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Updated March 30, 2024 Reviewed by Reviewed by JeFreda R. BrownDr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. She is the CEO of Xaris Financial Enterprises and a course facilitator for Cornell University.
The Realtors Property Resource (RPR) is a digital platform and database managed by the National Association of Realtors (NAR), as a benefit for its members, Along with millions of property listings, it includes information on zoning, permits, mortgages, liens, neighborhoods and schools, and foreclosures.
The NAR is a trade association in the U.S. created to promote the commercial and residential real estate profession and to foster professional behavior and standards within it. Known as realtors, its members include agents, appraisers, brokers, counselors, property managers, salespeople, attorneys, and others who work in the real estate industry.
The NAR developed the Realtors Property Resource database to help real estate professionals better meet the needs of their clients. Via the RPR, a realtor receives online access to comprehensive real estate market data, analytics, and reports for each of NAR's constituencies. The RPR includes a national database of more than 147 million residential and commercial properties in the U.S.
Accessed through desktop, iOS, and Android devices, RPR is available to all realtors and has tools for residential and commercial agents and brokers, appraisers, associations, and multiple listing service companies. But it is exclusively available to NAR members and access to it is included in yearly NAR dues. The only way for a non-realtor to access this information is through an RPR report that has been created, branded, and sent by a realtor.
A wholly owned subsidiary of the National Association of Realtors, the Realtors Property Resource was incorporated in November 2009 and is 100% owned, operated, and controlled by the members of NAR.
The Realtor Property Resource is one of several National Association of Realtor member benefits. Other benefits include personal insurance options, electronics and mobile technology, travel and automotive discounts, financial services and risk management programs, office supplies and services, marketing resources, digital and printed books, journals, reports and guides, research and statistics, consumer outreach, and educational tools. The NAR has 50 state associations as well as a number of affiliate organizations.
Along with the other numerous benefits to its members, the NAR has a research division that collects and disseminates real estate data and conducts economic analysis. The NAR then sends out this information to its members in the form of press releases, reports, presentations, and daily blog posts about the overall economy and housing market.
NAR has more than one million members and promotes professional development, research, and information exchange between its members and the public and government, with the intent of preserving the free enterprise system and the right to own real property.
On March 15, 2024, the National Association of Realtors announced a settlement to a class-action lawsuit by homeowners who accused the association of inflating the commissions charged by its members. As part of the $418 million settlement, the NAR agreed that it would no longer require brokers listing properties to offer upfront compensation to the buyer's agent. The new rule, which has yet to be approved by the court, is expected to give buyers more flexibility in negotiating commissions.
The National Association of Realtors uses a combination of public and private data sources for the Realtors Property Resource. Data on government boundaries, neighborhood demographics, and flood zones are based on U.S. Census data and publications from local, state, and federal government bodies. Data on traffic, walkability, schools, and liveability from a variety of private research firms, while information on property listings and rent comes from multiple listing service (MLS) data.
The Realtors Valuation Model is a proprietary metric used to measure the value of a property, based on publicly available property listings as well as data for sold and off-market properties. The RVM is calculated by the National Association of Realtors, and available through the Realtors Property Resource.
A realtor is a real estate agent who is also a member of the National Association of Realtors, a trade organization representing the real estate industry. Although there is no requirement for a real estate agent to join the NAR, members have access to more market information through the NAR's multiple listing services (MLS) and the Realtors Property Resource. All real estate agents must follow their state's licensing requirements, while realtors take an additional 2.5 hours of ethics training every three years.
The Realtors Property Resource is a digital database available to members of the National Association of Realtors, Based on public and private datasets, the RPR has information on neighborhood demographics, traffic data, comparable prices, and other information to help realtors identify suitable properties for their clients.
