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.
By Stacey Moncrieff, Editor in Chief, REALTOR® Magazine
Dale Stinton, NAR CEO
Congratulations to NAR CEO Dale Stinton, who was named today as 2010 Inman Innovator of the Year. The announcement came during the real estate technology conference, Real Estate Connect.
Dale was recognized for leading the charge on the Realtors Property ResourceTM, a database—currently in beta testing—that promises to put deep knowledge and insight on every U.S. residential and commercial property into the hands of NAR members.
Also cited was the association’s Game Changers Challenge, a program in which NAR affiliates and state and local associations were invited to propose game-changing ideas for their organization. In all, 200 ideas were submitted; in May 2010, NAR announced it was funding and providing coaching for 14 projects (plus, it partially funded several more proposals). The cool idea behind the Game Changers Challenge is that, theoretically, it will help associations around the country replicate successful programs that their peers are developing.
Houston Association of REALTORS® CEO Bob Hale also won an Inman Innovator Award today for best web service. His association’s REALTOR® Match, an open source application that helps consumers find a REALTOR®, was a winner in the Game Changers Challenge.
Sharing the Inman Innovator of the Year spotlight with Dale was Better Homes & Garden CEO Sherry Chris. We interviewed Chris in 2008 after she was selected by Realogy to restart the BH&G franchise. Chris has made a big splash in social media circles and her company has grown to 125 offices and 5,000 sales associates, operating in 16 states.
The Inman Innovator Awards were named for Inman News Founder and Publisher Bradley Inman, who also started Real Estate Connect.
By Brian Summerfield, Online Editor, REALTOR® Magazine
What makes REALTORS® relevant in the real estate industry? In a word, information. That’s why the REALTORS Property Resource™ is so important, Dale Ross, RPR’s CEO, told NAR’s Board of Directors Saturday at the 2010 Midyear Legislative Meetings in Washington, D.C.
“As REALTORS®, we have to know more about properties than anyone else,” Ross said. “Whatever has to do with that property, we need to have that info.”
The REALTORS Property Resource™, a database that will eventually cover every property in the United States, will pull in data from public records, prior transactions, MLSs, transfer taxes, and other relevant sources. It is one of NAR’s Second Century Initiatives.
In his update to the board, Ross said Continue reading »
By Brian Summerfield, Online Editor, REALTOR® Magazine
The 2010 REALTORS® Midyear Legislative Meetings & Expo is getting underway this week. Like last year, this event will kick off tomorrow with the Real Estate Summit, a day-long look at high-level trends and industry issues with leading commentators from the worlds of real estate, business, media, and politics. That will get started tomorrow morning with the Legislative & Political Forum, which will include remarks from FHA Head David Stevens, as well as what should be a lively debate between GOP strategist Ed Gillespie and former Democratic National Committee Chairman Terry McAuliffe.
There will also be a great deal of discussion about new initiatives from the National Association of REALTORS®. On Wednesday, the local and state associations that were selected to have innovative new ideas funded and supported by the Game Changers program will give presentations on their projects. In addition, the REALTORS Property Resource™ (RPR), which was publicized at last year’s Midyear Meetings, will definitely be a popular topic. (For more on that, see this new video from Dale Stinton and 2010 NAR President-Elect Ron Phipps.) Continue reading »
By Brian Summerfield, Online Editor, REALTOR® Magazine
…NATIONAL ASSOCIATION OF REALTORS® CEO Dale Stinton. That’s according to real estate pundit Stefan Swanepoel, who cited Stinton’s progress on innovative initiatives such as the REALTORS® Federal Credit Union, HouseLogic, and the REALTORS® Property Resource (RPR).
To find out more about Swanepoel’s top newsmakers of last year, go here.
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