Realtors Property ResourceĀ® (RPRĀ®) has announced cuts to its funding, beginning with the immediate suspension of its Advanced Multi-List Platform (AMP), the National Association of REALTORSĀ® (NAR) subsidiary recently announced. According to an association release, the move will save “several million dollars” this year.
Additionally, RPR intends to pare back operating costs by at least 20 percent in 2019. It will continue to offer its reports and tools to REALTORSĀ® through its app and website.
NAR and RPR intend to reroute the savings for “other higher-priority NAR initiatives,” according to the release.
The announcement follows an organizational review; in January, NAR announced changes to its leadership and structure.
“I vowed a full review of the organization and its programs when I assumed the role of CEO to ensure we provide the best value to our members,” says Bob Goldberg, CEO of NAR. “Suspending funding for AMP will allow RPR to refocus its resources on delivering the best user experience to REALTORSĀ®. NAR will continue offering its full support to the MLS and MLS-vendor community as it moves toward an environment that fosters greater innovation and allows for faster and easier technology integration.”
According to the release, Goldberg made the decision to cease funding with the support of NAR’s Leadership Team and RPR’s senior management.
“RPR’s goal has always been to support the core competence of its members by creating a national platform of property information; suspending AMP development allows RPR to refocus on that mission and our core member benefit products, as well as ensure delivery of Upstream so that brokers have more control over their listing data,” says Dale Ross, CEO of RPR.
NAR has approved funding for Upstream, one of many data management platforms in progress, through 2018. RPR currently has data licensing relationships with 95 percent of MLSs in the U.S.
Stay tuned to RISMedia for more developments.
For more information, please visit www.narrpr.com.
For the latest real estate news and trends, bookmarkĀ RISMedia.com.