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NAR approves $12M/year zipLogix deal to offer free online transaction management to all Realtors

Proposal passes after vigorous debate
  • The board of directors of the National Association of Realtors approved a proposal to provide the trade group's 1 million-plus members transaction management software from Realtor-owned firm zipLogix at no cost to members.
  • NAR's three-year agreement with zipLogix charges the trade group $10 per member for the first two years and increases the rate by no more than the increase in the federal Consumer Price Index in the third year, according to NAR CEO Dale Stinton. The deal is estimated to cost between $11 million and $12 million per year from NAR's reserves.
  • Some board members who weighed in said this was a waste of association resources; others said it was a valuable step for the industry to take.

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SAN DIEGO -- After vigorous debate, the board of directors of the National Association of Realtors approved a proposal Monday to provide the trade group's 1 million-plus members transaction management software from Realtor-owned firm zipLogix at no cost to members. NAR's three-year agreement with zipLogix charges the trade group $10 per member for the first two years and increases the rate by no more than the increase in the federal Consumer Price Index in the third year, according to NAR CEO Dale Stinton. The deal is estimated to cost between $11 million and $12 million per year from NAR's reserves. NAR's membership count stood at just under 1.17 million at the end of October. Starting in the first quarter, agents and brokers will have free access to the firm's zipForm Plus software, transaction forms specific to their area, document storage through zipVault, and zipLogix' transaction management system, zipTMS (formerly known as relay). ZipLogix is a joint venture betwe...