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RESO FAQ
- What is REcolorado’s Go RESO project?
- When can I expect changes?
- Is REcolorado getting input from subscribers?
- What will this mean for my IDX site?
- Will RESO change the tools and services I use?
- What is the RESO Data Dictionary?
- Why is the RESO Data Dictionary necessary?
- How is Go RESO beneficial to me?
- Will REcolorado Matrix change?
- How are you going to change the fields and options in REcolorado Matrix?
- Will this change or delete anything I’ve set up in REcolorado Matrix?
What is REcolorado’s Go RESO project?
The Go RESO project will shift your listing data in REcolorado’s Matrix MLS to match the RESO Data Dictionary—standards that are being adopted industry wide to make listing data more consistent and easier to provide to the industry tech vendors you rely on, like IDX companies. REcolorado is among the first MLSs to make the change to Data Dictionary standards.
Though much of this work will happen behind the scenes, it plays an important role in our strategy to be your business partner and bring you innovative solutions you can use to serve your clients. Consistent data from MLSs across the country, using Data Dictionary standards, will allow these companies to more quickly enhance current tools and more easily generate new technology that will help you help your clients and help you continue to grow your business.
When can I expect changes?
The project is currently underway, with work taking place behind the scenes. To ensure we’re not disrupting your busy buying and selling season, changes to REcolorado Matrix MLS won’t be implemented until much later this year. We’ll keep you updated throughout the summer and into the fall, so you’ll always feel in the know on the project timeline.
More immediately, part of Go RESO requires your IDX vendor to make a switch to the way they’re receiving your listing data from REcolorado. You may start to receive communications about that from your vendor as they prepare to make that switch.
Is REcolorado getting input from subscribers?
Input from REcolorado subscribers across the state—your peers—is key to ensuring REcolorado Matrix remains an MLS system developed for you and by you! We’ve used the REcolorado Think Tank to form feedback teams that are meeting to give their input on everything from search and displays to data mapping and rentals. This feedback will guide us as we’re structuring the Go RESO project. The teams of your peers are meeting now and will continue to meet throughout the summer.
What will this mean for my IDX site?
Part of Go RESO requires your IDX vendor to make a switch to the way they’re receiving your listing data from REcolorado. We've been communicating with IDX vendors directly to ensure they have plenty of time to make these changes, and will continue to do so through the migration process. You may start to receive communications about that from your vendor as they prepare to make the switch.
Will RESO change the tools and services I use?
Outside of REcolorado’s Matrix MLS, the tools and services you access through your REcolorado CONNECT dashboard will not change. However, if the provider of the tool opts to move forward at any point with their own RESO Data Dictionary transition, the field and options available within that tool may be similar to what you’ll see in Matrix later this year.
What is the RESO Data Dictionary?
The Data Dictionary is described by RESO as the real estate industry’s “Rosetta Stone” because it ensures MLSs and others who gather real estate data “speak” the same language. It is a common standard that defines real estate data in consistent terms and is being adopted by many of the major MLSs across the country, including REcolorado. For more information, you can check out the RESO Data Dictionary website.
Why is the RESO Data Dictionary necessary?
Standards are an important part of any process and help to limit confusion for everyone, especially when a large pool of users is involved. Take driving for example. Everyone knows the rules of the road and those standards help decrease traffic accidents. The RESO Data Dictionary is to real estate listing data as the rules of the road are to motor vehicle operation.
There are more than 600 MLS organizations across the country, with nearly as many different names for their MLS fields and options. The data inconsistency makes it difficult for tech vendors to develop tools you need to serve your clients. REcolorado is among the first MLSs to switch to Data Dictionary standards, making it easier to connect with other systems that use the same standards. When listing data is consistent, with the same field names and options, it’s much easier to move it around and quicker to develop the cutting-edge technology tools you want and need.
How is Go RESO beneficial to me?
Go RESO will bring many benefits, although you won’t see changes to REcolorado’s Matrix MLS until much later this year, to ensure we’re not disrupting your busy buying and selling season. Here’s a quick overview of what you can expect:
- REcolorado’s Matrix MLS will have a new layout with updated displays and reports.
- REcolorado’s Matrix MLS system will be even easier to use because listing data will be cleaner and consistent with standards that are being adopted industrywide. Additionally, “help” sections will be updated to be more informative.
- New enhancements to REcolorado’s Matrix MLS will be added, including a new listing status called “Coming Soon” that will allow you advertise coming-soon listings within your office.
- Adopting RESO standards will facilitate the future development of supplemental technology tools you want to serve your clients and work more efficiently.
- REcolorado will have updated Training and Education classes for you to attend and resources for you to use to take full advantage of the enhancements that you’ll see in REcolorado Matrix.
Will REcolorado Matrix change?
The fields and options you use to enter and search for listings in REcolorado’s Matrix MLS will change to match the RESO Data Dictionary. For example, names of fields and options will be different and the way some of them are grouped may change, as well. But don’t worry. We’ll make hands-on training classes available to you ahead of the switch later this year and give you access to resources you can use to help you quickly identify the fields you need to efficiently enter and search for listings for your clients.
How are you going to change the fields and options in REcolorado Matrix?
We call this part “data mapping,” meaning we’re taking inventory of all the current fields and options available in REcolorado’s Matrix MLS and are carefully matching them with the RESO Data Dictionary fields and options so the transfer of your data will be as seamless as possible. Members of the REcolorado Think Tank are giving us feedback throughout the project because broker and appraiser input on how the data is mapped is extremely important.
Will this change or delete anything I’ve set up in REcolorado Matrix?
Our team has spent many hours laying the groundwork for this project to make implementation as seamless as possible. The fields and options you use to enter and search for listings in REcolorado’s Matrix MLS will change to match the RESO Data Dictionary, which means the criteria you’ve set up for your saved searches and auto emails may need to be adjusted after the Go RESO launch. In general, to make certain you’re getting the full benefits of REcolorado Matrix, it’s always good to continually review your saved searches and auto emails to make sure they’re current, deleting any you don’t need. Taking a minute to do this prior to the launch of Go RESO or any REcolorado Matrix enhancement, will ensure you’re in a good position.