First American's Transaction Manager Receives Real Estate Transaction Standard 1.5 Certification

Posted by — May 15, 2005

First American's Transaction Manager Receives Real Estate Transaction Standard 1.5 Certification

First American Residential Group, Inc., has received the Real Estate Transaction Standard (RETS) certification for its newly created MLS Import feature of Transaction Manager, the company's online transaction management platform.

A widely adopted industry standard organized by the National Association of Realtors (NAR), RETS provides a common data exchange format for real estate listing information. First American's Transaction Manager is the first real estate transaction management platform to receive RETS certification, the company says.

The MLS Import feature of Transaction Manager allows users to import multiple listing service (MLS) data directly into Realtor transaction files. By using a RETS-compliant interface, Transaction Manager can rapidly integrate with MLS systems that have a RETS-compliant server, such as the browser-based Tempo system provided by First American subsidiary MarketLinx(R) Solutions. MarketLinx's Tempo system has been RETS certified since 2003. First American's RETS-compliant server will benefit MLS customers using any RETS 1.5 MLS system.

"Streamlining the transaction process is important for the future of real estate," said Mark Lesswing, vice president of NAR's Center for Realtor Technology. "Recognizing standards like RETS as an important technology enabler demonstrates First American's leadership in the industry. Innovative, RETS-compliant solutions like First American's Transaction Manager can be offered to our membership in a more cost-effective manner, benefiting all involved."

"We are proud to have the first transaction management platform to receive RETS 1.5 certification," said Stephen C. Roney, president and chief executive officer of First American Residential Group. "MLS data is central to the workflow process of the Realtor, and we are committed to providing the best integrated, most efficient and easiest to deploy and use solutions to our MLS partners and their members."

To date, First American has nearly 80,000 registered users on the Transaction Manager platform. For more information, visit http://www.firstam.com/residential

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