The National Association of Realtors (NAR) has acquired licensed data and secured data aggregation services from LPS Real Estate group, a wholly owned subsidiary of Lender Processing Services Inc.
NAR will use the assets to develop the Realtors Property Resource (RPR) – what the group calls a ‘parcel-centric’ information database covering more than 147 million property parcels. NAR is planning to launch RPR in the second quarter of next year.
‘These acquisitions will allow Realtor interests to control the program and the content," says NAR CEO Dale Stinton. "Realtors need to respond quickly to today's tech-savvy consumers, and the RPR provides a means for multiple listing services, commercial information exchanges and real estate brokerage business models to support the Realtor community, rather than requiring Realtors to purchase data aggregated by third parties."
RPR will provide nationwide access to public-record information such as tax and assessment data, liens, zoning, permits, environmental information, and information on neighborhoods, school district and community demographics, along with advanced search features for property searchers, as well as market-to-market comparisons and referral opportunities not currently available.
SOURCE: National Association of Realtors