Real Estate Standards Organization (RESO) is defined on their site as an“organization that develops, promotes and maintains, through an open process, voluntary electronic commerce standards for the real estate industry. As a standards-setting organization involving the participation of competitors, RESO is committed to full compliance with all laws and regulations and to maintaining the highest ethical standards in the way it conducts its operations and activities.”
What does this mean to agents?And how does MiRealSource being a Charter Member and being RESO certified help you as an agent? Well, NAR is making it a mandate for all MLSs to follow RESO’s guidelines so there is a standard across the real estate industry. This is in terms of data fields as well how they’re labeled and managed. RESO is a big movement to allow for data to be “plug in play” for sites, third-party programs, data sharing operations and more.
By MiRealSource being certified and a charter member since 2012, we are a serious supporter in standardized data. It also helps us to hold influence in the future of the industry. We're informed with helpful information as well as provide feedback to RESO, which allows our team to think of more out-of-the-box and innovative ideas as the real estate industry evolves.
RESO is also important for an agent’s day-to-day business because more and more companies share or move data; making multiple platforms cooperate and work together. The cooperation and standard is important because it can be very difficult or expensive if there is not a nationally recognized standard.