The Multiple Listing Service is a complex database of listings entered directly by Real Estate professionals and acts as a trading platform to buy and sell Real Estate properties. When a property is on the market for sale, it is added to the database and tracked through the sales transaction cycle – for example, when an offer is accepted by the seller and the property closes escrow, this is known as a ‘status change’ in the MLS system.
All this information provides a real-time database for real estate professionals to know precisely when a property is available for sale at any given moment and precisely when a property sells and for what price. Interestingly, the MLS is the very source that provides the listing feeds to Participant Broker sites and other distribution channels like HomeSnap, Zillow Group and Realtor.com so they have accurate Real Estate listings.
SmartMLS,Inc. provides MLS Datafeeds to brokerage offices and for companies offering products and services that help our subscribers in their business. Here are some data options available to you as a Participant/Subscriber to SmartMLS, Inc.
Real Estate Standards Organization, or RESO, was incorporated in November 2011 as an independent, not-for-profit trade organization that was previously a section of the National Association of REALTORS®.
RESO actively develops, adopts and implements open and accepted data standards and processes across all real estate transactions. RESO provides an environment for the development and implementation of data standards and processes that facilitate software innovation, ensures portability, eliminates redundancies and obtains maximum efficiencies for all parties participating in real estate transactions.