MLSs and the new RPR and HouseLogic

As some may know, NAR has announced Realtor Property Resource, LLC., a wholly owned subsidiary whose mission is to develop a comprehensive real estate information database. The application they are using to demonstrate their technology is a property search that combines multiple data sources: MLS, tax, demographic, psychographic and census. The system will also create a proprietary RVM - Realtor Valuation Model - that will be used by Freddie Mac and Fannie Mae.

This project has been in development for over 2 years. It has resulted from NAR's acquisition of Cyberhomes and its technology development. NAR has invested $12MM for RPR which will be repaid in 3 to 5 years.

After seeing the powerpoint presentation, it appears that RPR will be a wonderfully robust tool for NAR members only. However, the water gets a little muddy when you delve a little deeper about the services the software provides.

It appears that there are many features that rival the best technologies that MLS vendors provide. In fact, it would be easy to envision an RPR that would enable a centralized MLS software service.

MLSListings is cooperating with RPR. In fact, their actual demonstrations use our data set after implementing a RETS feed from our technology group.

As with all change, new businesses and business models there are many things to be "hammered out". But change is inevitable. I'm glad that MLSListings is operating from a "glass half full" attitude. There are many here at NAR that don't feel this way. They're predicting doom and gloom.

For the other news today, NAR is updating its HouseLogic website. This site will be a comprehensive resource for the public. It takes the concept of ManageMyHome (from Sears) to a completely different level. Essentially, NAR is becoming a content delivery company. I wonder if they know what this will mean for them?

Anyway, IMHO we should embrace change. You can either get on the bus or get trampled underneath it.

What do you think?