EXp Realty is the first brokerage to be certified by Real Estate Standards Organization, the trade association that governs how data flows in the real estate industry.
EXp Realty received both Web API and Data Dictionary certifications, allowing the brokerage to manage its own data while promoting efficiencies in its proprietary applications — like its virtual cloud brokerage platform — as well as enabling interoperability between systems and partners.
“More and more companies are realizing that RESO standards are not just for MLSs,” RESO CEO Sam DeBord said, in a statement. “EXp Realty is showing great leadership as a brokerage pushing interoperability and technology innovation for the entire industry.”
DeBord also used the occasion of the newly announced certification to push other brokerages toward the same goal.
“As professionals and consumers seek a more connected experience in their real estate technology, it will be critical for more organizations to follow eXp’s lead to drive standards adoption throughout the industry,” DeBord said.
EXp, in a statement, said the company embraces RESO’s data standards to create a solid foundation for a streamlined enterprise to facilitate growth in the industry. It plans to use the standards to both collect and apply data to create efficiencies for its agents.
The certification will also allow eXp Realty agents to continue to use their preferred vendors while enabling eXp Realty to incubate innovation in partnership with those vendors.
“These standards will create a transparent, interoperable interface where eXp Realty and all our partners are talking the same language,” Tony Beach, eXp Realty’ senior director of data services said, in a statement. “We believe in agent choice, and these standards make it easier for any organization across the industry to work with us.”
EXp Realty is a growing, tech-forward brokerage that operates its business inside a virtual world, enabling agents to connect with other agents for referrals as well as continue their real estate education from home. The company acquired its own virtual world vendor last year.
RESO is a roughly 850-member trade organization that includes the National Association of Realtors, multiple listing services, brokerage and tech providers.
The standards the organization creates are either updates to long-established standards, such as the RESO Data Dictionary and the RESO Web API — which offer a uniform way to exchange data between systems, such as from an MLS to a broker’s website, smoothly and accurately — or newer standards such as those for universal property IDs (UPIs) and blockchain.