Dear NNRMLS Members,
If you have been following the latest news from NAR, Inman News, and other blogs, you know that some big initiatives that had been speculated upon for many months have now come into the light.
As reported by the National Association of REALTORS,
“The NAR Board of Directors at its 2015 meeting May 16 in Washington, D.C., approved a partnership between NAR and its wholly owned subsidiary Realtors Property Resource® and another company, UpStream RE, LLC, to create a data entry and collection system for the brokerage community using the RPR® advanced Multi-list platform (AMP™). The system will give brokerages a single place to input their listing data for distribution on multiple platforms online, including Realtor.com, local MLSs, and broker websites. The initiative will be funded using NAR operating reserves over 36 months, at a net amount not to exceed $12 million.”
To a brokerage that spans multiple markets, using Upstream could mean one listing input that could then pull all their listing inventory information, regardless of MLS market area, easily and securely to its various selected destinations including the brokerage back office system, the local MLS, broker IDX site and even 3rd party portals. It is easy to see the benefit to that brokerage. It is more difficult to measure the impact that these initiatives may have on our entire industry. We will continue to learn more as the project unfolds.
NNRMLS supports innovation that improves efficiency and success for our members. As you know the mission statement of NNRMLS is to “Keep the member central to the real estate transaction.” So we are hopeful that these new players will deliver efficiency that enriches the real estate transaction. NNRMLS will continue to disseminate accurate and timely listing data to our members.
Below are several resources and blog posts on this topic.
Project Upstream Revealed; by Victor Lund http://waves.wavgroup.com/2015/05/14/project-upstream-revealed/
RESO Ain’t No Pooh-Pooh; by Michael Wurzer
2015 NAR Midyear Legislative Meetings: Quick Takes, Without Much Thought; by Rob Hahn
NAR Board Approves Nationwide Broker Data Entry System; NAR, Compiled by Robert Freedman
Brokers bite back at the machine; by Brad Inman