It’s been buzzing around the internet and in the minds of many real estate professionals this year, but what is it exactly? Some think it will replace the MLS and some major systems in the industry, however it is not.
So what is UpstreamRE?
UpstreamRE is a comprehensive data-management project for the benefit of the real estate industry. “Upstream cross-references many types of real estate data going far beyond a listing data set. It creates a single entry point for all real estate data and eliminates duplicative data entry costs. Upstream then gives brokers full control to distribute their data to a variety of targets simply and efficiently. Every day, brokers enter data more than one time into different MLSs, into different portals, real estate tools, back office accounting systems, etc. Upstream gives brokers the technology leverage needed to manage their costs better, freeing up resources to innovate and serve their customers.” – UpstreamRE website
What does RPR (Realtor Property Resource) have to do with UpstreamRE?
Realtor Property Resource (RPR) was chosen to be the technology vendor after reviewing the RFP responses. The first consideration was RPR’s platform which proved to be comprehensive, reliable and sophisticated. Second, RPR understands the industry and the needs each stakeholder. Lastly, the National Association of Realtors saw the vision and embraced the benefit for the industry. NAR leadership demonstrated that support by funding RPR’s development and launch activities through 2017. It is neither a loan or an investment and does not require repayment. Upstream will eventually begin to pay RPR for ongoing operations and support in 2018. Brokers, franchise systems and referral networks who embrace Upstream’s vision continue to generously fund all other operations.
Who is in control of UpstreamRE?
With an agreement to not mind or make decisions without majority vote of a quorum of the members of the Board of Managers, UpstreamRE has the real estate industry and it’s vendors close to mind on every decision. See the Board Facts From Our Operating Agreement and meet more of the managing members of UpstreamRE.
The Executive Committee of UpstreamRE
Head to UpstreamRE to read more about the project, see updates and sign up for their newsletter.