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RSS is an acronym for Really Simple Syndication or Rich Site Summary. Quite simply it is a way for websites to send out information (like emails) on new updates. If an interested party has added that website to their RSS Reader for monitoring, they get a new message in their RSS Reader.
This has several advantages, the interested party subscribes to the website feed through their RSS Reader. The website dosen't know who is getting the information, so they can't sell your email info and hence no spam. Don't want additional updates, remove the listing from your RSS Reader.
You no longer have to visit various websites looking to see what has been added or updated. The information pops up in your RSS Reader on it's own.
Where do you get an RSS Reader? There are two basic versions. The first is web based. You open your web browser and log in to a service (I use Google). The second is a downloaded and installed application. It might run as a stand alone application or as a plugin to another software application like Outlook.
Adding a RSS Feed to a RSS Reader varies depending on what product you are using, but basically you click on a RSS link (like the image above) and the feed window opens. You copy the url address from this window and paste it into the RSS Reader at the appropiate location, adding it to your selection of feeds.