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Phone: 301-838-7100

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9707 Key West Ave.
Suite 200
Rockville, MD
20850-3915

 
 
 
 

RETS - Real Estate Transaction Standard

The Real Estate Transaction Standard (RETS) is the new open standard for exchanging real estate transaction information. The National Association of REALTORS® (NAR) implemented this standard in March of '99. Consisting of a transaction specification and a standard Extensible Markup Language (XML) Document Type Definition (DTD), RETS is being implemented by many real estate industry leaders in their next generation of real estate information systems.

What is a standard?

When someone brings a new toaster home from the store, he or she never worries whether the plug will fit in the kitchen outlet or if the house has the right kind of electricity. That person is relying on a set of standards adopted by the appliance manufacturers and power companies to assure that things work together.

In the software industry, standards perform a similar function. They are not programs themselves and they do not get installed on any computer. Rather, standards are sets of rules that independent developers can follow to create software that will work together with other software built using the same rules. But they do not define what the program should do, just as the electrical standards do not specify whether a new appliance should make toast or brew coffee.

There are two ways standards can come into existence. Many companies in an industry may be solving a particular problem in a certain way. Perhaps they are copying a market leader or going along with a tradition. That solution has become a de facto standard, whether or not it's been officially sanctioned. The other option is for an organization or consortium to create a solution to a particular problem and to publish it as a standard for others to use. It only becomes a true standard, however, when enough other people actually start using it. RETS has been developed taking the second route.

Where does MRIS stand?

Metropolitan Regional Information Systems, Inc. (MRIS) has implemented the new software standard recently developed by the National Association of Realtors. MRIS complies with these standards and has developed and implemented the RETS standard. For years the real estate industry has dealt with multiple software standards. RETS incorporate XML (eXtensible Mark-Up Language) technology, a new Internet language that is more flexible than today's current standard, HTML. RETS will allow different software programs to more easily interact with one another.

By ensuring it is compliant with this new standard, MRIS is preparing for changes the real estate industry will experience in the next few years. Just as the Internet drastically affected the business, these new standards will also have a major impact on the profession.

How do MRIS customers use RETS?

Customers may use RETS in a number of different ways.

They may use it if they buy software or services from a company who uses the RETS system to access MRIS data.

Examples:

How do I get more information?

For general information about an MRIS Data Content Licensee, including the application forms and a zip package of pertinent documentation, please click on one of the following links:

For questions about contracts, fees, terms of service or any other non-technical topic, please contact our Sales Department, either by phone at 301-301-838-7159 or email.

For technical questions about the RETS standard and resolution of any problems you might be having, please contact our RETS department directly by email.



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