By now, you may have already heard of RETS. Perhaps you understand the basics but have more questions, or maybe you’re a novice real estate agent who doesn’t have a full grasp on all the industry buzzwords just yet. I’m here to help.
Last week, I honed in on IDX. This week, I’m taking the time to discuss Real Estate Transaction Standard (RETS) as an IDX alternative. My goal is to help you learn a top-level overview of what RETS is all about (in the future, I’ll create YouTube videos that go in-depth with using RETS features).
Here’s what you need to know:
What is RETS?
RETS is essentially a database of properties in the MLS in a spreadsheet. Essentially, this spreadsheet acts as a service tool for real estate agents who need access to specific data.
Why is RETS important?
Data is power. Being able to manipulate data gives your business much more value. Armed with RETS data, you can essentially create any type of website or web application that allows visitors to search and sort through the MLS that you want.
What else can I do with RETS?
There are endless possibilities for what you can do with RETS. For example, your programmer can pull together very specific queries and you can quickly generate useful market reports. You can also go even deeper and use that data to create realistic real estate industry projections.
How much does RETS cost?
The cost of RETS varies depending on the MLS. You’ll also need to consider the cost of hiring a programmer to make sense of all that data.
Check out the YouTube video for a more clear definition and easy-to-understand examples of how RETS works.
If you need help with RETS, reply to this email and I’ll be happy to help.