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RPR begins 2013 With New Product Development

CEO Update January 2013

RPR enters 2013 with the goal of delivering new RPR products and features to our remaining two RPR Constituents. The RPR Association/MLS Dashboard and the RPR Appraiser Tools are currently being developed with the assistance of Task Forces of REALTOR® volunteer leadership.

The Association/MLS Dashboard will focus on providing staff and leadership with the following tools:

  • Member/Users statistics
  • Market analytics
  • Media tools
  • Leadership communication

The Appraiser Tools will offer REALTORS® working in the appraisal sector access to:

  • Refined search, selection, and adjustment of recent sales and competitive listings
  • More granular location data
  • Field import: flood and legal
  • Market conditions and neighborhood commentary
  • Implemented through a focus on forms data
  • Print, save, manage, and report

Both sets of constituent products are scheduled to begin Beta testing in Q2 2013.

Appraisal Tools Graphic

RPR Version 1.20

In conjunction with the RPR Constituent product development, RPR’s Development Team has been finalizing RPR version 1.20, which will go live next week. This version of the application includes a number of enhancements to RPR tools such as Comps Analysis and Reporting.

Since delivering the popular Comps Analysis tool, we have received considerable feedback from REALTORS® with desired enhancements. As a result in version 1.20 we added the ability to display only distressed properties, expanding from traditional filtering such as active listings, pending sales and off-market properties. We have also added a new date-based search function, the ability to see expanded details on each comp, while also implementing a new way to view the search parameters used in the comps analysis.

Also in version 1.20, the RPR Report cover can be personalized to include a unique name for a property or neighborhood. This new name will appear in place of the property address or the geographic area on the report cover.

RPR Reports

Live Training

The RPR Blog calendar has included our online training for RPR Residential, Broker Tools and Commercial since Q3 2012. In mid-January, RPR added a new United States Map to its existing calendar system, allowing Users to easily browse live training and events by state. New opportunities are being added daily, so look for the next class or event at a location near you.

Comments

  1. TO: Dale Ross & Jeff Young (Realtors Property Resource)

    Hi Dale & Jeff:

    Last weekend I began to explore RPR. There are quite a few areas where inaccuracies prevent a reliable result report. I have communicated that to the support staff, however they were defensive and seemed unable and/or unwilling to understand how we do business in the field and why we need reliable data for our clients.

    The RVM auto selection algorithm is inaccurate, at least in our MLS (MRIS). There is no way for an agent, knowledgeable in their market area, to correct these errant auto-selections and RPR staff are also unable to offer a solution. Use of the “Refined Value” is completely inadequate where grossly improper comps were auto-selected to begin with.

    While hand selecting comps allows map-based geographic definition of the market area, the RVM does not and pulls in anything in the subject’s zip code. Values are neighborhood-by-neighborhood, NOT by zip code.

    For some mysterious reason Comp Search results in only a partial list of comparable solds for selection, omitting many that are more far more appropriate. I have no idea why. Some of the recent solds show up erroneously in the Off Market section, omitting the Sold Price and substituting the errant RVM estimated value. This really is a big problem.

    Most Comp side-by-side reports do not include photos even though the detail sheet(s) does(do).

    The Comp Detail sheets show the sold price, but also show an errant RVM (Current Estimated Value) which if different, invalidates the adjusted comparable value.

    I think RPR has great possibilities and promise, but until there is data integrity, the result reports will be unusable in my market, at least by Realtors knowledgeable in proper valuation methodology.

    Further, the stated intent to sell the RPR analytics products to non-NAR members will never take-off in the current state of the product’s data integrity.

    Should you ever enlist working or focus groups for product improvement, I would be glad to participate. I am highly skilled, certified and experienced in real property valuation.

    Regards,

    Clay Kime (703) 625-2652
    RE/MAX Preferred Properties
    Vienna, VA

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