RPR Archives - Page 3 of 4

Is NorthstarMLS’ implementation of “RPR View™” a peak at AMP?

September 29th, 2015

NorthstarMLS announced a data share solution powered by RPR, dubbed “RPR View™“.

“RPR View™, consolidated into RPR, is already available to you through your NorthstarMLS subscription. You may now access listings in RPR (including offers of compensation) from these Minnesota State MLS’s:

Duluth Area Association of Realtors
Greater Alexandria Area Association of Realtors
Lake Region Association of Realtors (Fergus Falls)
Northwest Minnesota Association of Realtors (Bemidji)
Realtor Association of Southern MN (Mankato)
Southeast Minnesota Association of Realtors (Rochester/Winona)
West Central Association of Realtors (Willmar)

A couple things:

1. I guess this could count as part of the “alternative front end” trend we are seeing.

2. A clever way to using RPR data, and a proof of concept for its backend services (which is what they are pushing for with AMP)

RPR pivots

May 25th, 2015

I’ve been on a bunch of airplanes since NAR Midyear, have I missed anything? ; )

Oh yeah, NAR Board of Directors approved RPR’s new initiative, “RPR Upstream/AMP”. And the world went batshit crazy.

I found the video above and I think it does an excellent job of outlining what RPR is trying to accomplish, so lets start with that. So here’s a few comments and advice.

1. It’s all about the listing input module. Everyone I talk to says this is extremely difficult. You need to nail it. Seems like this type of tech (like most) benefits from years of iteration. Consider looking at existing solutions.

2. Find a way to partner with MLS providers. RPR got a rough start out of the gate because they didn’t want to do any revenue share with MLS providers. That caused some bad blood and brought in a new entrant (Corelogic) to the mix. (I’m not talking about sharing revenue here per se, just the perception of not coming up with any sort of compromise.) Don’t make the same mistake again. Your goal is to aggregate property data from brokers, they’ve (MLS Providers) been doing that successfully for decades already. This is not about “reaching out” to them, your job should be to get them onboard and excited about this new effort. Easy? No. Necessary? Yes. Like it or not, you need their support and expertise.

3. Cut something. What you trying to accomplish is hugely ambitious on its own. Consider either cutting an existing product line or feature set. You are going to need all the bandwidth you can get.

4. Be humble.

An attorney, a pair of consultants, and an MLS exec walk in to a bar….

May 4th, 2015

Interesting, if not a little bizarre, read from The Notorious R.O.B. on the much rumored RPR pivot (I think) ….

Project Trim Tab: From Dream to Reality

“The dream of fundamentally improving the MLS technology platform has been one that the industry has talked about for years. We have seen a surge in credit-taking amongst the “thought leaders” within the industry in recent weeks, as RPR has started to shed light on their Advanced Multi-List Platform, aka AMP™. But the concept of a flexible MLS, powered by modern API’s (Application Programming Interface), which allows for flexibility and innovation has been around since at least the mid 2000’s when technology companies like Google, Facebook, and Salesforce debuted the concept of API’s and “mashups”.

As is said, success has many fathers. But in this case, many of those were absentee dads at best. The real story of what is possibly the biggest advance in the MLS industry since the advent of the Internet itself cannot be told without mentioning the central role of SIRMLS.

As I was the author and architect of this overall effort, I know better than most just how valuable SIRMLS and its leadership have been, and remain.”

NAR double downs on RPR.

May 22nd, 2014

NAR will dip into reserves as RPR funding boosted to $22 million per year

Andrea Brambila for Inman News:

“Since 2009, NAR has spent $85 million on RPR, including $19 million in expenditures last year alone, according to NAR Finance Committee reports. By the end of 2014, the trade group will have spent $98.9 million on RPR, an amount that is projected to rise to $120.8 million by the end of 2015 and $142.7 million by the end of 2016.”

Almost 100 million dollars? What happens when you login to RPR, do you shit gold?

“RPR provides property information and data tools to all Realtors, but its business model originally assumed that the venture would become self-sustaining by 2012 by selling analytics products such as property valuations to lenders and government agencies. In the four years since its launch, RPR has struggled to make money, generating a total of $586,270 in revenue from analytics as of December 2013.”

$586,270 – $100,000,000 is a loss of -$994,137,730. Yup, sounds about right.

“The NAR Finance Committee approved net reductions to reserves in order to provide members with “exciting new and enhanced programming.”

Someone famous once said, if you are in a hole and want to get out, the first thing you do is stop digging.

“She said RPR will also use the funding “to add additional data sources, such as walkability scores, support the release of RPR’s mobile application for iPhone and Android (currently being tested), and enhance the RPR platform to include new user-requested features and advanced functionality.”

Just of the record, I pay less than $400 per month for Walkability scores in Cloud CMA. The fact they even mention this speaks volumes.

“NAR expects its 2015 operating budget will consist of $154.8 million in gross revenue and program expenses of $158.9 million. RPR is by far the program with the biggest budget.”

The National Association of REALTORS is not a technology company, but RPR has the biggest budget? Someone is getting rich here.

Nationstar acquires Real Estate Digital (RED) for 18 million in cash.

May 8th, 2014

NATIONSTAR REPORTS FIRST QUARTER 2014 FINANCIAL RESULTS & STRATEGIC ACQUISITION

“Nationstar Mortgage Holdings Inc. (NYSE: NSM) (“Nationstar”), a leading residential mortgage services company, today announced that its fee-based real estate services business, Solutionstar entered into a definitive agreement to acquire substantially all of the assets of Real Estate Digital and its affiliate for USD 18m in cash in May.”

This is the HUGE news. Back in 2011 Jay Gaskill structured a management buy out of the franchise/broker and agent division of LPS. A mere 3 years later they flip for 18 million.

For those who don’t know, RED basically powers online real estate. They have one of the largest pools of IDX feeds in the industry, powering many large brokerages, including HomeServices brokerages along with Berkshire Hathaway and also Real Living. They act as a data provider for many other 3rd party software companies. And of course they are the data aggregator for NAR’s Realtor Property Resource (RPR). This brings about many questions.

My congrats go out to the entire team at RED.

Kristen

May 30th, 2013

A little birdy told me that Kristen Carr has a new role at RPR! She’s now Manager, Partner Integrations. I’ve seen some of the stuff that RPR is making available to developers and I have to say I’m pretty impressed. Congrats to Kristen and RPR!

Mona Steen leaving RPR?

May 7th, 2013

The end is nigh…

RPR Help Desk Rep who posted false comment gets fired?

March 7th, 2013

This has been a bizarre week. In my post yesterday I pointed out that comment left on a post entitled “WTF RPR?” by industry vet Brian Boero was found out to be fake. It turned out “Katie” actually works for RPR’s help desk, and her real name is Pam.

Today Inman News confirmed the story.

“In a statement to Inman News, Mike DelGaudio, RPR’s head of support, said: “I want to go on record and say that this action was in no way condoned or authorized by anyone at RPR. The poor judgment of this help desk representative has been addressed.”

Well if addressed means, they fired her. Then they sure addressed her, alright. Because according to a comment left by Pam she states.

“At the time of my reply on the blog, I thought what I was doing was right, standing up for a company I believe in. But I went about it the wrong way and made an embarrassing mistake that while I acted alone, made the company look bad. I apologize for my error in judgment. It was the right thing for the company to let me go and I support their decision. I just hope that my personal mistake doesn’t prevent the company from being heard and get it’s chance to really make a difference for Realtors everywhere.”

They fired her? Her? A loyal employee (too loyal?). Not a write up? A reprimand? I think we’ve come full circle: What. The. Fuck. RPR?

Talk about injustice. I hope its not true. In any case if anyone has a lead to find Pam a job please post something in the comments.

RPR shoots itself in the foot…again.

March 6th, 2013

I keep trying NOT to write about RPR. It has gotten to the point where I feel like a bully in the school yard picking on the “special needs” kid at recess. But I need to express my personal opinion on the latest shit they are trying to pull.

Recently RPR announced a deal where they partnered with LPS to use the MLS data (MLS data which they are not paying for BTW, but that’s another story) to match against loan servicer loan portfolios.

Sounds like a good idea right? Loan servicers get to find out when their clients have listed their home for sale and can be first in line to offer them a new loan (presumably on the next house they purchase). Essentially they are selling mortgage leads.

Problem is that many brokers have loan companies themselves (and other transaction based products) and rely on that revenue to operate their businesses profitably. But now they may not have a chance to win that repeat business again. RPR has cut them out, and put LPS in.

Brian Boero of 1000watt Consulting pointed out this scenario in a blog post titled “WTF RPR?“. And here is starts getting weird. First someone commented on Brian’s post named “Katie”, but her name wasn’t Katie at all, as Jeff Bernheisel internet super sleuth found out. “Katie”, it turns out, is tech support rep from RPR, possibly named Pam. Really RPR, fake comments? Stay classy.

Then if that wasn’t bad enough Dale Ross, RPR CEO, took to the keyboard himself and wrote a blog post “Response to 1000watt.net Blog Post“. The post is absurd and a crude attempt at spin control and misdirection. Plus, you have to question the judgement on why to even respond. One thing that really stood out to me was how he referred to Brian Boero as a “blogger”. A “blogger”? Did you know that Brian has been in the real estate industry for over 16 years? Did you know Brian’s company, 1000watt consulting, works with some of the largest, most well respected brokers and franchises in the country? Did you know that Brian was once the president of Inman News? Did you know that Brian speaks to thousands of REALTORS every year? In short, he’s not a “blogger”.

Today Brian responded to Dale Ross’s post and picked it apart like an expert butcher. Go read it and decide for yourself what leg RPR has to stand on.

Here’s the thing. I’m not even sure RPR even thought of the consequences that this type of deal could bring to brokers. But to spin, lie (posting fake comments), and condescend is just bullshit. Shame on you RPR.

This is just another in a long line of missteps for RPR. When is this going to stop? When will NAR just shut this thing down? $58 million down the tubes, $18 million a year to keep it going, low usage, and now they are undercutting the very members they have been hired to serve. I’ll ask the question again; Why hasn’t someone been fired over this?

Never have, never will…

November 13th, 2012

Love this new ad for Top Producer.

The last bullet point is the kicker…