For the most part, brokerage companies gather their information and build their listings using data they retrieve from the MLS – Multiple Listing Service.
These databases have been created and are maintained to provide real estate professionals, agents and brokerages with information that is then given to the clients who wish to buy houses.
With the speed that properties have been moving on and off the market and the ease that people can get this information with modern digital applications, the winners of the modern real estate sales game will be those who can get information faster.
RETS or Real Estate Transaction Standards is the technology used to translate and transfer the real estate information across various platforms.
In order to succeed, any brokerage company must have their communication and integration set up to receive and transmit data at lightning speed.
Which Companies Will Come Out On Top?
While surfing around Redfin or Zillow recently, you’ve likely seen a handful of price drops on single family homes. And these haven’t been particularly small drops either. We’re seeing decreases of 50-75 thousand dollars off the highs of last summer.
Whether this stems from inflation, an uncertain global economy, a sharp increase in mortgage or a combination of multiple factors, it would be hard to argue that the real estate market hasn’t begun to cool off at least a bit.
Some people—as they look back wistfully at the low interest rates that were available less than a year ago—are becoming discouraged from buying a new house. At the same time, there is never a better time than the present to act and get situated in a home as rates could only continue to extend their pain and escalate higher.
One thing is, however, certain: there will never be a shortage of people demanding a place to live. So, despite ups and downs in housing markets, one class of industries that is sure to prevail are real estate brokerages.
Currently, the hottest and most successful ones are those who have transitioned and acclimated to the mode of our current times—instant gratification by the relay of data immediately and at once. The days are gone when people contact a broker over the phone, schedule a viewing for some future date, drive to a house and then finally step inside.
A potential home buyer in today’s market wants to see the house right away and look at pictures seconds after they punch in the address on their device or computer.
Many home buyers these days don’t even meet their Redfin or Zillow realtor until they bring over the keys for the new house. Video calls or even just photographs provided on an iPhone or computer app seem to be the only thing required to make one of the largest purchases of their life.
With all this competition, winning comes down how quickly such a company can get their data.
Connections By MindCloud: Cutting Edge RETS Integration Software
Connections by MindClouds offers one of the most intuitive and competitive forms of RETS integration software on the market.
The team of developers at MindCloud have developed a customizable integration platform that is able to connect to any form of RETS software.
Contact MindCloud today for a free consultation.