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Realtors Property Resource®: What It Is, How You Benefit

Chances are, you have heard of the Realtors Property Resource® (RPR) by now. But what is it, exactly, and how can it benefit you?

More than four years ago, the idea of a nationwide online database of comprehensive, high-value property information was conceived from an idea that came out of NAR’s Second Century Ventures (SCV) initiative. A plan was developed and approved by National Association of REALTORS® leadership to provide this as a benefit to members, and a very knowledgeable team was organized to execute the initiative.

During the past couple of years, RPR has partnered with about 440 multiple listing services throughout the United States. With those partnerships, about two-thirds of all REALTORS® are able to access RPR as of mid-October, 2012.

Even with that high level of access, as a member benefit, part of RPR’s core mission is to deliver this technology to all of NAR’s 1,000,000 REALTORS®. This is important because it allows “all members to take advantage of RPR’s high value tools, features and reporting capabilities,” says Dale Ross, CEO of RPR. To that end, RPR has announced that they are making the system available to all REALTORS® on Nov. 1, 2012.

“The RPR team is very excited about the opportunity to bring RPR to markets which have been waiting for access to the system,” adds Jeff Young, RPR senior vice president of operations. “We’ve been telling members for months that the wait is almost over.”

So what can RPR do for REALTORS®? Here are just three advantages it can provide:

1. Generate data-rich reports: RPR collects loads of data on individual properties and their surrounding communities. You can use the system to generate custom reports that can include as much of this information as your clients want. “I have never heard of any buyers and sellers who do not like the reports,” Ross says.

2. Connect with younger consumers: Homebuyers and sellers from generations X and Y are doing the majority of their property researching online, often before they contact a real estate practitioner. When they do reach out to agents, these consumers expect them to be able to immediately provide even more valuable information on certain homes. With its extensive yet user-friendly database, RPR allows REALTORS® to do just that. “REALTORS® who use RPR will certainly have more information on properties than consumers who do research online,” Ross says.

3. Provide insight into property values: With the fluctuating housing market during the past few years, it is often difficult to get a handle on a home’s value at any given time. But with RPR’s Realtor Valuation Model® (RVM), users of this system will have an authoritative source with which to provide information about property values using tax information, sale history, and comparables and other data sets. “RPR’s RVM offers best-in-class automated valuations which REALTORS® can refine with their local market knowledge to make it even more accurate,” Ross says.

Want to learn more about how RPR can benefit your business? Go to http://blog.narrpr.com/national-launch. Also, be sure to register for a free REALTOR® Magazine webinar, “A Look Ahead: RPR’s Launch to All REALTORS®,” taking place this Thursday, Oct. 25, 2012.

UPDATE: The webinar is now archived. Go here to download or playback the event recording.

Brian Summerfield

Brian Summerfield is Manager of Business Development and Outreach for NAR Commercial and Global Services. He can be reached at bsummerfield@realtors.org.

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Comments
  1. steve albin

    It appears The Knoxville Area Association of REALTORS have some major concerns with Realtors Property Resource (RPR) and will not allow agent to advance to RPR and move forward.

    .Subject: October Greetings from Amanda Stone, 2012 President From: lyle@kaarmls.com Date: Thu, Oct 18, 2012 8:58 am
    “While RPR could be a wonderful member benefit, it does come with some definite limitations in its reports, such as tax data that may not be as accurate as it should be and limited search capabilities. And, there is some concern of what RPR may ultimately do several years into the product with the data received from local associations. Before approving KAAR to partner with RPR and to share certain yet-to-be determined data with RPR, the Directors referred the matter to the MLS Committee for further consideration and due diligence.”
    Could you help clarify what these problems might be.

  2. Patrick Sheaffer

    How do I become a member ? Thanks, Patrick

  3. I love to create Data Rich reports when selling properties. Next this helps me target my market. Also to generate the value of the home to the possible buyer. Great article thanks for the tips.

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