The Real Estate Standards Organization – or RESO – just announced two big moves. First, RESO is eliminating separate Certification fees by making all Certifications a member benefit, covered by annual RESO dues effective immediately. Second, beginning in January, Real Estate Brokerages with fewer than 100 agents can become a RESO member for just $50 a year, slashed from $500 a year previously. Membership fees – shown below in the news release issued this morning – have been overhauled for 2017 and takes into account folding in Certification fees, which should be welcomed news for larger MLSs.
RESO is pushing hard to get more Brokers involved across the U.S. as well as helping smaller MLSs become members, making sure both have greater access and take a seat at the table in determining future standards for data.
Here is the full news release:
RESO Makes Certification a Member Benefit
Adjusts Dues to Make Membership Accessible to More MLSs, Real Estate Brokerages
Morrisville, NC – July 26, 2016 – Hundreds of smaller Multiple Listings Services and literally thousands of real estate brokerages throughout the U.S. will be able join the Real Estate Standards Organization – or RESO – next year for as little as $50 annually.
The RESO Board of Directors announced it has revised its 2017 membership dues to increase industry participation in standards development, and to ensure that adoption and certification of standards are accessible to all organizations. RESO Board also announced that effective immediately, Certification will be a membership benefit covered by the member’s annual dues, eliminating separate fees for Certification.
“By creating new membership tiers and slashing our annual dues for brokerages with fewer agents and MLSs with lower membership counts, we make RESO membership in 2017 more accessible for everyone in the real estate industry,” said Jeremy Crawford, executive director of RESO. “This ensures all market segments are affordably represented in the creation of industry standards, and greatly strengthens our ability to implement data standards, which directly improves the process of buying and selling homes for everyone,” he added.
By enhancing the RESO Fee Schedule to include Certification as a member benefit covered by annual dues, Crawford says the RESO Board’s move will immediately lower RESO administrative expenses and help streamline the certification process for everyone – RESO previously billed separately for each Certification – and it also should help attract more members.
The 2017 annual membership fee for MLSs with fewer than 500 members was cut in half from the current dues of $500 to $250 per year. This group represents the vast majority of the nation’s estimated 770 MLSs. Real estate brokerages, with fewer than 100 agents will see their RESO dues slashed from $500 a year to $50, a 90% reduction in dues.
RESO Board Chairman Art Carter, CEO of California Regional MLS (CRMLS), said, “This move will expand the reach of RESO deeper into the real estate brokerage community. It also demonstrates that RESO is working aggressively to give more MLSs and Brokerages a seat at the table to ensure they have an opportunity – and a voice – in controlling their own destiny in proposing, adopting and implementing new standards for real estate.”
Carter empathized that real estate standards “drive software innovation, ensures portability, eliminates redundancies and obtains maximum efficiencies for every part of the real estate transaction. These moves by the RESO Board should help to accelerate that effort.”
The Board also adjusted membership fees for other RESO membership categories and tiers, as some annual dues were increased while others remained unchanged, as shown in the charts below.
New 2017 RESO Annual Membership Fee Schedule for MLSs:
|MLS Firms by # of members (Class C)||Current Fee||New Membership Fee||Change + or –|
|10,000 – 17,499||$7,500.00||$7,500.00||No change|
|17,500 – 24,999||$7,500.00||$10,000||+ $2,500|
|37,500 – 49,999||$15,000.00||$20,000||+ $5,000|
|over 50,000||$20,000.00||$25,000||+ $5,000|
New 2017 RESO Annual Membership Fee Schedule for Real Estate Brokerages, Franchises:
|Real Estate Brokerages by # of agents (Class D)||Current Fee||New Membership Fee||Change + or –|
|5,000-14,999||$2500-$7500||$2,500||– as much as $5,000|
|15,000+||$7500-$20,000||$20,000||+ or No change – varies|
The RESO Annual Membership fee schedule approved by the Board also adjusted the fees for Associations or Groups. This special class of membership (Class E) also requires approval for membership by the RESO Board. The new annual fee, for those with fewer than 2000 members, increases from $1500 to $2000.
New 2017 RESO Annual Membership Fee Schedule Associations or Groups:
(Note: this membership Class requires Board approval)
|Association or Groups by # of members (Class E)||Current Fee||New Membership Fee||Change + or –|
Crawford said this news also sets the stage for an expected record attendance of its upcoming RESO Fall Conference – “Accelerating the Reach of Data Standards” – in Nashville on Oct 24-26, 2016, as RESO continues to push for greater industry participation from real estate brokerages.
“From our unique ‘Show N Tell’ that will showcase the latest technology innovations for property data to more Brokerage-centric panels and discussions, brokers will find more reasons than ever to attend our Fall Conference,” Crawford said.
Complete information about RESO membership fees changes, as well as membership Classes and Tiers, is available on its website at www.reso.org/join. RESO Fall Conference information and registration can be found at www.reso.org/fall-mtg.
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 incorporated was founded 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 500 active members, including NAR, multiple-listing services, real estate associations, brokerages and industry technology providers. For more information, visit www.reso.org.
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Note: WAV Group does consulting for RESO.