LuxuryRealEstate.com Joins Real Estate Standards Organization (RESO)
Posted by Who’s Who in Luxury Real Estate — August 10, 2015
SEATTLE, WA USA – Who’s Who in Luxury Real Estate and LuxuryRealEstate.com has joined Real Estate Standards Organization, or RESO, a group of real estate professionals working on bringing standardization to all aspects of the modern real estate world, from brokerages to MLS’s to portals and in every corner of the industry. By adhering to the same data standard throughout all aspects of the real estate community, RESO aims to make syndication and transactions seamless between different systems – a crucial task in the current technology-driven real estate industry.
Who’s Who in Luxury Real Estate endeavors to stay up-to-date on all real estate matters, so the inclusion of RESO to their arsenal situates LuxuryRealEstate.com at the epicenter of modern real estate technology, making it easier for members of the Who’s Who network to take advantage of these technological real estate tools. As LuxuryRealEstate.com joins the ranks of RESO, it will also offer its own breadth of resources to the organization to help create a better, more seamless world for real estate professionals in the United States and Canada as well as internationally.
With more than 150 active members, including NAR, multiple-listing services, real estate associations, brokerages, and industry technology providers, RESO is a driving force in the real estate realm. Striving to provide an environment for the development and implementation of data standards and processes that facilitate software innovation, ensures portability, eliminates redundancies and obtains maximum efficiencies for all parties participating in real estate transactions, RESO is most notably responsible for the creation of the Real Standard Transaction Specification (RETS) framework used by the real estate industry to facilitate the exchange of data, as well as the Data Dictionary that specifies a common language and terminology for said real estate data.
The organization continues to create a standardized way both to connect two different listing systems while also setting a standardized set of terminology once the connection is made – two efforts that are becoming more and more vital as the real estate world continues to progress in the digital age.
“I’m thrilled to be getting involved with RESO, an organization that has already given the real estate industry so much,” says Michael Edlund, Senior Director of Interactive Media for Who’s Who in Luxury Real Estate, who will be included in RESO’s Data Dictionary and Research & Development workgroups. “The real estate industry is one of the most interconnected industries in the world, with listing data being passed around brokerages, real estate boards, syndication companies, real estate portals and other involved organizations. This continues to present challenges because of different data formats and information that get lost in translation between systems. The importance and impact of RESO’s work to make sure all involved parties use the same agreed-upon real estate data standard simply can’t be overstated when it comes to future innovation in our industry.”
"Brokerage participation within RESO is key to successfully developing standards that will provide efficiencies and aid technology innovation," says Jeremy Crawford, Executive Director for RESO. Crawford adds, "Bringing multiple listing services, technology vendors and brokerages together fosters the creation of standards which can benefit all parties involved across the entire real estate industry."
The Real Estate Standards Organization's (RESO) mission is to create and promote the adoption of standards that drive efficiency throughout the real estate industry. RESO incorporated in November 2011 as an independent, not-for-profit trade organization having functioned previously as a section of the National Association of REALTORS®. The RESO has more than 100 active members including NAR, multiple listing services, real estate associations, brokerages and industry technology providers. For more information, visit www.reso.org.
LuxuryRealEstate.com, a Webby Award Honoree, has been voted ‘Best of the Web’ by Forbes magazine multiple times, praised by the International Herald Tribune, Town & Country, The Wall Street Journal and has been ranked ‘Best Website’ by consumer surveys. Since its debut in 1995, LuxuryRealEstate.com has remained the #1 portal for luxury properties on the internet and has several times more $1,000,000+ content of any near-peer.
Known in the industry since 1986 as the Who’s Who in Luxury Real Estate network, a global collection of the finest luxury real estate brokers in the world, this group of more than 130,000 professionals in more than 85 countries collectively sells in excess of $190 billion of real estate annually. Members are selected by Chairman/Publisher John Brian Losh, one of REALTOR Magazine's 25 Most Influential People in Real Estate and broker of fine properties and estates through his Seattle-based brokerage firm, Ewing & Clark, Inc. Luxury Real Estate has been recognized by the Webby Awards, has received “Best of the Web” by Forbes Magazine, honored with an ADDY Award for Excellence in Web Design, deemed “Best Website” by consumer surveys, ranked in the Inc. 5000 List, noted as one of the 100 Fastest Growing Private Companies by Puget Sound Business Journal, and recognized by the Maggie Awards.