Midwest Real Estate Data (MRED), the distributor providing the Chicago area multiple listing service (MLS), announced that its Special Projects/R &D Director Chris Lambrou has been named the first chair of the newly formed Real Estate Standards Organization (RESO) Internet Tracking Work Group.
"We are proud of Chris and the contributions he has made in developing the sourceMLS analytics platform," MRED President and CEO Rebecca Jensen said. "Tracking product usage among 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."
Company officials said RESO is a group of real estate organizations working together to develop and implement data standards and processes that support innovation, ensure portability and eliminate redundancies.
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," Lambrou said. "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."