Nat'l Assoc. of REALTORS to launch new UNIVERSAL MLS!

The National Association of Realtors® has acquired technology to create a database of all properties in the United States so Realtors® can better assist consumers in a high-tech, fast-paced business world. The technology acquisition includes licensed data and secured data aggregation services from LPS Real Estate Group, a wholly owned subsidiary of Lender Processing Services Inc. NAR will use the assets to develop the Realtors® Property Resource™, a parcel-centric information database covering all of the more than 147 million property parcels in the country as a resource for NAR members. NAR is planning to launch RPR™ in the second quarter 2010.

NAR CEO Dale Stinton said, "These acquisitions will allow Realtor® interests to control the program and the content. Realtors® need to respond quickly to today's tech-savvy consumers, and the RPR provides a means for multiple listing services (MLS), commercial information exchanges (CIEs) and real estate brokerage business models to support the Realtor® community, rather than requiring Realtors® to purchase data aggregated by third parties." RPR(TM) is not a national MLS, and will carry no offers of cooperation and compensation, Stinton added. "It is a private, NAR members-only benefit. The assets acquired by NAR will be directed through a wholly owned subsidiary corporation, Realtors Property Resource, LLC," Stinton said.