Special Report from the NAR Board of Directors Meeting, November 16, 2009Â
The Board of Directors had its first look at a powerful new database that will be available exclusively to REALTORSÂ® beginning in April. The REALTORSÂ® Property ResourceÂ will contain rich data on more than 140 million properties; the interface is made possible through the integration of technology and data, according to RPR CEO Dale Ross. NAR is investing $20 million for a five-year build-out, which will cover licensing and development of the front-end and acquisition of data from LPS, which operates Cyberhomes, and other sources.
RPR President Marty Frame walked the board through the site’s features. Members will access the site using their NRDS number. They’ll be able to view each property’s characteristics and transaction history and add information based on their personal knowledge of the property. The system is expected to save members millions of dollars in data acquisition costs, and access to members will be free. NAR 2009 President Charles McMillan called the launch of RPR a “watershed moment.”
The board also was given a tour of NAR’s new consumer web site, HouseLogic, launched its beta version on Nov. 12, during the annual conference. HouseLogic was developed by NAR to help its members extend their relationship with consumers through the lifecycle of homeownership and to provide an opportunity for homeowners and REALTORSÂ® to speak together to federal legislators on public policy issues of common interest.
The site is a comprehensive resource for homeowners of the information they need to protect, maintain and enhance the value of their home. The site also gives members free access to various content packages from the site that they can use in their own marketing efforts, at www.houselogic.com/members.
The directors also took a number of actions on committee recommendations: