The Real Estate Transaction Standard, or RETS, is a data standard used in the real estate industry to facilitate the exchange of property information. It allows multiple listing services (MLS) to share data about properties, making it easier for real estate professionals to access and manage listings. RETS provides a structured way to organize various types of real estate data, such as property details, photos, and transaction history. By using this standard, agents and brokers can ensure that they are working with accurate and up-to-date information, ultimately improving the efficiency of real estate transactions.