Bybee says Denver MLS system, Metrolist, leads in national data standards

BrokerIPTV: Today, we are talking with Pat Bybee, the president and CEO of Metrolist and Pat, welcome to the show.

Pat Bybee: It is a pleasure to be here.

BrokerIPTV: Today, we are going to be talking about real estate standards a little bit. I don't know that everybody knows what that means and we are going to talk about two acronyms in particular, RETS and RESO. Start with RETS.

Pat Bybee: RETS is... the term has been around for a while. It is for Real Estate Transaction Standard.

BrokerIPTV: Okay.

Pat Bybee: And RESO is the Real Estate Standards Organization. <read more>

BrokerIPTV: Okay. Now, how do those apply to Metrolist?

Pat Bybee: RESO is actually newly organized because the industry has been trying to develop real estate standards across the country and although good effort using MLS', MLS vendors, brokers, it just wasn't... we were not seeing the fulfillment of the promise. So, the RESO organization was started to give it a little more formality, board of directors, decision making capability.

BrokerIPTV: We have always had these standards in place. Now, RESO is kind of pushing compliance a little bit. Is that how it goes?

Pat Bybee: In a sense, yes. RETS has been around since the late '90s actually. Metrolist was the first MLS in the nation to be RETS compliant in 2000. So, it has been here. It just has been slowly... slow to adoption and until it is the predominant standard in the country, we are in a situation where there are 800 MLS' in the US.

BrokerIPTV: Wow. Okay.

Pat Bybee: Each of them has its own unique database structure and if you are a vendor of an application that the realtor might want, you have to write a custom solution for each MLS you work with.

BrokerIPTV: So, does Denver have a RESO so to speak?

Pat Bybee: No. In Denver, the use is RETS. RESO is a national organization.

BrokerIPTV: National organization and do they have some authority over what you do so to speak or do they just kind of make suggestions?

Pat Bybee: They make suggestions, which is why it was moving slowly.

BrokerIPTV: Yeah. All right. But if I am a realtor, why is this important to me?

Pat Bybee: Well, mainly, you know, MLS database is very rich in information, but it is just sitting on the MLS computer. So, if you want to have a variety of choices for getting a hold of that data so that perhaps you could do a specialty CMA if you have got an application for some specialty solution or a back office solution. How do you get the data from the MLS without writing a custom interface each time?

BrokerIPTV: Now, is NAR involved in this in instituting some new policies for this as well?

Pat Bybee: Yeah, as a matter of fact, last year NAR created a new policy for MLS' that require us to be RETS compliant by June 2009.

BrokerIPTV: So, that's everybody across the nation.

Pat Bybee: All 800 of them.

BrokerIPTV: Okay. How does RETS benefit Metrolist members specifically?

Pat Bybee: [Inaudible] really. Metrolist members have had the benefits of RETS since 2000. A number of our business partners use RETS to access the database to deliver services back to the members.

BrokerIPTV: You enlightened me. I really appreciate it. Great having you here, thank you.

Pat Bybee: Glad to have the opportunity, thanks

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Posted on December 18, 2008 17:07:33 by Blog Author