Presentation at the RESO Conference at NAR Headquarters on Sept. 27, 2010

2. Chicago, Illinois
The National Association of REALTORS®
Monday, Sept. 27, 2010

3. • Just a ‘warm-up’ to the
main events
• No need to take notes
• Just listen to a few
stories…..
Travis Wright
Executive Director
The Real Estate Standards Organization
twright@reso.org

4. If I Can’t Hear It, I Can’t Fix It

5. I Have Listened To….
The BOD • “Do we incorporate, when & how?”
Work Groups • “Let’s do it this way, OK?”
Blogs • “The organization that doesn’t exist!?”
MLS Execs • “If you don’t, we will!”
Brokers • “Doesn’t‘ RETS do it all already?”
NAR • “What’s in the Member’s best interests?”
Experts • “WHAT are you guys doing?”

6. www.ted.com

7. Golden Circle

8. Whole Brain Thinking

9. Travis’ WHY
AFFILIATION
APPRECIATION My AUTONOMY
APPRECIATION
WHY
Acknowledgement of Merit In One's
Thoughts and Feelings
AFFILIATION
Treatment As a Colleague ROLE STATUS
AUTONOMY
Respect For One's Freedom of Decision
STATUS
Recognition of One's Standing
ROLE
Definition of One's Role As Fulfilling

10. The WHY’s of RETS
REALTORS SERVER CONSUMERS
VENDORS
WHY
CLIENT
NAR
of VENDORS
RETS
MLS
EXECUTIVES EXPERTS

11. RESO ~ RETS Eco System
900
Share MLS’
Holders
? COMMUNITY
150
80,000
GOVERNANCE SERVER Brokers
Share Board of Directors Vendors
Holders
?
PROCESS CLIENT 1,000,000
Workgroups Vendors REALTORS
PRODUCT EXPERTS
RETS Specification Consultants
4,000,000
NAR FUNDING Listings
is the Sole Shareholders
Share Holder
60,000,000
Consumers

12. The Tech Work This Week

13. Do You Have a Dog in the Hunt?

14. Wish I Did..

15. So, What Has Been Revealed?

16. REALTORS are Perplexed
Median
ASP:
Inventory: Income:
$182K NAR Dues:
4M & $36K
12mo’s $88 M
Annual
Home Local Dues:
Sales: 3.8M $190 M
Real
1.1 M MLS Dues:
REALTORS Estate $580 M
Vertical

17. 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

19. RETS Workgroup began informal meetings to
discuss data standards for MLS industry.
2007 2010
2000 2002 2003 2008
RESO RETS 1.8
RETS 1.0 RETS 1.01 RETS 1.5 RETS 1.7.2
(proposed) (proposed)

20. Server Client
NAR Experts
Vendors Vendors
Marketlinx CRT Realtor.com Many!
Mark
LPS
Lesswing
Others

21. Significant Contributions
Have Been Made By…
NAR-MLS Server &
Policy Client
Committee Vendors
NAR Members
($4m+) at Large

22. Solid Results for RETS
Five
MLS
Releases
Adoption
of RETS
60 M Uniques &
1.8 B minutes
June, 2010

23. 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

24. 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

25. • 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?

26. The COVE…at Santa Catalina Island

27. COVE MLS Members

28. Non-COVE
638,000 880+
MLS’
COVE
462,000
23
MLS’

31. 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!

33. Elected Appointed
1. Steve Clarke T 1. Jason Normandin T
(Systems Architect, Marketlinx) (Director, Center for Realtor
2. Troy Davisson T Technology)
(FBS-FlexMLS) 2. Mark Lesswing B
3. Mary Frances Adams B (SVP/CTO of NAR)
(TREND MLS)
4. Kristen Carr B
(VP, Realtors Property Resource)
5. Paula O’Brien T
(Owner, Ronin Technologies)

34. 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

35. • 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.