Created in 2017 as part of the Tax Cuts and Jobs Act, the purpose of the federal government’s Qualified Opportunity Zone (QOZ) program is to drive economic growth through long-term investments in economically disadvantaged communities by offering tax incentives to investors.
RPR is excited to offer Opportunity Zones to its platform. This powerful data layer will allow REALTORS® to use RPR’s map interface to analyze and search for properties within the 8,700 Opportunity Zones throughout the U.S., in both the Residential and Commercial modes.
Residential practitioners who utilize Opportunity Zones will notice increased marketability of homes within the OZ, while Commercial practitioners are more likely to see less desirable properties turn into investment opportunities.
Through RPR, REALTORS® will search a geographic area, then choose to display the Opportunity Zones layer, which will then reveal shaded, peach-colored areas that qualify.
REALTORS® can then analyze all properties that fall in the Opportunity Zone, review economic and demographic statistics for the area, and create reports for investors about the buying potential. They will also be able to reach out to residents and business owners in the area about selling advantages through RPR’s recently launched Mailing Labels feature.
Watch this brief “How-To” video on how to locate and execute an Opportunity Zones search within RPR:
Also, be sure to download RPR’s printable Opportunity Zones Quick Start Guides. Each one offers step-by-step instructions and tips on how to search for Opportunity Zones within RPR:
- Residential: search properties within a geographic area, then choose to display the Opportunity Zones layer, which will then reveal shaded areas that qualify.
- Commercial: search for commercial properties within a geographic area, then choose to display the Opportunity Zones layer, which will then reveal shaded areas that qualify.
- Economic Area Report: Association staff and Federal Political Coordinators can create Economic Area Reports for properties in Opportunity Zones.
- Market Data: Brokers, Associations and MLSs can use the Market Data Tool to run reports on properties that fall within an Opportunity Zone.
Visit https://www.narrpr.com/ for more information.