Realtors Property Resource (RPR) has been rolled out for over a 100 MLSs now. Arizona just got theirs, and the information there has been overwhelming. RPR was developed by National Association of Realtors (NAR) to combat Trulia, Zillow, and other real estate scraper sites. What it offers is much more detail than traditional listing info, but the info is only available, if you’re side by side with your Realtor. And that’s the catch! Will it work?
Here are some of the key features:
- Search all properties throughout the country. Realtor’s information will be available if their MLS participates in RPR.
- See all FSBOs, foreclosures, and trustee sales in addition to MLS data
- Can search by owner’s name
- For each neighborhood, county, and state, shows:
- Estimated home value in neighborhood, county, and state
- 12 month change in median estimated home value
- Median listing price
- 12 month change in median listing price
- Median days on market
- 12 month change in days on market
- 12 month change in sales volume
- Parcel data for anywhere in the country
The coolest feature by far, though is the heat map to show which areas are appreciating and depreciating.The red depicts areas that have lost value, and the blue depicts areas that have gained value. Although this is a fantastic feature, this may lead to blockbusting (highly illegal). It will also probably lead to vicious cycles where people will want to move into the blue areas leading that area to become more cost-prohibitive, and people will leave the red areas causing them to be more distressed.
Despite the fact that it is illegal for us to discuss crime, familial situations, and schools, there are also:
- Crime per 100,000 residents in neighborhood (note per 100,000 so you can compare apple to apple.)
- Population of children by age group
- Population of adults by age group
- Current lending info on subject property
- Side by side comparison between public record and listing info for subject property
- All public records about property, including notice of defaults/trustee sale and detailed previous sales history
- Shows income levels in area
- Even shows how the area votes in presidential elections!
At this time, it still cannot search for rentals. This is an interesting venture, and NAR has finally embraced the Realtors that pay their dues.