It has never before seemed realistic to send commercial real estate professionals to one place to view on- and off market listings and investment analysis tools and data. Creating a national one-stop shop sounded too complicated. However, REALTORS Property Resource (RPR®), working in collaboration with strong partners, has made that scenario a reality for commercial members of the National Association of REALTORS®.
Resolving Pain Points
In a survey conducted by RPR, commercial members identified the inability to see the majority of commercial inventory in one place as one of their biggest pain points. In 2019, commercial members evaluated commercial public listing platforms with the goal of picking one as NAR's partner. The assessment found that REALTORS® use varied public listing platforms, and many use more than one platform. The fact is, multiple providers offer value, and investor or tenant interest can come through a variety of reputable commercial real estate brands, including Brevitas, Catylist, and CREXi.
As a result of these findings, RPR committed to work with each provider to make commercial sale and lease opportunities available in one place: RPR. A website with listings from more than one platform gives REALTORS® an exclusive way to search on-market opportunities no matter which listing platforms they prefer or, in some instances, which platforms their clients prefer. Through NAR’s subsequent partnerships with Brevitas and CREXi, REALTORS® can search through RPR for more than 360,000 listings nationwide, including listings represented by REALTORS® and non-REALTORS®. In addition, more than 90,000 listings are searchable nationwide through RPR’s agreements with Commercial Information Exchanges (CIEs), Commercial MLSs (CMLSs), MLSs, and TotalCommercial.com.
Members of local, state, and regional exchanges choose whether to share listings beyond their subscriber bases. Exchanges representing nearly 100,000 listings (including over 80% from Catylist-powered CIEs/CMLSs) have chosen to expand their market reach through RPR, and many more are considering this option.
Bottom line: As a REALTOR®, you can now tap into connections with more than 450,000 properties being marketed on multiple platforms in one place: RPR. You can also make connections through RPR with the lion’s share of U.S. commercial practitioners representing for-sale properties and for-lease space.
Counting the Benefits
That’s not all. RPR also gives you access to data on more than 55 million off-market properties—that’s most of the commercial properties in the country. You can use that data to uncover opportunities in your market. Find out how much owners paid for their properties, and calculate expected returns based on current market trends and how long the owners have held the properties. Access to that type of information can prompt discussions about opportunities for owners and investors and spur community growth.
With more than 55 million commercial properties in the U.S. and a few hundred thousand of those listed publicly at any given time—all accessible through RPR—you’re positioned to access significant property intelligence. What- ever your clients’ commercial real estate needs, you can meet those needs through a closed network of listing brokers and property owners. And you can save significant dollars on data, because RPR is a free benefit, exclusively for REALTORS®.