MAKING IT STANDARD

NAR and other members of a Real Estate Standards Organization working group recently approved a draft of a standardized data format for distributing property listings information on a large-scale basis. According to NAR Chief Technology Officer Mark Lesswing, "We are making it easier for Realtors to feed their clients' property listings to multiple real estate sites in one format, saving them time and money." The draft format will be implemented right away by many of the working group's members in a beta test, with a final draft, based on their feedback, to be issued at an August meeting. Under a mandate passed by NAR directors in November, all Realtor-affiliated MLSs have until June 2009 to embrace Real Estate Transaction Standards (RETS). Additionally, these MLSs must upgrade to new versions of RETS no more than 12 months after they're released.

Source: Inman News (04/14/08)
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