Sizing up RPR's Property Details Page

RPR's Property Details page assembles a cross section of data unlike any other singular real estate platform. Here you will find hundreds of datasets, including home facts, owner info, photos, taxes, mortgage, historical and distressed data; side-by-side comparisons of MLS vs. public records, sales history, financing, flood zones, and school info. There's a lot to it... and nothing like it.

In the next sections, we'll briefly cover the five tabs (or pages) displayed within RPR's Property Details page. They include:

Summary

Top to bottom, inside and out—the Property Details Summary is your hub for everything there is to know about a property. Look to this tab for datasets ranging from the home's interior and exterior characteristics, to current and historical photos, detailed tax and mortgage history, sales, demographics, school info, maps, owner info, and agent info, among a host of others.

One of the most distinctive features of Summary is the Realtors Valuation Model® (RVM®). As the only automated valuation product owned and operated by members of the National Association of REALTORS®, the RVM goes beyond the Automated Valuation Model (AVM) by incorporating listing and sales data from the MLS into the equation.

The RVM is accompanied by a Confidence Score—a value between zero and five that indicates the level to which each of the multiple models agrees with other estimated values for a given property.

History

The History tab of Property Details gives a clear indication of where the property has been and what its future could hold. Many agents seek out this page for its telltale graphs, charts and datasets, including Sales and Financing Activity, Prior Sales Transactions, Tax Assessment, Mortgage Records, and Distressed Info.

Charts

Are you or your clients visual learners? Then check out the Charts tab for comparisons of Home Value vs. Median List Price, Median Sales Price vs. Sales Volume, Listing Price vs. Listing Volume, Distressed Properties, and more. All of the following charts and graphs are updated monthly, except for Listing Inventory and Inventory of Distressed Properties, which are updated daily.

Refined Value

Another of RPR's unique offerings, the Refined Value tool allows REALTORS® to update the value of a home based on improvements made, market conditions, and a confirmation of the property's characteristics. This tool can also help clients determine whether purchasing a home and then remodeling is worth the investment.

Comparative Analysis

RPR's Comparative Analysis tab includes two different valuation tools: 1) the Comparative Analysis and 2) the Sales Comparison Analysis. The key difference between the two is the extent to which the property and comps can be adjusted by the user.

The most commonly used RPR valuation tool, Comparative Analysis, helps agents create a price range for a property that is both quantitative—based on comps and market information, as well as qualitative—reflecting your knowledge of the property, neighborhood and market. This tool's advantage is the ability to more precisely pinpoint a price range for clients who are selling a property.

RPR has developed a simple, step-by-step Comp Analysis wizard that walks users through the process of validating basic facts about a subject property, selecting comps, and adjusting those comps to yield a customized and flexible result.

The Sales Comparison Analysis is a more detailed and sophisticated property valuation used for harder-to-price homes. Although the Sales Comparison Analysis is primarily used by appraisers, every REALTOR® has access to it.

Next steps

You've completed your introduction to RPR's Property Details page. Now it's time to jump in and get to know the site on your own. Here are a few options to get started:

• Check out these self-paced video tutorials for more on the Property Details page, how to generate a Comp Analysis and more.
• Go directly to the Property Details page by entering an address in the search bar at narrpr.com.

To view the original article, visit the RPR blog.