Real Estate Central

WASHINGTON, May 16 /PRNewswire-USNewswire/ — Today’s handheld
technologies and wireless networks are changing the way Realtors(R) are
doing business, enabling them to stay productive and connected with
clients, even when they aren’t in the office.

That’s according to experts at the Technology & Information Systems
Forum held during the National Association of Realtors(R) Midyear
Legislative Meetings & Trade Expo, here through Saturday.

“I like to say real-time is the only time. Real estate is a
relationship business, but Realtors(R) are mobile agents and require timely
and easy access to information and communications even when they aren’t in
the office,” said Realtor(R) J. Lennox Scott, liaison to NAR’s Business
Technology and Information Systems Forum. “Clients want that access and
timeliness as well, confirming that real-time technology and information
support the client-agent relationship.”

“Consumers have embraced the timeliness and convenience of the
Internet, and when it comes to real estate, they want access to a variety
of real estate information at anytime of the day,” said panelist Mark
Lesswing, NAR chief technology officer and senior vice president.
“Real-time is about improving the flow of information between MLSs,
Realtors(R) and consumers, with the end goal being increased customer
service.”

Panelist Errol Samuelson, president of Realtor.com(R), believes that
within the next decade more people will access the Internet through mobile
devices than through personal computers, making broader wireless access and
handhelds with increased capabilities the wave of the future.



According to Samuelson, 11 percent of the general population has a
Smartphone; however, that number is nearly three times higher among real
estate professionals, and it’s not just young professionals taking
advantage of the technology. “In fact, six in 10 real estate professionals
who use Smartphones have been in the business for longer than five years,”
said Samuelson. “In the future, I see an explosion in the sophistication of
handheld devices and online video technology. This will make it easier for
Realtors(R) to stay in touch with their clients and for consumers to access
listing information.”

NAR’s Center for Realtor(R) Technology is also working to improve the
flow and exchange of real estate listing information. CRT and other
industry groups are active members of the Real Estate Standards
Organization, which governs the standards development, promotion, and
maintenance activities of the Real Estate Transaction Standard.

RETS, an industry effort initiated by NAR and maintained by RESO, is an
open data standard for exchanging real estate transaction information
between authorized parties. RESO currently supports a RETS listing standard
and a syndication standard; while the two share a common XML-based data
layout, they are different.

The RETS listing standard allows brokerage companies and MLSs to easily
and securely transmit, access, and share property listing information on
the Internet.

“Partnering with MLSs on the adoption of real estate standards improves
the exchange of information and other collaborative efforts, lowers costs
and improves security,” said Lesswing. “RETS allows real estate
professionals to manage their listings in a number of systems and syndicate
those changes, saving time, energy and money. In the past, brokers who
belonged to multiple MLSs needed different programs to access each MLS.”

In November 2007, an NAR committee recommended that all
Realtor(R)-affiliated MLSs adopt RETS by June 2009. According to NAR’s 2007
MLS Technology Survey, an estimated 63 percent of all MLSs have already
voluntarily adopted the technology.

A RESO working group recently approved a draft standardized data format
for distributing real estate listing information. The syndication standard
simplifies the process of sending real estate listings to multiple
advertising Web sites such as Yahoo! or Google by not having to deal with
different data formats.

“Standardizing data formats makes it easier for Realtors(R) to feed
their clients’ property listings to multiple Web sites, which helps
increase visibility for their clients’ homes. Previously, if a Realtor(R)
wanted a home to appear on multiple sites they would have to manually enter
the listing on each site — if the price or other information changed, each
Web site needed to be updated individually,” said Lesswing. “The
syndication standard streamlines that process so Realtors(R) can feed and
update a listing on multiple Web sites all at once.”

Another key issue in 2008 is increased MLS data-sharing agreements,
which allow brokers to share their property listings information with other
participants and display listings from those participants on their own Web
sites. “MLS data-sharing agreements benefit brokers and agents working in
communities with multiple MLSs, as it eliminates the need for them to join
and pay fees for more than one MLS, or enter the same information multiple
times,” said Lesswing.

According to NAR’s survey of MLSs, one-third currently have reciprocal
data-sharing agreements, and more than one-half of MLSs that currently do
not have data-sharing agreements have considered forming one.

NAR’s CRT was established to provide technology leadership, guidance
and assistance for its members. CRT makes available informed industry
insight, research and open-source applications through its mission of
implementation, advocacy and information.

The National Association of Realtors(R), “The Voice for Real Estate,”
is America’s largest trade association, representing 1.2 million members
involved in all aspects of the residential and commercial real estate
industries.

Information about NAR is available at http://www.realtor.org. This and other
news releases are posted in the Web site’s “News Media” section in the NAR
Media Center.

REALTOR(R) is a registered collective membership mark which may be used
only by real estate professionals who are members of the NATIONAL
ASSOCIATION OF REALTORS(R) and subscribe to its strict Code of Ethics. Not
all real estate agents are REALTORS(R). All REALTORS(R) are members of NAR.



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Source: Real Estate Newswire