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Will Realtors Property Resource Be A Game Changer?

rpr

I looked up from my computer to see HAR president Tracy Stice sifting through an organized mess of papers on his desk.

“So what do you think about RPR (Realtors Property Resource)?” Tracy asks.

“Well that depends if they get property data from MLS’s,” I say. Tracy smiles and I realize he knows something I don’t.

“Even without the MLS info, Realtors will still be able to access unprecedented historical public property data around the nation, including: deeds, conveyances, sales data, building permit info, floor plans, covenants and restrictions, and even actual recorded financial documents,” Tracy explains, “Plus it’s designed to accept direct feeds from participating multiple listings services that are RETS compliant.”

“‘Participating’ is the keyword here,” I throw back.

Tracy smiles again, “but Justin, did you know that one major MLS with 17,000 members has already signed a letter of intent to participate?”

Before I can respond, a group of agents enter the room. I’m ushered out of the office by my Director of Sales, and left alone with my thoughts of a nationwide real estate powerhouse.

What will this mean for real estate agents? What will this mean for consumers? What will this mean for real estate entrepreneurs like myself? Fortunately, many of my RPR questions are answered by Brian Boero’s insightful article.

Personally I feel RPR could be a game changer…if, and this is a big if, they get the right SEO behind the project. What do you think?

Update: I got back in front of Tracy and asked 11 Realtor Property Resource Questions.

About Justin Britt

Justin Britt (justin@hawaiilife.com) is Head of Innovation and Co-Founder of a little Hawaii Real Estate company. Britt oversees user interface design, SEO, programming, public relations and social media for Hawaii's 6th largest and fastest growing real estate brokerage.

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  • Sounds like another way for NAR to take our dues, partner with a tech company, and then resell us on what they built even though it relies on our participation and money to fund. Typical.

    As an aside, I can't say that in my capacity as an agent, I've looked up a property in another state or would need RPR to be national for me. I only need my local resources and they are already here. Of course, to make the big bucks and charge all of us, NAR will need and want a national system. And since we will likely participate, we'll get to hire pay for some more tech folks to handle the inevitable issues that will arise in setting up the system. Fun.

    • Joe thank you for taking the time to express your concern. I'm the Director of Social Media for RPR and wanted to share a few facts about the project. The RPR will not “resell” members as you mention above. Rather the RPR will be offered as a member benefit…and members will not pay an additional subscription, enhancement, etc to use the product.

      Also don't get stuck on the national aspect. Sure the RPR will be nationwide, but think of it as local in application…just without local borders. Members will gain access to a new level of sophisticated reporting for use with clients that melds MLS data with other key data such as tax assessments, liens, zoning, permits, environmental, neighborhood, schools and community demographics.

      • Hi Reggie,
        I can only assume that the RPR team is not working for free and if that is the case, then NAR, and the membership by proxy, is paying for the effort to make RPR happen.

        In addition, it seems like NAR has already spent money in the acquisition of “technology” (as per http://www.realtor.org/press_room/news_releases/2009/11/tech_property). From nar.org: “The technology acquisition includes licensed data and secured data aggregation services from LPS Real Estate Group, a wholly owned subsidiary of Lender Processing Services Inc. (NYSE:LPS), a leader in real estate technology.”

        I suppose part of this technology acquisition included people since RPR is now two Cyberhomes high ups are now on the management team for RPR. Again, I can only assume they are being paid by the membership?

        Lastly, the local aspect of it is tenuous at best. As I mentioned in the comment above, I already know where to go to get info for the 10 counties around where I do business. All agents already know this. You need tax data, hit the central appraisal district, you need zoning help, the development center for the city or municipality serving the property, if you want flood data, there’s a GIS system for that.

        Since I live here, I already pay for these services in my taxes. Why pay for them to be developed again by NAR for a national scope, when no agents that I’m aware of sell nationally?? Why pay my MLS to have tech folks to support the feeds, why pay national to employ folks to work on it?, Why incur the opportunity cost for other projects that could help our image over another proprietary database that the public can just complain about being more of the same realtors trying to have a monopoly on the market?? I mean who knows, maybe that’s the plan. Use member fees to build the product, let the DOJ complain, then go to the membership telling us that you’re now required to open it up to the public.

        Sorry to be so skeptical, but in my 7 years as a REALTOR, I’ve not been all that impressed with the technology direction of NAR as it related to members.

      • This is a good point, this is an extra added value for Realtors. You will not pay extra.

  • Aloha Joe, I can understand your skepticism. I too have my questions about RPR. However, I see a lot of good reasons for it too.

    • Hi Justin! I'm still waiting on all the good reasons. 🙂 (BUT I can be won over if I hear some compelling information.)

      Joe

      • Joe, I saw your questions over at Inman. I'll email them to Tracy.

        • Hi Justin,
          Just curious, did you delete my comments, that I left for Reggie of
          Cyberhomes? I responded to his comment with a longer comment twice and it
          was deleted shortly there after.If you would direct Tracy to this post she
          can join in with Reggie and I. I'm really concerned, possibly unjustifiably,
          but concerned nonetheless about the direction the RPR is taking.
          http://www.joecline.com/blog/2010/02/16/rpr-pro

          Thanks
          Joe

          • No, Justin did not delete the comments – for some reason they got caught in SPAM. I just approved your 2nd comment and now it's showing up on this thread. Sorry about that.

  • It is good but I want to know more information.

  • It is good but I want to know more information.

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