Comprehensive Definition
Realtor Property Resource (RPR) is an extensive, Internet-based platform offering REALTORS® access to an array of real estate data and insights. This exclusive tool aggregates data from multiple sources, including Multiple Listing Services (MLS), mortgage, and foreclosure records, demographic information, and other critical government and private datasets related to the real estate market. It allows REALTORS® to generate detailed property, neighborhood, and market reports, enhancing their ability to serve clients effectively.
Examples
Example 1:
A REALTOR® is preparing for an upcoming meeting with a potential buyer interested in a specific neighborhood. Using the RPR, the REALTOR® conducts a thorough search, pulling a comprehensive report that includes recent sales in the area, mortgage histories, demographic trends, and even information about local schools. This detailed report boosts the REALTOR®’s ability to provide insightful advice to the buyer.
Example 2:
A REALTOR® needs to help a property owner price their home accurately. By using RPR, the REALTOR® can access both historical sales data from MLS and current market trends, enabling them to suggest a competitive listing price based on the most recent and relevant data available.
Frequently Asked Questions (FAQs)
What is the primary purpose of the Realtor Property Resource (RPR)?
The primary purpose of RPR is to provide REALTORS® with all-encompassing access to public data, MLS information, and additional resources necessary to assist clients effectively and make informed decisions in the real estate market.
Is there a cost associated with using RPR for REALTORS®?
No, RPR is a complimentary service for members of the National Association of REALTORS®.
What types of reports can REALTORS® generate using RPR?
REALTORS® can generate various types of reports, including property reports, neighborhood reports, school reports, market activity reports, and valuation workbook reports, among others.
Can RPR be accessed via mobile devices?
Yes, RPR is accessible via both desktop and mobile devices, and there is an RPR Mobile app specifically designed for ease of use on smartphones and tablets.
How frequently is the data in RPR updated?
The data in RPR is updated regularly to ensure REALTORS® have access to the most current and accurate information available.
Related Terms
Multiple Listing Services (MLS):
A database established by cooperating real estate brokers to provide data about properties for sale. It enhances cooperation among brokers and ensures wide distribution of property information.
Demographic Data:
Statistical data about the characteristics of a population, such as age, gender, income level, and education, often used in real estate to understand market trends and target audiences.
Foreclosure:
The legal process in which a lender attempts to recover the balance owed on a defaulted loan by selling the property used as collateral.
National Association of REALTORS® (NAR):
A North American trade association for real estate professionals. Membership in NAR confers the designation of REALTOR®, adherence to a strict code of ethics, and access to various benefits, including the RPR service.
Online Resources
- Realtor Property Resource (RPR) Official Website: www.narrpr.com
- National Association of REALTORS®: www.nar.realtor
- Realtor Property Resource Mobile App Information: Android Google Play Store;
References
- National Association of REALTORS®, “About RPR,” accessed October 2023, www.narrpr.com/about.
- Realtor Magazine, “RPR for REALTORS®,” accessed October 2023, realtormag.realtor.org/rpr.
Suggested Books for Further Studies
- “The Data-Driven Real Estate Agent” by Jeff Lobb
- “Real Estate Market Analysis: Methods and Case Studies” by John Y. Campbell
- “Your First Year in Real Estate, 2nd Ed.” by Dirk Zeller
- “The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be!” by Gary Keller
