reso redux by travis wright
DESCRIPTION
Presentation at the RESO Conference at NAR Headquarters on Sept. 27, 2010TRANSCRIPT
Chicago, Illinois
The National Association of REALTORS®
Monday, Sept. 27, 2010
• Just a ‘warm-up’ to the main events
• No need to take notes
• Just listen to a few stories…..
Travis WrightExecutive Director
The Real Estate Standards Organization
If I Can’t Hear It, I Can’t Fix It
I Have Listened To….
• “Do we incorporate, when & how?”The BOD
• “Let’s do it this way, OK?”Work Groups
• “The organization that doesn’t exist!?”Blogs
• “WHAT are you guys doing?”Experts
• “If you don’t, we will!”MLS Execs
• “Doesn’t‘ RETS do it all already?”Brokers
• “What’s in the Member’s best interests?”NAR
www.ted.com
Golden Circle
Whole Brain Thinking
Travis’ WHY
My WHY
APPRECIATION
AFFILIATION
AUTONOMY
STATUSROLE
APPRECIATION
Acknowledgement of Merit In One's
Thoughts and Feelings
AFFILIATION
Treatment As a Colleague
AUTONOMY
Respect For One's Freedom of Decision
STATUS
Recognition of One's Standing
ROLE
Definition of One's Role As Fulfilling
The WHY’s of RETS
WHY of
RETS
NAR
SERVER VENDORS
CLIENT VENDORS
EXPERTSMLS
EXECUTIVES
REALTORS CONSUMERS
RESO ~ RETS Eco System
GOVERNANCEBoard of Directors
PROCESSWorkgroups
PRODUCTRETS Specification
FUNDINGShareholders
SERVERVendors
CLIENTVendors
EXPERTSConsultants
900MLS’
80,000Brokers
1,000,000REALTORS
60,000,000Consumers
4,000,000Listings
COMMUNITY150
NAR is the Sole
Share Holder
Share Holders
?
Share Holders
?
The Tech Work This Week
Do You Have a Dog in the Hunt?
Wish I Did..
So, What Has Been Revealed?
REALTORS are Perplexed
Real Estate
Vertical
1.1 M REALTORS
Annual Home
Sales: 3.8M
ASP: $182K
Median Income:
$36K
Local Dues: $190 M
NAR Dues: $88 M
MLS Dues: $580 M
Inventory: 4M &
12mo’s
Our Industry is Perplexed
• Uncertain economy and weak real estate markets
• MLS’ debate the merits of consolidation, revenue streams, data ownership and their ‘true role’
• Real estate brokers struggle to survive on narrow margins
• Realtors struggle to earn U.S. median income
• Everybody wants realty data for free
• Innovators want no barriers to innovation
• Thought leaders want their views adopted
• New business models and technologies continue to disrupt (Freemium)
• RETS is not all it could be
RETS Workgroup began informal meetings to discuss data standards for MLS industry.
2000
RETS 1.0
2002
RETS 1.01
2003
RETS 1.5
2007
RESO
(proposed)
2008
RETS 1.7.2
2010
RETS 1.8
(proposed)
Server Vendors
Marketlinx
LPS
Others
NAR
CRT
Mark Lesswing
Client Vendors
Realtor.com
Experts
Many!
Significant Contributions Have Been Made By…
Server & Client
Vendors
Members at Large
NAR ($4m+)
NAR-MLS Policy
Committee
Solid Results for RETS
MLS Adoption
60 M Uniques & 1.8 B minutes
Five Releases of RETS
June, 2010
But, Some Shortcomings…
• Technology advances faster than a volunteer organization can accommodate
• Progress is directly tied to resources:
– Volunteers members
– Volunteer governance body
– Financial support
• ‘Us’ vs. ‘Them’ impedes progress
• Unmet demands for data ‘types’ and faster, cheaper data updates
Governance & Funding Fell Short, Too
• RESO Governance Structure was proposed but never formally adopted
• 501 (c) 6 Incorporation has not occurred
• Non-binding agreement, used primarily as a governance guide by the BOD
• NAR agreed to fund the budget until other shareholders contributed 50%+
• Other ‘shareholders’ have not arrived
• Commercial real estate practitioners
• MLS Executives calling for the ‘complete standard’ of data names and values
• They say: “If RESO can’t, we will!”
• The COVE group of MLS’ has made contributions to the Standard this year
• Perhaps we create synergy with COVE, CMLS and other MLS executives?
• What is the COVE?
The COVE…at Santa Catalina Island
COVE MLS Members
COVE
462,000
Non-COVE
638,000 880+
MLS’
23
MLS’
Humble Suggestions
• Fully participate this week
• Use the whole brain, left & right
• Vote on RETS 1.8
• Think ‘modernization’
• Support the Commercial ‘85’
• Support the COVE ‘585’
• Meet the Candidates
• Network at the Reception & Happy Hour
• Enjoy Chicago!
Elected
1. Steve Clarke T (Systems Architect, Marketlinx)
2. Troy Davisson T(FBS-FlexMLS)
3. Mary Frances Adams B(TREND MLS)
4. Kristen Carr B(VP, Realtors Property Resource)
5. Paula O’Brien T(Owner, Ronin Technologies)
Appointed
1. Jason Normandin T
(Director, Center for Realtor
Technology)
2. Mark Lesswing B
(SVP/CTO of NAR)
1. Art Carter CEO, IRMLS
2. Pat Bybee CEO, Metro MLS
3. Jeremy Crawford CTO, Sandicor MLS
4. David Charron CEO, MRIS
5. Kathy Condon CEO, MLS PIN
6. Rebecca Jensen CEO, Wasatch MLS
7. Rob Overman VP, LPS Real Estate Services
• Candidates may campaign until Nov. 8, 2010
• Online voting period: Nov. 15-19
– ‘Eligible Voters’ will be notified by email
– Online procedures will be announced next month
• Results will be announced on or before Dec. 3, 2010
• Candidates may email Eligible Voters, post PPT’s to RESO.org, etc.