Realtor’s Property Resource

IRES and Pikes Peak Launch Data Share Using RPR View™

by Victor Lund on December 19, 2017

IRES

Realtors Property Resource® (RPR) offers a feature called RPR View™ which is now the largest MLS data share in the U.S.  Since its initial Residential Platform launch in 2010, MLSs licensing their information to RPR have a choice to display their active and sold records “only to their subscribers,” or to a wider audience like “statewide,” or “all REALTORS® nationwide.” MLSs can also selectively opt into sharing with specific markets. All 1.2 million REALTORS® have access to RPR and over 700,000 REALTORS® have accounts.  RPR also has over 665 licenses with MLSs and Associations, with the majority having a policy within RPR where they will “share their data with everyone who shares with them.” What IRES and Pikes Peak are doing with RPR View is more than just “turning on” listings. They are adding fields of information that are not typically shared with RPR, a feature specific to RPR View. These are fields that are fundamental to enabling transactions. Members of each market will have the ability to “view” the Confidential fields including offer of compensation, showing instructions, agent remarks, etc. The basic RPR sharing provides listing information to REALTORS® out of area, but the Data Share with RPR View goes further. A group of MLSs in Minnesota do this as well. Another key difference in this level of data sharing is that each MLS is also licensing their sold records to RPR for display between the two MLSs. As you should all know, Realtors Property Resource, including RPR View with these data sharing features is an exclusive member benefit of the National Association of REALTORS®. WAV Group likes to refer to this data share as data sharing lite – all of the great taste of a full data share, but less filling. RPR view is free to the MLS and the Realtor®, but does not involve managing reciprocal links, managing data feeds, etc. A full data share would include lock box integration, forms reciprocity, IDX/Vow integration, rules integration, etc. Full bodied data shares would come with a price tag of $1 to $6 per member per month and take upwards of a year to launch. Depending on your circumstances, RPR View may be appropriate to meet the needs of some of your MLS subscribers with little or no overhead to operate. Contact Kristen Carr for more information. If you do not have her phone numbers and email address – […]

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REALTOR(R) Productivity is stronger than expected

by Marilyn Wilson on November 19, 2014

The world is looking up in real estate.  Cautious optimism abounds.  So now the real question is…how many REALTORS® are back in the game for real?  How many have captured the hearts of sellers?  How many have sold properties in the past 6 months?   We believe the information that we have just gathered is encouraging. It looks like the wealth is being spread around to more REALTORS® than expected. We thought the numbers would reflect the 80/20 rule – In reality, it looks like the 60/40 rule is running the day. Just under 60% of REALTORS have had a transaction in the past 6 months according to the 2014 WAV Group REALTOR® Productivity Survey.  Interestingly just about the same number of REALTORS® log into their MLS system daily. So what does this all mean for MLSs and Brokerages?  Other than creating optimism that membership and revenues will continue to increase, the actual number of productive agents in the market today can also alter the way an MLS, Brokerage or other technology provider calculates the actual adoption level of technologies. If you assume that 100% of your audience is ripe for technology adoption, you may want to think again.  If only 60% of your target audience is actively logging into the MLS system every day, the likelihood they are going to be seeking out and adopting new technologies beyond the MLS is pretty slim. Check out the WAV Group Productivity Study to learn more about how to calculate the TRUE adoption of technologies in your MLS and brokerage today

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Today’s News Summary

by Victor Lund on September 30, 2014

News represents change in real estate. It also represents staying the course. There were lots of both today. Not knowing what to expect, the industry unloaded today. Bullets were flying everywhere. The MOVE acquisition by News Corp was the headline – If you look at our post on it, we have added the letter that NAR sent to the membership, the letter that MOVE sent to the industry, and the press release. Taking the temperature on this, it is probably a good thing. The only big concern is that REA group from Australia has investments in the top 3 portals in America. They are minor unless you give credence to The Motley Fool http://www.fool.com.au/2014/06/25/is-this-the-beginning-of-the-end-for-rea-group-limited/ In their country, the price of a premium ad for a listing is $2000 per month – most agents pay $1000 per month for online advertising. We are miles from that in America where brokerage firms pay about a buck or two for listing enhancement. The Australian model is not sustainable in the USA. Edina Direct Syndicates to Trulia (and Zillow)? Trulia sent an email to the world today that Edina is sending listings directly to them. You can read the entire story here http://www.trulia.com/industry/announcements/edina-direct-agreement-with-trulia/ I did not make any calls to fact check what I am about to say, but here are my instincts on the matter. Real Estate Digital (RED) provides a variety of web services to Edina and some of the other Home Services brokerages. For syndication, RED offers a product called REData Vault. REData Vault is a solution that provides the brokerage with a number of features that are not included in other syndication solutions, and since RED is already handling their data – it makes direct syndicaition easier and includes a link back to the agent or broker website (RED already has the URL). With REData Vault, Edina can also allow firms to manage exactly what information goes to publishers – number of photos, modified description text, etc. You probably can also imagine that Edina has a pretty square agreement on fair display of their listings on Trulia and Zillow. Online advertising works when done carefully. You can be certain that this is being carefully monitored. Clearly this is a big win for Trulia and Zillow and they deserve it. They earned Edina’s trust, and it took years of persistence and learning about the principles of Edina Realty. That is exactly the way that you […]

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