1. File: 03_RETS_Overview.PPT 1 RETS Overview  What is RETS?  RETS background  RETS benefits to real estate industry stakeholders  RETS source code examples RETS Overview

2. File: 03_RETS_Overview.PPT 2 RETS Overview Topic Objectives  Build familiarity with RETS  Understand RETS benefits  Identify opportunities to employ RETS RETS is delivering real benefits

3. File: 03_RETS_Overview.PPT 3 RETS Overview What is RETS? An IT Standard  Open standard for exchanging real estate data –RETS is not closed or hidden  A standard described in a document –RETS is not software RETS meets the needs of real estate industry stakeholders

4. File: 03_RETS_Overview.PPT 4 RETS Overview What is RETS? Technical Principles  Enables data suppliers to provide access to data  Uses a standard data access interface  Applies widely-used concepts  Uses Internet standards where possible Sample RETS implementations are available

5. File: 03_RETS_Overview.PPT 5 RETS Overview What is RETS? Community Organization  Organized and funded by NAR –Regular meetings sponsored by NAR  Attended by all interested companies & individuals –Improvement ideas sought from industry participants  RETS standard is changed by Change Proposals  Workgroups address details of the RETS standard  Plugfests are held to establish interoperability  Compliance certification is available

6. File: 03_RETS_Overview.PPT 6 RETS Overview Who is Using RETS?  40 of the top 59 MLS - hold 50% of listings  All of Rapattoni’s 89 MLS customers  All of Interealty’s 38 MLS customers  Marketlinx’s 26 of 27 MLS customers  FNIS - 16 of approximately 300 MLS customers  Custom in-house MLS systems: –MRIS –Denver Metrolist Prepared by: RETS Overview

7. File: 03_RETS_Overview.PPT 7 RETS Overview How do RETS Clients and Servers interact? Query syntax Result set Realtor client MLS server

8. File: 03_RETS_Overview.PPT 8 RETS Overview What is RETS Used for?  Data pulls for MLS data customers: –Homestore & other data aggregators –IDX/VOW web sites –Brokerage systems –Newspapers/book publishers –Statistical summary/market trend analysis  Attach a given client software product to multiple brands of MLS servers –PC, laptop, PDA, cell phone

9. File: 03_RETS_Overview.PPT 9 RETS Overview What themes motivated development of RETS?  High software development costs for data distribution  Inability to plug clients into multiple MLS systems in an economic way  High IT support costs Pain leads to action

10. File: 03_RETS_Overview.PPT 10 RETS Overview When did RETS development start?  Development began in 1999  Collaborative effort between NAR and a number of industry technology leaders  Driven by need to make access to and transfer of MLS information easier  Versions 1.0 and 1.5 of RETS have been adopted by: –most of the major RETS service providers –many of the RETS service consumers

11. File: 03_RETS_Overview.PPT 11 RETS Overview RETS Value Proposition for each Stakeholder  MLS Organizations & Staff  Brokers  MLS Service Providers  MLS Data Consumers  MLS Customers  Consumers  Fostering Innovation Read the full set of values for all stakeholders: www.rets.org/retsvalue/

12. File: 03_RETS_Overview.PPT 12 RETS Overview RETS Example Specification Text 7.7.3 Sub-queries This query language provides for a nesting of sub-queries. For example: Query=((AREA=|1,2)|(CITY=ACTON)),(LP=200000+) Example: Query=(ST=|ACT,SOLD), (LP=200000-350000), (STR=RIVER*), (STYLE=RANCH), (EXT=+WTRFRNT,DOCK), (LDATE=2000-03-01+), (REM=*FORECLOSE*), (TYPE=~CONDO,TWNHME), (OWNER=P?LE) Verbally, this would be interpreted as “return properties with (ST equal ACT or SOLD) and (LP between 200000 and 350000, inclusive) and (STR beginning with RIVER) and (STYLE equal RANCH) and (EXT equal WTRFRNT and DOCK) and (LDATE greater than or equal to 2000-03-01) and (REM containing FORECLOSE) and (TYPE not equal toCONDO and not equal to TWNHME) and (OWNER starting with P and having LE in the 3rd and 4th characters).”

13. File: 03_RETS_Overview.PPT 13 RETS Overview RETS Metadata Example ResourceID StandardName VisibleName... Property Property Property... ClassName VisibleName StandardName... RES Single Family Residential... SystemName StandardName LongName... EF ExtFeat Features AR MLSArea MLS Area...

14. File: 03_RETS_Overview.PPT 14 RETS Overview RETS Compact Decoded Query Example http://rets.ftc2.com:6103/search? SearchType=Property&Class=RES &Count=1&StandardNames=1 &Select=Stories,YearBuilt,Style &Limit=10&Format=COMPACT-DECODED &QueryType=DMQL &Query= (ListPrice=50000-420000), (County=|HAMILTON-OH), (ListingStatus=|Active), (ListDate=2003-09-05+)

15. File: 03_RETS_Overview.PPT 15 RETS Overview RETS Compact Decoded Results Example Stories YearBuilt Style 3 1979 Colonial 1 1998 Rancher 3 1908 Cottage

16. File: 03_RETS_Overview.PPT 16 RETS Overview RETS XML Query Example http://rets.ftc2.com:6103/search? SearchType=Property&Class=RES &Count=1&StandardNames=1 &Select=Stories,YearBuilt,Style &Limit=10&Format=STANDARD-XML &QueryType=DMQL &Query= (ListPrice=50000-420000), (County=|HAMILTON-OH), (ListingStatus=|Active), (ListDate=2003-09-05+)

17. File: 03_RETS_Overview.PPT 17 RETS Overview RETS XML Results Example … 3 1979 None Colonial …

18. File: 03_RETS_Overview.PPT 18 RETS Overview RETS Components  Transporthttp  Requesthttp parameters  Query formDMQL  Output data formatscompact compact decoded XML  Output metadata formatscompact XML

19. File: 03_RETS_Overview.PPT 19 RETS Overview Topic Summary  RETS offers a comprehensive solution to improve real estate industry data distribution  RETS provides benefits to all industry stakeholders: –improved timeliness of data –reduced operating costs –increased revenue

20. File: 03_RETS_Overview.PPT 20 RETS Overview Innovative Tech Support