OpinionIndustry News

NAR leaps into the fray — in a big way

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The Realtors Property Resource (RPR) is likely the most important technology story of the last few years. And it will probably be the most closely watched story for the next couple of years too. What is the RPR? Brian Boero from 1000Watt Blog sums it up nicely. "The NAR has taken over certain technology assets of Cyberhomes from LPS (formerly known as FNRES) in order to bring its RPR (Realtors Property Resource) project, as well as its consumer-facing play, HouseLogic, to market. To do this, they have created Realtors Property Resource LLC -- a wholly owned subsidiary of the NAR." This is huge. A national database of more than 140 million property records -- eventually enhanced by property status (on or off market) data from MLSs around the country. A suite of tools built to allow Realtors to access and share this data with their clients. Even a stab at knocking off those pesky computer-generated Zestimates with a new RVM or "Realtor Valuation Model." Thi...