When it comes to working the metro Denver area, where inventory is scant and offers seem to come in the instant a property listing becomes public, Pat Shupe of EQUITY Colorado Real Estate points to Realtors Property Resource® (RPR®) as the key to staying one step ahead of the competition.
Created in 2009, RPR is a database of parcel-centric property, built upon more than 160 million properties. Closed to the public, RPR offers one streamlined system that REALTORS® can use based on their needs and the needs of their clients.
Information from multiple sources is available, including public records and tax assessment info; liens, stand-alone mortgages and refinancing loans; school district data, reviews, test scores and more.
“The local uptick in interested buyers is good because it keeps me busy, but it’s bad for buyers because there’s virtually nothing for them. By the time we get out the door, listing agents already have two or three buyers lining up with offers,” says Shupe.
While she began using RPR in 2011, Shupe notes that she was initially skeptical after looking at all the features, so she decided to give it a test run. “Since I was doing Broker Price Opinions for banks and brokerages, I initially used RPR to do a sniff test on these properties and RPR was coming in dead-on when I’d run valuation reports.”
When working with buyers and sellers today, the first thing Shupe does is run an RPR query on any property her clients are interested in viewing. “No matter how motivated a buyer might be, or how attractively a property presents in a listing, I always turn to RPR to do an initial sniff test,” says Shupe.
“Because things are flying, you have to have a contract in hand with the price being the only thing that needs to be filled in,” adds Shupe. “Having that RPR report gives my buyers a lot of confidence when it comes to successfully completing a real estate transaction. Either it comes out close to the listing price, or I can come up with a good number for them to use as an offer.
“The reports generated by RPR are excellent,” concludes Shupe, “and they make us look really good.”
For more information, please visit www.narrpr.com.