Raleigh, NC, Sept. 14, 2017 (GLOBE NEWSWIRE) -- The Real Estate Standards Organization, or RESO, today revealed the 2017 RESO DataComp, its first-ever data competition sponsored by Realtors Property Resource®, will begin on September 17, at 12:00 a.m. Pacific Time, culminating in live demonstration before a distinguished panel of industry judges from 1:00 p.m. to 4:30 p.m. Pacific Time on October 17 at the Pendry Hotel in San Diego, during the RESO fall conference.
RESO is an independent non-profit with more than 725 active members, including the National Association of Realtors®, multiple-listing services, real estate associations, brokerages - representing over 800,000 brokers and agents - and industry technology providers. RESO creates and promotes the adoption and utilization of standards that drive efficiency throughout the real estate industry.
The RESO DataComp is welcoming tech start-ups outside the real estate industry, as well as new innovators from Universities to incubators. A total of $25,000 in Cash Prizes is being made available, provided by prize sponsors that include FBS, the creators of Flexmls and Stratus Data Systems, Inc.
“RESO DataComp is open to all tech companies, startups, colleges, incubators and others who believe they have the next ‘big idea’ that could revolutionize real estate through data,” said Jeremy Crawford, CEO of RESO. “We are challenging the freshest minds in the developer community to take our hottest technology standard – the RESO Web API – and push the envelope by showing us how we can improve the real estate industry ecosystem,” he added.
DataComp details
Unlike a “Hackathon” that lasts for hours, the RESO DataComp data competition is comprised of a month-long development cycle. With an optional entry fee of $25 – which RESO will donate fully to a nonprofit – it is designed to be open to anyone: from the home hacker to the corporate coder, as long as they are a legal U.S. resident and 18 years of age or older at the time of submission. Individuals or teams are eligible to submit an entry, with teams comprised up to five (5) individuals. Registration must be completed online (https://resodatacomp2017.eventbrite.com) by October 16th, 2017.
$25,000 Cash Prizes include:
$10,000 USD for Best Startup
$5,000 USD for Best use of Listing Data
$5,000 USD for Best use of Non-Listing Data
$5,000 USD for Crowd Favorite
According to the official rules of the RESO DataComp, submissions can come from all technology sections, including, but not limited to mobile, web, VR, AR, device, hardware, and drone. The most important requirements: entries must select at least one RESO Web API v1.0.2 Compliant Provider.
RESO Web API compliant providers available during the competition will include the RPR-AMP platform, FBS’s Spark API platform, California Regional MLS’s API platform and Zillow Group’s Retsly platform. Live real-time MLS data will be provided by Sandicor, California Regional MLS, Arizona Regional MLS, Austin Central Texas Realty Information Service and other datasets within the RPR-AMP platform. Participants will also have access to tax data provided through the RPR-AMP and Retsly platform. MLS Data is a critical component requirement to the functionality of the submission. A full set of the DataComp rules can be downloaded in a PDF from the RESO website here (https://www.reso.org/download/reso-data-competition-rules).
The panel of judges for the RESO DataComp will be announced at the RESO Fall Conference, and will include experts from both real estate and technology sectors. The Judging Criteria:
· 30% Originality: Considering the current real estate technology ecosystem, how unique is this product?
· 30% Execution: How well was this product executed on both the front end and back end?
· 25% Data Use: How well was a RESO compliant API used in this product?
· 15% Presentation: How well does the Participant describe and demonstrate their product to the audience and Judging Panel during the Demo?
The Live Demonstration portion of the competition – the final stage of judging – will be held on the afternoon of Tuesday, Oct. 17, during the RESO Fall Conference meeting in San Diego, October 17-19, at the uber-hip Pendry San Diego. Each team must present a live demonstration on site to be considered for the competition, remote entries and non-demo based presentations are not allowed, such as PowerPoint. Wednesday afternoon, October 18, will feature DataComp winner presentations. Registration to the conference is limited to just over 300 people and details are available online at www.reso.org/fall-mtg.
About RESO
The mission of the Real Estate Standards Organization (RESO) is to create and promote the adoption of standards that drive efficiency throughout the real estate industry. RESO was incorporated in November 2011, as an independent, not-for-profit trade organization that was previously a section of the National Association of REALTORS®. RESO has more than 725 active members, including NAR, multiple-listing services, real estate associations, brokerages and industry technology providers. For more information, visit www.reso.org. Contact RESO via email at info@reso.org.
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Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1f596b46-5934-4269-9f2f-1dc920a8f40a