RETS Overview

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RETS Overview
New Topic

• What is RETS?
• RETS background
• Value proposition for real estate industry
  stakeholders

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TopicObjectives

• Build familiarity with RETS
• Understand RETS benefits
• Identify opportunities to employ RETS

RETS is delivering real benefits
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What is RETS?Am IT Standard

• Open standard for exchanging real estate data
• RETS is not closed or hidden
• A standard described in a document
• RETS is not software

RETS meets needs of real estate industry
stakeholders
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RETSExample Specification Text
7.7.3 Sub-queriesThis query language provides
for a nesting of sub-queries. For
exampleQuery((AREA1,2)(CITYACTON)),(LP2000
00) Example Query(STACT,SOLD),
(LP200000-350000),
(STRRIVER), (STYLERANCH),

(EXTWTRFRNT,DOCK), (LDATE2000-03-01),

(REMFORECLOSE),
(TYPECONDO,TWNHME),
(OWNERP?LE)Verbally,
this would be interpreted as return properties
with (ST equal ACT or SOLD) and (LP between
200000 and 350000, inclusive) and (STR beginning
with RIVER) and (STYLE equal RANCH) and (EXT
equal WTRFRNT and DOCK) and (LDATE greater than
or equal to 2000-03-01) and (REM containing
FORECLOSE) and (TYPE not equal to CONDO and not
equal to TWNHME) and (OWNER starting with P and
having LE in the 3rd and 4th characters).
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How do RETS Clientsand Servers Interact?
Realtor RETS client
MLS RETS server
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RETSBackground

• Development began in 1999
• Collaborative effort between NAR and a number of
  industry technology leaders
• Driven by need to make access to and transfer of
  MLS information easier
• Versions 1.0 and 1.5 of RETS have been adopted
  by
• most of the major MLS vendors
• many of the third party software providers
• major brokerages esp. multi-market firms

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What can RETS do?

• Login
• GetObject
• Logout
• Search
• Get
• Change Password
• Update
• GetMetadata

• Authenticate end-user
• Retrieve pictures/videos
• End session
• Retrieve listings/offices/agents
• Retrieve a file
• Change end-user password
• Insert listings/offices/agents
• Retrieve server metadata

RETS 1.0 functionality
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RETS Value Proposition Realtors

• Wider choice of clients
• MLS customers can use software that meets their
  specific needs and styles - happy customers
• Higher quality solutions
• Reduced license and support fees

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RETS Value PropositionMLS

• Makes data delivery more consistent and robust
• Reduces MLS staff effort therefore support
  costs
• Shortens elapsed time and lowers cost to fulfill
  customer in-house data requests
• Reduces MLS technical staff time consumed by
  third party developers
• Minimizes impact and disruption caused by change
• Reduces risk, effort downtime during MLS system
  and client conversion

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TopicSummary

• RETS provides benefits to all industry
  stakeholders
• improved timeliness of data
• reduced operating costs
• improved revenue

Time for Discussion
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