NAR Board Approves Nationwide Listing Data Entry System
The NAR Board of Directors has voted to approve a partnership to create an online system for all listing data posted by real estate brokerages, creating a single back-end entry point for distributing listings to MLSs, brokerage websites, Realtor.com® and other sites chosen by the broker.
The arrangement will bring together NAR and its wholly owned REALTORS Property Resource® (RPR) subsidiary with UpStream RE, LLC, a company formed by a coalition of brokerages, networks and national franchises. The organizations will work together to develop a system based on the RPR® Advanced Multi-list Platform (AMP™) that will allow brokerages to use one application to input data for multiple platforms, including Realtor.com, local MLSs and broker websites. The initiative, approved by the Board on May 16 at the 2015 REALTORS® Legislative Meetings and Trade Expo in Washington, will be funded using NAR operating reserves.
Speaking before the Board voted, RPR CEO Dale Ross said the company has been successful in its mission of providing property information to REALTORS® on the web and via a popular mobile app and needs to act resolutely to keep pace as technology evolves. “The train has left the station,” he said, referring to the real estate industry’s desire to develop a unified data-entry tool. “Technology moves fast.”
NAR CEO Dale Stinton added that the partnership is a key strategic move for NAR and reflects the organization’s tradition of making forward-looking investments in the real estate industry.