RISMedia's Real Estate Magazine

JUL 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE July 2019 41 But with RESO (the Real Estate Stan- dards Organization) bringing in new data standards, tech providers have the chance to make big waves. Vy Luu (right), director of product development at Real Estate Webmasters (REW), plans to lead that charge on the international scale. Luu, who has previous experience in data-driven industries like telecom, trav - el and finance, sees nothing but opportunity. "Everyone knows real estate data is well behind other in- dustries, but that doesn't mean we have to be." In 2017, REW became one of Canada's largest Google Partners by migrating their data infrastructure to the Google Cloud Platform. A year later, an RFP resulted in a new part- nership with Slalom, a billion-dollar consulting firm with 6,500-plus em- ployees globally and a track record of bringing data solutions to finance, telecom and technology giants. In partnership with Google and Slalom, and backed by REW CEO and founder Morgan Carey, Luu is pioneering a state-of-the-art data solution that not only makes use of world-class database and search technologies like Cloud Spanner and Elasticsearch, but also adopts RESO data standards. How will this impact the industry? Luu sees three major benefits. The first is a major boost in performance. "REW's new listing data structure will be really fast, extremely reliable and scalable in ways previously unavail - able." Faster home search algorithms, servers that au- tomatically scale in size with the number of website visitors, and mon- itoring tools that proactively detect changes from MLS boards are all potential realities in this new world. The second impact comes in the form of new analytics and data que- ries. "This isn't just about improving speed. This opens up entirely new capabilities for the types of home searches we can perform and the products we can create." Luu provid- ed an example from Chinese culture. "Homes with red doors, or homes with the No. 8 in the address, are considered symbols of prosperity and good luck. These types of previ- ously unimaginable home searches are now a possibility." Third, adopting RESO standards allows Real Estate Webmasters to take their first-class real estate tech - nology to the world stage. In the cur- rent landscape, listings data is even more disparate outside of the United States and Canada. "Removing bar- riers relating to unstructured data allows us to bring powerful home search technology to the entire world," says Luu. "This is a fantastic example of what leadership on data standards can do to improve technology for international marketplaces," says Sam DeBord, CEO of RESO. "Local differences are what make real es - tate so interesting and valuable, but technology is global. Providing this essential common language of data standards to the marketplace shows great vision and commitment by Real Estate Webmasters to the global real estate technology community. Starting with Europe, Real Estate Webmasters' goal is to bring reliable listings data to previously untapped international markets, reshaping the international real estate market as a whole. RE For more information, please visit www.realestatewebmasters.com. Real Estate Webmasters Bringing RESO Standards to the World Real Estate Webmasters is investing millions into a brand-new data infrastructure. Their goal? To be the global leader in real estate data standards. by Zoe Eisenberg I t's well-known that a lack of data standards presents a significant hurdle for the entire real estate industry. For technology providers, differences between the 700-plus MLS boards across North America can cause significant performance and reliability challenges—not to mention a total lack of MLS data in most international markets. AT A GLANCE: • Largest custom front-end development and marketing firm in the real estate industry • Staff in Vancouver, Nanaimo, Montreal, Denver and Sacramento • 150 in-house developers and support staff • 75,000 paid users by year's end • $150 million in aggregate annual revenue • Elevator Pitch: At Real Estate Webmasters, your only limitations are your budget and your imagination. We can build anything.

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