RISMEDIA, October 6, 2010—Sunnyvale, Calif.-based MLSListings, Inc. is one of the first multiple listing service (MLS) organizations in the country to make Realtors® Property Resource™ (RPR) available exclusively for its members, the organization has announced. RPR provides critical, location-specific data that will give member broker/agents and their customers a real competitive advantage in a volatile real estate climate, MLSListings says.
According to the organization, RPR combines various location-specific public and historic records with licensed, timely MLS data to create a Realtors Valuation Model™ (RVM), which estimates a home’s value in ways far more targeted and timely than the traditional Automated Valuation Model (AVM) products currently available to mortgage lenders and servicers, says the company. The use of MLS data will create an automated estimate that is superior to the AVM products, which are today derived from public records only and sold to lending and loan servicing institutions.
According to Jim Harrison, MLSListings President and CEO, the RVM offers member real estate agents a new way to help their clients make the best pricing choices in today’s fluctuating marketplace.
“We believe now more than ever, consumers need Realtors to help them navigate the many sources of information and help them get expert advice on real estate prices and trends,” said Harrison. “However, the RVM is not intended to take the place of an appraisal.”
“As an early adopter of RPR, MLSListings understands the value this resource brings to the real estate community,” said Dale Ross, RPR CEO. “Their involvement, beginning as one of 13 beta sites during the development process of the application–and rollout within their own membership–has helped RPR spearhead additional partnerships with more than 100 MLSs nationwide.”
An initiative of the National Association of Realtors®, RPR provides a single entry point for access to a compilation of tax and assessments data; property data; neighborhood, school, distressed property and foreclosure data, demographic and psychographic information; maps, trends and reports.
For more information, please visit www.mlslistings.com.