RETS Overview What is RETS RETS background Value

RETS Overview What is RETS? RETS background Value proposition for real estate industry stakeholders Yogi Schulz File: 03_AEI_Overview. PPT 1

Topic Objectives RETS Overview Build familiarity with RETS Understand RETS benefits Identify opportunities to employ RETS is delivering real benefits Yogi Schulz File: 03_AEI_Overview. PPT 2

What is RETS? Am IT Standard RETS Overview 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 Yogi Schulz File: 03_AEI_Overview. PPT 3

RETS Example Specification Text RETS Overview 7. 7. 3 Sub-queries This query language provides for a nesting of sub-queries. For example: Query=((AREA=|1, 2)|(CITY=ACTON)), (LP=200000+) Example: Query=(ST=|ACT, SOLD), (LP=200000 -350000), (STR=RIVER*), (STYLE=RANCH), (EXT=+WTRFRNT, DOCK), (LDATE=2000 -03 -01+), (REM=*FORECLOSE*), (TYPE=~CONDO, TWNHME), (OWNER=P? 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 3 rd and 4 th characters). ” Yogi Schulz File: 03_AEI_Overview. PPT 4

How do RETS Clients and Servers Interact? RETS Overview Query Realtor RETS client Search Result MLS RETS server Yogi Schulz File: 03_AEI_Overview. PPT 5

RETS Background RETS Overview 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 Yogi Schulz File: 03_AEI_Overview. PPT 6

What can RETS do? RETS Overview Yogi Schulz Login Authenticate end-user Get. Object Retrieve pictures/videos Logout End session Search Retrieve listings/offices/agents Get Retrieve a file Change Password Change end-user password Update Insert listings/offices/agents Get. Metadata Retrieve server metadata RETS 1. 0 functionality File: 03_AEI_Overview. PPT 7

RETS Value Proposition Realtors RETS Overview 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 Yogi Schulz File: 03_AEI_Overview. PPT 8

RETS Value Proposition MLS RETS Overview 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 Yogi Schulz and client conversion File: 03_AEI_Overview. PPT 9

Topic Summary RETS Overview RETS provides benefits to all industry stakeholders: – improved timeliness of data – reduced operating costs – improved revenue Time for Discussion Yogi Schulz File: 03_AEI_Overview. PPT 10

Innovative Tech Support RETS Overview Yogi Schulz File: 03_AEI_Overview. PPT 11