Realtors Property Resource®, a subsidiary of the National Association of Realtors®, reached a major user engagement milestone on its real estate data and analytics platform. As of December 31, 2018, engagement with RPR among NAR members soared to a record 14.7 million sessions—a notable 29.5 percent increase from 2017. Throughout 2018, Realtors® spent more than 100 million minutes researching properties and creating reports for consumers using the RPR platform. Additionally, RPR’s residential and commercial Mobile app surpassed 470,000 downloads, accounting for 36 percent of all RPR traffic.
“At RPR we’re focusing on delivering new features based on user feedback,” said RPR Chief Operating Officer and General Manager Jeff Young. “Many of these enhancements can be seen in the RPR Mobile app, including the new Buyer Tour feature and a refreshed map interface that brought with it new options such as drive time and distance search, school search, and parcel line overlay.”
As RPR enters 2019, the company has realigned around delivering increased member value combined with improved budget efficiencies that correlate directly with programs initiated by NAR, which announced numerous changes in 2018 as part of its own strategic realignment. Following an end-to-end review of its operations and product development, RPR was able to achieve a 14 percent reduction in its operating expenses in 2018 and an impressive 22 percent in 2019.
“We are thrilled to see RPR follow NAR’s lead in reexamining their core mission and how to best deliver on it,” said NAR CEO Bob Goldberg. “These efficiencies amount to the first reduction in RPR’s total operating budget since its creation in 2008, and position RPR to deliver its web and mobile platform for about $13.50 per member annually in 2019, included in their NAR dues.”
The cost reductions “in no way mean members will see less from RPR in the future,” added Janine Sieja, RPR senior vice-president of product management. “By examining what our members consider of the highest value for them and their consumers, RPR is reimagining some of its core functions. We are excited about incorporating training and other new features into our applications. We expect to build on 2018’s success and offer additional improvements while achieving continued growth in usage.”
RPR also saw record engagement from the brokerage/franchise industry, as well as its MLS and Association partners. RPR’s Broker Tool Sets reached a record 7,900 individual companies who have registered for the program, representing more than 525,000 Realtors®. RPR also ended the year with 94 percent of MLSs and Commercial Information Exchanges licensing their listing data to RPR, allowing Realtors® nationwide to utilize RPR’s array of reports with the most current MLS and CIE sourced market data.
“Partnerships with industry stakeholders are critically important to RPR. The key in 2019 will be putting greater resources into supporting the central position that brokers and MLSs play in the agent’s success with their consumers,” said Young. “By working closely with RPR’s industry partners in 2019 and evaluating how RPR can add benefit to their individual value propositions, we have the best opportunity to add value to the agent, which ultimately benefits the consumer.”
About Realtors Property Resource®
Realtors Property Resource, LLC®, a subsidiary of the National Association of Realtors®, is an exclusive online real estate database created to support the core competence of its members. Covering more than 160 million residential and commercial U.S. properties, RPR provides Realtors® with the analytical power to help clients make informed decisions while increasing efficiency in the marketplace. For more on RPR, visit blog.narrpr.com.