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...
- 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.
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