MLS Standardization Underway

Does your website appear at the top of real estate-related search engine results?
If so, enjoy it while it lasts.
The adoption of a universal MLS data language could hike the demand for real estate search-engine keywords online.
NAR has mandated that all MLS companies nationwide adopt a standardized language called RETS (Real Estate Transaction Standard) by June, 2009.
RETS will allow approved Realtors & industry vendors to gain third-party access to MLS listing data like never before.
The new dialogue is also expected to usher in a new wave of industry vendors, encouraging web entrepenuers to develop newer technology solutions for the online real estate industry.
However, MLS companies will still be operating as seperate entities. This means that although the MLS system will speak a uniform language with RETS, the licensing and user requirements will remain specific to geographical areas.
While price increases for search engine keywords may pick the suit coat pockets of large national franchises, individual Realtors will ultimately save marketing money.
Realtors across the country currently pay expensive premiums to get national exposure for their listings through virtual tour companies, website memberships or similar.
With new marketing technologies entering the industry to compete against the veteran marketing vehicles of old, demand for the marketing dollar of Realtors will likely increase.
Thus, agents will find themselves catching a long overdue break in pricing for subscriptions to the technologies of old & rookie real estate marketing companies.
However, MLS companies will still be operating as seperate entities. This means that although the language will be the uniform across the board with RETS, the licensing and user requirements will remain specific to geographical areas.
For additional information about RETS, visit www.RETS.org.