RETS Development Direction 5/4/2019 New Topic In RETS terms, the future consists of Versions 1.7, 1.8 and 2.0 What can developers expect from Versions 1.7 and 1.8? Version 2.0. We look on releases that end in a zero as more significant. What major direction is the RETS community heading in as we pursue Version 2.0? The past consisted of Versions 1.0 and 1.5 Joke: An artist, a lawyer, and a computer scientist An artist, a lawyer, and a computer scientist are discussing the merits of a mistress. The artist tells of the passion, the thrill which comes with the risk of being discovered. The lawyer warns of the difficulties. It can lead to guilt, divorce, bankruptcy. Not worth it. Too many problems. The computer scientist says "It's the best thing that's ever happened to me. My wife thinks I'm with my mistress. My mistress thinks I'm home with my wife, and I can spend all night on the computer!" RETS version 1.7 RETS version 1.8 RETS version 2.0 Corvelle & Falcon

RETS Development Direction Topic Objectives 5/4/2019 Topic Objectives Improve understanding of content of current and pending releases to the standard What is the current and near term outlook for RETS? Broad adoption by the major RETS Service suppliers and consumers Improve understanding of development direction of the standard What is the mid-term outlook for RETS Where is it going? How will it get there? Improve understanding of content of current and pending releases to the standard Improve understanding of development direction of the standard Corvelle & Falcon

RETS Development Direction RETS Version 1.7 5/4/2019 Maintenance release of the standard All changes for this release have been adopted by workgroup Adds clarifications and minor functional improvement Driven by current vendors and challenges met with earlier versions of the standard Adoption should begin to be seen in the market in Q4 2004 Maintenance release of the standard All changes for this release have been adopted by workgroup Adds clarifications and minor functional improvement Driven by current vendors and challenges met with earlier versions of the standard Adoption should begin to be seen in the market in Q4 2004 Corvelle & Falcon

RETS Development Direction RETS Version 1.8 5/4/2019 Maintenance release with additional minor changes driven by the vendor community Probably not until Q4 2005 Areas identified for further development are: Update Media Maintenance release with additional minor changes driven by the vendor community Probably not until Q4 2005 Areas identified for further development are: Update Media Corvelle & Falcon

RETS Development Direction RETS Version 2.0 Overview 5/4/2019 New initiative driven by NAR and MLS Service providers RETS 2.0 is starting as a new initiative promoted by NAR and many of the MLS Service providers As RETS has matured, additional business opportunities have emerged RETS needs to respond to those opportunities to at least remain relevant and preferably grow in adoption and value within the real estate industry RETS 2.0 is the response to emerging technologies and their application to the business opportunities The maturing of Web Services from a concept to an emerging technology is one of the opportunities that RETS 2.0 will adopt and exploit Parallel track to maintenance work on RETS 1.8 The plan is to work on RETS 2.0 concurrently with RETS 1.8 Workgroups have been started for all of the investigation areas New initiative driven by NAR and vendors As RETS has matured, additional business opportunities have emerged RETS 2.0 is the response to emerging technologies and their application to the business opportunities Parallel track to maintenance work on RETS 1.8 Work groups have started Corvelle & Falcon

RETS Version 2.0 Direction RETS Development Direction RETS Version 2.0 Direction 5/4/2019 Support for more of the whole real estate transaction Extend RETS from the search and retrieval model of RETS 1.0 Give the Realtor the enabling technology to participate in more of the transaction and to add more value to the transaction Use Web Services technology to create secure workflow Apply solidifying Web technology to the demands of the Real Estate industry Keep the Realtors® as the sticky point in the real estate transaction Want to keep the Realtor as the point of contact where the buyer or seller sticks Even though the customer may have entered the real estate transaction from another participant in the whole transaction Example: mortgage or appraiser Want the customer to stick with the Realtor through the remainder of the transaction Build on the success of RETS Don’t break anything that’s working well already Support for more of the whole real estate transaction Use Web Services technology to create secure workflow Keep the Realtors® as the sticky point in the real estate transaction Build on the success of RETS to-date Corvelle & Falcon

RETS Development Direction RETS Version 2.0 Timeline 5/4/2019 Initial release will likely occur in 2005 There’s a lot of work to be done Tasks underway in 2004: Build consensus on priorities within the RETS community Identify business cases; as always there is alluring technology that may be more sizzle than beef Create interchange standard Technology discussions undeway are focusing on: Transport/Query Security Model RETS 2.0 will not prevent adopters of the current version from gaining benefits now Initial release in 2005 Tasks executed in 2004: Build consensus Identify business cases Create interchange standard RETS 2.0 will not prevent adopters of the current release from gaining benefits now Corvelle & Falcon

RETS Development Direction Topic Summary 5/4/2019 RETS Version 1.7 Maintenance release with minor enhancements RETS Version 1.8 RETS Version 2.0 Major release with added functionality and updated technology RETS 1.7 Maintenance release with minor enhancements RETS 1.8 RETS 2.0 Major release with added functionality and updated technology The bottom line is to consider what Version 1.7 and 1.8 contain as you undertake your development project Discussion Time Corvelle & Falcon

RETS Development Direction Innovative Job Titles 5/4/2019 D20001107 Corvelle & Falcon