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Progress on real estate technology standards

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Editor's note: Innovative technology can help simplify the home-buying process, eliminating unnecessary paper and making the transaction less cumbersome and easier for everyone involved. In this three-part series, we spotlight progress in the trek towards a paperless real estate transaction, and talk to early adopters, technology developers and standards gurus about how far we've come and how far we still have to go. (Read Part 1, "Case studies of paperless success," and Part 2, "The new page-turner: Paperless real estate technology.") Technology and e-commerce standards are the surest way to lower costs and increase innovation in the real estate and mortgage lending industries, experts say. But standards, or a lack of standards, also have put up hurdles on the way to the paperless real estate transaction. For several years, two major industry efforts have been underway to tackle the issue of technology standards in real estate and mortgages: RETS and MISMO, which stand for the Real ...