RPR For Your Business
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- Trevor Price
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1 RPR For Your Business What is RPR? RPR (Realtors Property Resource) is a member benefit from the National Association of REALTORS and is provided to you at no additional charge. Logging in RPR is in our TARMLSGateway.com SSO (single sign-on) meaning it does not require a username and password. However, a username/password will be required for the mobile app. Profile management This information is NOT fed from any other source, needs to be uploaded and updated whenever you change your information. RPR definitions AVM = Automated Valuation Model Value estimate calculated using only the publicly available information RVM = Realtors Valuation Model Value estimate calculated using the publicly available information plus MLS active, sold & off market data RVM Confidence score: rating from 1-5 stars, the higher the score the closer to RVM Range will be (at 5 stars, selling above or below 10%) to the RVM. Active status= Active; Pending status= Active CAPA, Active Contingent, Pending General searching- In any of the search methods use the Advanced options to add additional criteria to your search. All Properties- Displays all property types and statuses, use multiple different formats to look-up properties (address, MLS #, city etc.). Use the Advanced options to search using Tax ID (referred to as APN Number), or Owner name. For Sale- Search for currently active and pending properties using standard property identifiers. Neighborhoods- Consists of subdivisions, subdivision communities, zip codes, census areas and cities. Use this search to do area research for either your market area, client, or open house. Schools Search by geographies for elementary, middle or high schools in the area. Get information on school ratings and see nearby properties for sale. Market Activity- Use this search method to show a variety of market changes based on time frame and status. My Listings- Displays your listings, keep in mind that the data feed from FlexMLS to RPR can take up to 48 hours to display a new listing. Call RPR technical support if your listing does not display after the 48 hour time frame.
2 Search Results Map View Use a variety of mapping features including: Box, Radius, Polygon, and Distance to help you narrow down your specific area. Any time that a map tool is used to change your results you must click on Search in This Area. Drive Time- Will display an overlay on your map that will show multiple different drive times from your center location. Click on the time frame that you want to search in that area. Geographies & Heat Maps Geographies (located at the top right of your map) can help you display different areas on your map. Click on the areas that are highlighted to select, then click on Search in This Geography to find results. Heatmaps (located at the bottom right corner of your map) can show you highlighted areas of different market changes. If you are zoomed in too much you will not be able to see the color changes.
3 Property Summary Report In the Summary tab view both MLS and Public listing information (if available). -View the AVM or RVM -Write private listing notes -Make corrections to the listing information -View distressed information -School information from both MLS data and GreatSchools.com -Mortgage, tax and FEMA flood information -Listing agent contact information Neighborhood Summary Report Type in any neighborhood (i.e. subdivision, zip code, city, census area etc.) to pull up a neighborhood report. Using the Summary, Housing, People, Economy and the Quality of Life tabs you and your clients can get a picture of what that area consists of. Market Activity Search This search method displays activity in an area based on status and changes within a certain time frame. Brings you directly into the List or Map view so you can see where the listing are populating.
4 Summary In the Summary tab view both MLS and Public listing information (if available). Quick Tip: When viewing a property click on the star to save the property for easy access through the Saved dropdown menu located on the Home and Search screens. History Great source of public and MLS records regarding prior sales transactions, tax information, mortgage records and much more. Click on the Previous and Next to view more records by year. Charts & Graphs Variety of different charts and graphs that can help you do market research on your subject property. These charts and graphs do populate on some of the reports (i.e. Seller Report). Within each section you will see About this data, click on it to view where the information is populated from and how often it is updated.
5 Refined Value This section will allow you to refine the value for your subject property based on the basic home facts (i.e. bedrooms, bathrooms, living area etc.), refine the value based on home improvements, and basic market and home conditions. As you add/remove value to your property the Refined Value will display in the upper right corner. Note that a property must have a number entered for Living Area from public records data (not listing data) to accurately refine its value. For example, if you modify the number of Bedrooms, but Living Area is missing, the refined value will be incorrect. Enter and save a Living Area before refining value. Home Improvements Changes like upgrading a kitchen, shown in the dropdown menu, are calculated using the date of the improvement and information from Hanley Wood, a provider of housing development market data. The home improvement data are produced at a regional level, and refactored at the ZIP code level for the most accurate results. If you choose other because your home improvement is not shown on the list, the change in value is based the initial cost of the improvement. Market & Home Conditions Based on your experience of the area and home conditions use the sliders to add/ remove value for your subject property. RVM vs. Refined Value The RVM is a system generated value, while the Refined Value will be from your experience of the property and market conditions. This value will display on reports (if not suppressed), and will stay for that property until it is cleared. Refined Value vs. Comp Analysis The difference between these to estimates is that the Refined value will be based solely on your perception of the property and market conditions. The Comp Analysis value will be based on the comps you have chosen, refining value based on property characteristics (i.e. view, lot size etc.) are not available in this section. All three valuation models can all display on your reports to help you price your property.
6 Comp Analysis 4 steps in creating a Comp Analysis in RPR, complete each step to continue to the next. Add a property by: MLS# Address Search using RPR search fields If you choose to search for your comps using the RPR search fields, a list will appear below the map. The listings will be divided by their status. A blue star indicates that the listing was used to create the RVM. Check off the box to Add to Comps List. The Comps being used will display on the right side, the range will automatically update as you add/remove properties. Use the conditional slider on to add/ remove value based on the condition of the comparable homes to your subject property. Make changes to the Recommended Price and the range by clicking on the edit button. Click on Revert to Original Result to bring change it back to the average of comps figures.
7 Reports Five types of residential reports and a valuation workbook are available from RPR: Property Report, a comprehensive look at an individual property The Property Report is best for helping a client who is considering the purchase of a particular property. It can also be used to perform background research on any property of interest to the user or a client. Mini Property Report, a more concise version of the Property Report The Mini Property Report is helpful when you want a three- to five-page report on a property covering all the basics. Property Flyer, one page marketing flyer of the property. Choose the picture and the title of your flyer, use it for open houses, brochure box or to hand out to your clients. Seller s Report, a tool for listing presentations The Seller s Report is used primarily to help prepare for listing a property. The agent can use it to make a listing presentation for a client. Market Activity Report, a snapshot of all the changes in a local real estate market The Market Activity Report is a mechanism for examining a local real estate market or neighborhood. It provides more detail about transactions and conditions in a defined geographic area. This report can be helpful when working with either a buyer or a seller. It can be generated for a standard geography or a custom area. Neighborhood Report, data about the housing, people, economics and quality of life of a neighborhood The Neighborhood Report is useful when a buyer is evaluating several neighborhoods for a potential purchase. Valuation Workbook, a tool used by appraisers to help with the appraisal process. Report process Once you choose the report you want, you ll want to click on More Details, this will display all of the elements that are included in the report. Reminder: Some of these reports can be up to 70+ pages, save paper and remove pages you don t need! Personalize your report for your clients. Chose a delivery method Open or download as a PDF to a specific address Don t forget to agree to the terms and click on Get Report
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