I posted the following on March 18, which eludes to Brad’s quote on March 19.
Talk of APIs and providing MLS data to vendors through APIs is something that has been in discussion for about 8 years, and may be on the horizon. Watch for some major changes that no one expects…creating an “ecosystem of innovation” may be closer than we think.
To which Brad elaborated:
“Speaking of RPR, the big data venture that has been costing NAR about $20 million a year is cooking up a new business model. RPR’s current mission: “The sole purpose is providing Realtors with the data they need to meet the demands of their clients. There are no third-party investors or silent partners.” Admirable.
But RPR’s revenue projections are not working out according to plan, say some insiders. So it is being forced to a make a pivot in its business model, which is common in the startup world. This is the alleged pivot: Encourage young, smart software developers to create lightweight front-end MLS tools to hook into the RPR data set and deliver a competitive alternative to the handful of MLS vendors who (some observers say) still operate with clunky 1990s software.
Now, like any worthwhile pivot, you must go back to your investors (in this case, NAR) and ask for another $6 million to make the switcheroo. Everyone could save face with this scenario, and NAR indirectly helps News Corp. fend off Zillow as the Seattle firm further sloshes around in the MLS pond.
Why is this important? If you are an agent or broker, you are paying the bills for all of these ventures one way or another.”
I was trying to be more discreet.