MLS & AssociationsTechnology

Zillow vs RPR: Which got more initial funding?

NAR and Zillow Group vie for influence over agents and consumers
  • Zillow got more than twice as much funding in its first few years than National Association of Realtors tech company Realtors Property Resource (RPR).
  • NAR is pouring tens of millions annually into RPR and its board intends to continue to fund RPR "into the foreseeable future."
  • Both Zillow Group and NAR have chosen to offer their agent customers tools to do business better. Neither RPR nor ZG is profitable.

The National Association of Realtors, the nation's largest trade group, owns a seven-year-old technology company into which it pours tens of millions every year. How does that funding compare to the initial funding for the biggest real estate company -- Zillow Group -- in the country? What's RPR -- and what's Zillow have to do with it? Realtors Property Resource (RPR) is NAR's tech company, a for-profit subsidiary that provides a members-only parcel-based database of 166 million properties and data tools to all of the nation’s Realtors at an annual cost of some $24 per member. By the end of this year, NAR will have spent at least $144.7 million on RPR since 2009, an amount that is projected to rise to $167.7 million by the end of 2017, $191.2 million by the end of 2018, and $215.2 million by the end of 2019. Zillow Group is a publicly-traded media and tech behemoth with a current valuation of $6.27 billion, 10 acquisitions under its belt and more consumer traffic tha...