CEO Update – September 2017

RPR Releases Version 1.64

On September 12, 2017, RPR released version 1.64, marking the 64th product release since the launch of the Residential Platform in September 2010. In this release, RPR’s new Comp Analysis Express, previously offered on smartphones only, has been expanded to tablet. Also the feature now includes a new map interface for selecting comparable properties.

In addition, REALTORS® who email RPR reports can now track when the last recipient has viewed the report. The September release also includes updates to traffic counts and points of interest (POI).

To read more on the September 2017 release, visit the RPR Customer Support site.

RPR Partners with RESO on first DataComp

The Real Estate Standards Organization (RESO) recently announced DataComp, its first-ever data competition. Realtors Property Resource is proud to both sponsor and participate in the event, through its innovative AMP™ Application Program Interface (API). RPR has long standing support for the mission of RESO, serving on its Board of Directors and numerous work groups.

“RESO DataComp is open to all tech companies, startups, colleges, incubators and others who believe they have the next ‘big idea’ that could revolutionize real estate through data,” said Jeremy Crawford, CEO of RESO.

RESO Web API compliant providers available during the competition will include platforms from RPR AMP, FBS’s Spark API, California Regional MLS’s API, and Zillow Group’s Retsly. Live real-time MLS data will be provided by Sandicor, California Regional MLS, Arizona Regional MLS, Austin Central Texas Realty Information Service, and other datasets within the RPR AMP platform. Participants will also have access to tax data provided through RPR AMP and Retsly.

“RESO’s DataComp is a great example of how the industry’s leading technology companies can create an environment of collaboration and innovation,” said RPR CEO Dale Ross. “RPR’s development team has been working closely with RESO and we are very excited to see what the tech companies participating in the competition will create.”

The competition began on September 17, 2017, and will culminate in a live demonstration before a distinguished panel of industry judges on October 17, 2017, in San Diego during the RESO fall conference.

Tech Insights: Real Estate Tech Disruption

In Real Estate Tech is Ripe for Disruption and These 3 Companies Are Moving In (Inc.com, Sept. 7, 2017), Matt Hunckler, Founder and CEO of Verge states, “There has been much ado about how real estate is an industry ripe for disruption, and a lot of speculation as to exactly how it will occur. Yet companies across the country already have boots on the ground, clearing a path for disruption to follow.”

The article highlights three companies which are “disrupting” the real estate space, including:

  • RPR’s API-based AMP system, which reimagines the architecture of the modern MLS by providing technology that opens the databases to access for both input and retrieval of property data.
  • Realync, which enables live virtual tours and open-houses as well as pre-recorded video to allow for the convenience that Millennials crave.
  • Tenant Tracker focuses on tracking the critical dates, timelines, contacts, and processes –– from Letter of Intent to a tenant opening for business –– into the cloud.

Each of these companies are working to provide solutions to existing problems, in addition to creating efficiencies in the real estate space. But does this constitute “disruption?” In looking at RPR, its mission is not to disrupt, but to resource agents, brokers, Associations, and MLSs with industry leading tools. What may qualify RPR as a disruptor is the level of adoption it has achieved, measured not just by agent engagement, but through varying facets of adoption, such as mobile downloads, Broker Tool Set, Economic Area Reports and Legislative Resources, and nationwide data sharing platforms.

When thinking of “disruption,” a recent quote from Jeff Bezos, CEO of Amazon comes to mind. “When people say that an entrant is disruptive in an industry, what they really mean is that customers are adopting that new way. At Amazon, we’ve had a lot of inventions that we were very excited about, and customers didn’t care at all. And believe me, those inventions were not disruptive in any way. The only thing that’s disruptive is customer adoption. If you can invent a better way, and if customers agree that it’s a better way, then they will use that.”

5 Key Social Media Strategies for Agents

A recent RPR study reveals that real estate agents using Facebook as part of their social marketing strategy post listings more than any other type of content, yet fewer than half report measurable outcomes. RPR has been posting a number of articles, and passing on tips and strategies shared by RPR users across the country, such as our recent blog post, Customizing Facebook Ad Manager to Suit Your Particular Audience Needs/Interests.

So what can REALTORS® do to consistently inform, engage, and grow their sphere of influence above and beyond posting listings? RPR asked survey respondents to share their top social media marketing tips. Here are the top five takeaways.

MyRPR Spotlight

This month’s MyRPR spotlight takes us to the midwest, where you will find Karen Becker, CEO of Southeast Minnesota Realtors®. Karen recently attended a region’s annual housing summit which discussed the future of housing in her area. The event is not known for inviting real estate professionals to attend. Karen sought data that highlighted area housing affordability for minimum wage workers. She also searched for what city planners should do to sustain and build developments that ensure the community continues to meet the needs of its residents.

With RPR’s Local Area Economic Report in hand, Karen attended a housing summit and supplied the data they need to make informed decisions. Karen views the economic report as a conversation starter and long-term relationship builder. “While at the housing summit, I handed the report to staff and mentioned that I’d be happy to provide them the information on an ongoing basis,” she said. “They immediately asked if I could run more reports, this time for different areas.”

For details on how Karen uses the RPR Economic Reports to impress congressional leaders and community planners, visit the RPR blog.

Sincerely,

Dale L. Ross
Chief Executive Officer
Realtors Property Resource®, LLC
Chicago, IL

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