Download white paper here.
Access to data is important to what we all do. In real estate, having timely, relevant information matters. Recently, RESO, the Real Estate Standards Organization, is working on a specification for the RETS Web API (Application Programming Interface) standard and this is a very exciting initiative. RETS stands for the Real Estate Transaction Standard and it is the way data is transferred in real estate.
Mark Lesswing, CTO & SVP of ITS at NAR has worked to help develop this specification. He’s already done a lot of work with this new spec and has produced products for others to use in working with it was well. Mark’s work is part of the beginning of this new standard and has proven valuable to the understanding of the concepts for MLSs & vendors already. Mark’s written a white paper on why the RETS Web API matters and what it means for the industry, which can be downloaded here.
Why does this matter?
This paper focuses on the transfer of real estate data and the systems currently in place as well as the new RETS Web API. It’s intent is to show the efficiencies gained by using this new specification as opposed to the traditional FTP method used in today’s market. It is also meant to help anyone who is working with these concepts better understand how they work and what their intention is. The wonderful thing about using the RETS Web API is that it will also allow for a more secure data transfer with a mobile-centric focus, providing only the fields asked for and employing a system that understands more simply who is using what data.
This initiative is in its early days but is already proving to be a beneficial move for the industry. Proofs of concept have shown what it means with respect to ease of use and a more ‘plug-and-play’ approach. For members of NAR, this matters because it means the products you use from the MLS or vendors will become more responsive and it will allow for more products. For MLSs, this path will mean a more secure & cost-effective method for transferring data. It doesn’t require a ton of new equipment or resources to support.
Download the white paper here today. Thanks!