News: Member News

RESO Is Lighting Up $1 Billion In Savings For The Real Estate Industry

Wednesday, April 18, 2018   (0 Comments)
Share |

ARROYO GRANDE, California - What is the real business value of RESO Data Standards?  A new RESO case study about Homes.com sheds some light on the subject. Homes.com has proven that moving to standardized data and the RESO Web API is saving them thousands of dollars in development time, allowing them to redeploy that energy to more innovative endeavors.

Start-up companies like myTheo have already proven that launching new technologies with standardized data and leveraging the RESO Web API makes sense. myTheo saved 40% in development in the first market where they tried it. Read more in the RESO case study ”RESO Standards: Are they a Fairy Tale of the Future?

But what about established companies? They already have a patchwork quilt of RETS feeds in place. Legacy companies have already take the time and laborious effort to map data from more than 700 disparate markets and data sources. Each of these sources have different data fields, making the process of normalizing MLS data across hundreds of markets very labor intensive and inefficient.  

Homes.com set out to test the premise that leveraging the RESO Web API was a more efficient, reliable and cost-effective way to go. Through their tests in six different MLS markets with a variety of technology expertise and RESO certification levels, Homes.com was very encouraged to find that they saved over 90% in development time and costs by moving to the RESO Web API.

They also found out that they could implement the RESO Web API in as little as two hours per market or just $300. That means that a new innovative software company could offer their data-connected services in a market for well under $1000.

Download the RESO case study “RESO is Lighting Up $1 Billion in Savings for the Real Estate Industry” to learn more and evolve your solution to the RESO Web API as well.

 

*CMLS posts press releases and other items from member organizations and posting does not indicate endorsement. Please see posting guidelines here.