MLS & Associations

NAR will dip into reserves as RPR funding boosted to $22 million per year

Trade group has spent $85 million on property information subsidiary to date

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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-sustaining by 2012 by selling analytics products such as property valuations to lenders and government agencies. In the four years since its launch, RPR has struggled to make money, generating a total o...