As the real estate world continues to evolve and adapt to changing technologies, one new product being developed within the National Association of REALTORS® (“NAR”) structure is called UPSTREAM. When I go out and talk with members they frequently ask “What is Upstream and how does in involve REALTORS® and Realtors Property Resource® (“RPR®”)?”
Below is prepared information from the Upstream/NAR/RPR® team working on developing and implementing this exciting new option for brokers.
What is Upstream?
Upstream is a product solution conceived and launched by a coalition of brokerages, networks, and national franchises representing real estate companies of all sizes and business models to create a single point-of-entry for inputting, managing, and distributing listings at the brokerage level. Upstream is working with NAR and RPR® to leverage its nationwide, parcel-centric platform to power this new service.
The Current Challenge
Today’s listing distribution model is fragmented. Brokerages are required to enter listing data into one or more MLS systems, Internal systems, marketing systems, and even third party-sites.
The Upstream Solution
Upstream will provide real estate brokerages with the ability to enter and store data in one place, and then distribute that data according to their company’s specific business rules and needs. Upstream was formed to develop a comprehensive data technology platform that will:
- create a single data entry point and storage platform for real estate-related data;
- standardize data formats between systems; and
- manage the distribution of real estate information with a rules-based engine that supports the individual requirements of each participating brokerage.
The Benefits of Upstream
Upstream significantly enhances the home purchase of sale experience by empowering REALTORS® to better manage their data. By effectively managing the flow and accuracy of information to consumers, REALTORS® can better serve their clients’ needs in the very best way possible.
Upstream Development Process
Development has begun on the Upstream technology, and outreach and communications are in progress to Upstream members. RPR® is in the process of establishing markets for alpha/beta testing. RPR® and Upstream are working together to create an assessment and outreach program to determine initial test markets based on MLS interests, vendor capabilities, and local brokerage support in order to create pilot markets. Alpha/beta testing will be targeted to Upstream board member markets and will also include a cross-section of firms in order to gather feedback and to address all issues prior to roll out.
Upstream, a broker initiative designed for brokerages of all sizes, creates a single point-of-entry for inputting, managing, and distributing listings at the brokerage level. Upstream is working with NAR and RPR® to leverage its nationwide, parcel-centric platform to power this new service. blog.narrpr.com/upstream
Letter from the CEO -Chris Galler
The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.