LISLE, Ill., Sept. 3, 2015 (GLOBE NEWSWIRE) -- Midwest Real Estate Data (MRED), Chicagoland's multiple listing service (MLS), announced that Chris Lambrou, its Director of Special Projects/R &D, has been named the first chair of the newly formed Real Estate Standards Organization (RESO) Internet Tracking Workgroup.
RESO is a group of real estate organizations working together to develop and implement data standards and processes that support innovation, ensure portability, eliminate redundancies and obtain maximum efficiencies for all parties participating in the real estate transaction. RESO's ultimate goal is a fully automated real estate transaction facilitated by data standards and processes accepted by real estate professionals everywhere.
RESO has formed the Internet Tracking Work Group in response to the significant interest that exists today in big data analysis and developing ways to measure the value of data displayed.
"Tracking data is a key component for any modern day data set," said Lambrou. "No longer is having the data secure and readily available enough. True analytics that show value are now expected and commonplace in the software industry. A RESO standard on tracking RETS data would be beneficial for all parties involved. I'm extremely excited for the opportunity to be the facilitator of this conversation and look forward to the journey ahead."
"Today across the nation, brokers and agents advertise listings through hundreds of different outlets," said Jeremy Crawford, Executive Director of RESO. "Understanding the value proposition of their advertising efforts and the reach of those efforts are critical to their everyday business. The new Internet Tracking workgroup chartered by the RESO Board of Directors will strive to create standards which will allow for brokers and agents to have transparency into the Internet listing activity and even behaviors by consumers so the brokers and agents know where best to focus their efforts and what is truly successful. The listing tracking information will also help technology and advertising companies tailor their products, services, and targeted outreaches to best serve their respective broker and agent customers."
"We are proud of Chris and the contributions he has made in developing the sourceMLS analytics platform," said MRED President/Chief Executive Officer Rebecca Jensen. "Tracking product usage amongst our vendors is key. MLSs need to make business decisions with this data, and it will help us compare "apples to apples". I am very happy RESO is taking full advantage of the knowledge and insight Chris will bring."
About MRED
Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to more than 40,000 brokers and appraisers and nearly 8,000 offices. MRED serves Chicago and the surrounding "collar" counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana. MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country for two years running according to the WAV Group MLS Technology Survey. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for five consecutive years the MRED Help Desk has been identified as one of the best small business centers in the United States and Canada by BenchmarkPortal. For more information please visit MREDLLC.com.
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