Where Real Estate Gets Its Dirt

All I want for Christmas is for NAR to fund RESO a million dollars next year

Now more than ever I feel that RESO has a lot of momentum of helping the industry crack the problem of standards. Many people have led to this stage. I credit Jeremy Crawford for really transforming RESO from a small group of dedicated members to a large industry powerhouse made of people from all roles of organized real estate to help push standards further.

I’ll also give credit to Art Carter and Rebecca Jensen. Both prodded (shamed?) a lot of us to be more involved.   Art was also key in the hiring of Sam DeBord. Sam brings a business acumen to the RESO leadership that I believe is a crucial step in helping make standards a reality.

At the time of his hiring, I wrote  the industry needs to “step up and give Sam and RESO our full support.”

That time is now. I’ve heard that NAR budget for RESO is less than $300K a year. That is shocking. When I think of the millions of dollars spent on RPR, AMP, and Upstream it boggles my mind. Less than $300K?

The arguments for standards in real estate data don’t need to be re-stated here, but to keep this momentum going, RESO needs proper funding. Membership dues and events can only do so much.

In the most recent episode of my podcast, Industry Relations, I recapped the biggest new events of the decade. One of them was the accession of Bob Goldberg to the role of CEO for the National Association of REALTORS. Bob has stated and has delivered on the promise of being more inclusive, wanting to be a partner to new technology companies, and therefore keep NAR members in the mix. I can’t help but think the role of standards fits perfectly into this message.

So on Christmas Eve and the second day of Hanukkah, all I want is for NAR to bring RESO funding to a level where they can do the work needed to bring standards to life.

  1. I’m all for more investment in RESO. Years ago, effort was made to reduce the NAR’s investment in RESO to ensure its independence, which remains a priority. That being said, perhaps now is the perfect time for more investment from the NAR and other stakeholders. Yes!

  2. Couldn’t agree with you more, Greg. RESO has so much momentum right now. An increase in investment from NAR would deliver incredible ROI to their members. Happy Holidays!

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