MLS & AssociationsTechnology

Standardized data tracking could help agents and brokers target advertising dollars

RESO work group chair: 'True analytics that show value are now expected'

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Takeaways: The Real Estate Standards Organization (RESO) hopes to use data standards to make a fully automated real estate transaction a reality. A new work group focused on online data tracking could help brokers and agents better target their advertising efforts for listings. Multiple listing services could also use a standardized tracking method to glean information to make business decisions about which vendors to use. A nonprofit whose goal is a fully automated real estate transaction has formed a work group focused on tracking real estate data online. The move could ultimately help brokers and agents figure out which advertising channels give them more bang for their buck. The Real Estate Standards Organization (RESO) counts associations, multiple listing services, brokerages and vendors across the industry among its members. RESO formed its new Internet Tracking work group in response to growing interest in big data analysis and in developing ways to measure the va...