Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

The National Association of Realtors expects to dip into its reserves as it boosts spending on its Realtors Property Resource subsidiary to $21.9 million a year for the next three years, so that RPR can add additional features and data sources to the national property database that's accessible to all NAR members.Since 2009, NAR has spent $85 million on RPR, including $19 million in expenditures last year alone, according to NAR Finance Committee reports. By the end of 2014, the trade group will have spent $98.9 million on RPR, an amount that is projected to rise to $120.8 million by the end of 2015 and $142.7 million by the end of 2016.RPR provides property information and data tools to all Realtors, but its business model originally assumed that the venture would become self-sus...