1. 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 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

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. RETS Development Direction
Innovative Job Titles
5/4/2019 D
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