Real estate market

Here's an interesting post on a real estate blog about tracking real estate markets. The point of view is that there are two factors that correlate with real estate activity. See http://johntuccillo.realblogging.com/default.asp?item=165702

IEC

What is an IEC? Internet empowered consumer.

MLS adoption of RETS

We discussed RETS (real estate transaction standard) in an earlier posting. In the meantime, the NAR Center for REALTOR Technology published its 2006 MLS Technology Survey. It asked two RETS related questions.

1. Does the MLS have a RETS interface?

The percentage of MLS with a RETS interface increased during the last year. The percentage answering "yes" increased from 2005 ( 43% ) to 2006 ( 54% ).

2. How satisfied are RETS users with the RETS interface and the RETS standard?

43% of RETS users are satisfied with the RETS interface and RETS standard. There is still a significant opportunity to increase RETS utilization by stressing the value of RETS.

When asked about data formats being used to make data available to 3rd party vendors for VOW / IDX data feeds :

14% responded with RETS (down from 2005 23%) and 19% used vendor proprietary formats (up from 2005 12%) and 31% used MLS custom format (up from 2005 25%).

While more MLS operators are adopting RETS, fewer of them are using RETS for a mission critical application like VOW / IDX.