New MLSListings Service Answers Housing Market's #1 Question: 'What Is My Home Worth?'

SUNNYVALE, Calif., Oct. 5 /PRNewswire/ -- Sunnyvale-based MLSListings, Inc. (MLSListings) is one of the first multiple listing service (MLS) organizations in the country to make REALTORS® Property Resource™ (RPR) available exclusively for its members.  RPR provides critical, location-specific data that will give member broker/agents and their customers a real competitive advantage in a volatile real estate climate.

RPR combines various location-specific public and historic records with licensed, timely MLS data to create a REALTORS® Valuation Model™ (RVM), which estimates a home's value in ways far more targeted and timely than the traditional Automated Valuation Model (AVM) products currently available to mortgage lenders and servicers. The use of MLS data will create an automated estimate which is superior to the AVM products, which are today derived from public records only and sold to lending and loan servicing institutions.

According to Jim Harrison, MLSListings President and CEO, the RVM offers member real estate agents a new way to help their clients make the best pricing choices in today's fluctuating marketplace.  "We believe now more than ever, consumers need REALTORS® to help them navigate the many sources of information and help them get expert advice on real estate prices and trends," said Harrison.  "However, the RVM is not intended to take the place of an appraisal."

"As an early adopter of RPR, MLSListings understands the value this resource brings to the real estate community," said Dale Ross, RPR CEO. "Their involvement, beginning as one of 13 beta sites during the development process of the application—and rollout within their own membership—has helped RPR spearhead additional partnerships with more than 100 MLSs nationwide."

An initiative of the National Association of REALTORS®, RPR provides a single entry point for access to a compilation of tax and assessments data; property data; neighborhood, school, distressed property and foreclosure data, demographic and psychographic information; maps, trends and reports.

About MLSListings, Inc.

MLSListings, Inc. is a not-for-profit, California mutual benefit corporation formed in 2007 by a consortium of eight Northern California REALTOR^® associations (Santa Clara, Santa Cruz, Silicon Valley, San Mateo, Monterey, Watsonville, San Benito and Central Valley associations of  REALTORS^®).  Currently, MLSListings represents more than 18,000 MLS subscribers, in 6,000 firms, in an area covering 28,000 square miles representing more than $70 billion in annual real estate transactions.  For more information, please visit www.mlslistings.com.

About REALTORS® Property Resource™ (RPR)

RPR, a wholly owned subsidiary of the National Association of REALTORS® incorporated in November 2009, is a nationwide database providing REALTORS® with extensive property data and analysis as an exclusive member benefit of NAR. RPR's goal is to aggregate and deliver to its users a comprehensive database of information about all 147 million parcels of residential and commercial property in the United States. RPR is 100 percent owned, operated and controlled by the members of NAR. For more information about Realtors Property Resource, visit: http://blog.narrpr.com or contact Jeff Young, Senior Vice-President of Operations, 312-329-8255.

SOURCE MLSListings, Inc.