You will soon begin using a new version of REcolorado Matrix that will include some exciting enhancements and an updated look and feel, along with some noticeable changes to field names and locations. We’ve been letting you know about the changes you can expect, along with the training we’ll be offering, in our Weekly News emails.
While changes, updates, and enhancements may be exciting news to many, others may be curious why so many changes are necessary when REcolorado Matrix is a system you already know. Why not keep REcolorado Matrix the same when it is just fine the way it is?
The short answer is we’re preparing REcolorado Matrix, and your listing data, for the future. This is a great example of how change equals opportunity!
To give you a little background, REcolorado is an MLS chartered by the National Association of REALTORS®. As such, we are required, at minimum, to make a feed of listing data available that aligns with the Real Estate Standards Organization (RESO) Data Dictionary. This requirement can be achieved by working with third-party vendors who provide products that convert data feeds. Although we could have taken this approach, REcolorado made the decision to go a step further and revise our local REcolorado Matrix database to match the RESO Data Dictionary. This will give us RESO Platinum Certification for our core REcolorado Matrix database.
A full database conversion means changes to a tool you rely on daily. However, these changes will bring many opportunities immediately and as we look forward:
- You know the field names – The field names you will use in the new version of REcolorado Matrix will match the field names used by all RESO Data Dictionary compliant organizations, MLSs, and technology tools and services, as well as for consumer-facing offerings. Knowing the standard field names and understanding their definitions will put you a step ahead as you use new tools and serve your clients. No more confusion!
- Bi-Directional Flow of Data – Because REcolorado Matrix, our local database, will be built to the RESO standard, we will be able to more quickly and efficiently acquire listing data and distribute your listing data in a RESO-compliant manner.
- Protecting your Listing Data – Making certain you have an MLS database that is an accurate, complete source of listing data is our business. After all, it is one of the tools you most heavily rely on to serve your clients. Because REcolorado Matrix will follow the RESO Data Dictionary, your data can move to technology tools and between systems without losing information, which will result in fewer errors.
- More Technology for you – Making our local database match RESO names and definitions will open the door for technology providers to more quickly and easily bring new and improved tools to our market. These are tools you can use to more efficiently run your business and deliver even greater value to your customers. Without standards, it has historically been very expensive to develop new tools.
- Ongoing Enhancements to Matrix – The newest version of REcolorado Matrix that will launch in 2020 will bring you some very exciting enhancements, including dynamic listing input and simplified square footage calculations, which will streamline the listing entry process. You can expect ongoing enhancements and customizations to make REcolorado Matrix more tailored for the Colorado broker, as well as quicker and easier to use.
I hope you will join us for one of our upcoming training classes or watch the recorded webinar – Be Ready, It’s Coming, New REcolorado Matrix – to learn more about the exciting opportunities that are coming your way. In the meantime, if you have questions, please do not hesitate to reach out to our Customer Care team.
We have many opportunities ahead of us!
Vice President and Chief Product Officer