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NAR-RPR 'game changing' pact simplifies data entry

WASHINGTON – Nov. 6, 2015 – The National Association of Realtors® (NAR) and its wholly owned subsidiary, Realtors Property Resource (RPR) signed a technology agreement with Upstream to create an industry-owned and controlled data management company. The agreement is considered a major step forward for Upstream.
Upstream will be a behind-the-scenes tool to simplify listing data entry and minimize paperwork. Currently, a single listing may be keyed in several times for different purposes – for entry in the local MLS, other MLSs, the broker’s own website and one or more advertising websites, for example. Under Upstream, data will be entered only once. After that, MLSs and vendors will download their listing data from Upstream.
“As leaders in organized real estate, NAR and RPR have looked forward to the opportunity to work with the brokerage industry for many years on an initiative that truly can be thought of as ‘game changing,'” says NAR President Chris Polychron. “This initiative will be done in full collaboration with the real estate brokerage and franchise community to deliver a high-value benefit to companies of all sizes nationwide, ultimately benefitting NAR’s one million-plus members.”
“Upstream is not a multiple listing service, or a service that interfaces with the public in any way,” said Robert Moline, chairman of the UpstreamRE, LLC Board of Managers. “The platform is designed as a true neutral technology, giving no advantage to those companies involved with the initial vision, but rather, extending its value proposition to agents in all brokerage firms, franchises and networks. Partnering with NAR for the financial backing and RPR for its impressive technology and data capabilities is a win-win for Upstream and the industry.”
Upstream operations
NAR says the Upstream platform will follow industry standards to ensure the quality and accessibility of data across the industry. It will manage the distribution of information through a rules-based engine and support participating brokers using RPR’s framework.
Yesterday’s agreement officially launches an initiative that debuted in May 2015 after NAR’s Board of Directors agreed to allocate significant resources to fund Upstream technology and to deploy it through NAR’s RPR division.
“NAR’s investment in the RPR technology platform has created the largest and most comprehensive database in the industry,” says RPR CEO Dale Ross.
Upstream is currently hiring an owner’s representative to work directly with RPR and conducting a search for a CEO to head the company. Beta testing is slated to begin in the second quarter of 2016 in multiple markets. After that, Upstream will be available to all brokerages nationwide that choose to participate.
Upstream’s board met Oct. 28, 2015, and voted to approve the current agreement negotiated jointly by Upstream, RPR and NAR leadership. The board will continue to provide strategic oversight; RPR will be responsible for development, implementation, operations, training and support. RPR, NAR and Upstream will all market the project.
The Upstream board of managers includes representatives of Berkshire Hathaway Home Services, Century 21, Coldwell-Banker, ERA, Keller Williams, Leading Real Estate Companies of the World, The Realty Alliance, RE/MAX, and non-affiliated brokerages.
© 2015 Florida Realtors®
 
Source: Florida Realtors Feed

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