple MLS data sets in overlapping markets (Q1 2023)
- Consumer Alignment Tool: Alignment of multiple MLS data sets across different markets for data consumers, particularly brokers (Q3 2023)