It would seem that some MLSs were a bit concerned about the bifurcation of service being provided to RPR by LPS. According to the announcement, Real Estate Digital, or RED will be continuing to do what that group has always done in terms of data aggregation. Only now, RED will be a subcontractor to LPS.
In a letter today, RPR CEO Dale Ross submitted the following:
This e-mail is a courtesy message from RPR about the press release issued yesterday from Real Estate Digital (RED), announcing a management buy-out of select assets of LPS Real Estate Group and the formation of a new company. As you may be aware, RPR contracts data aggregation services for the RPR website from LPS. Under this new structure, RPR’s service will continue to be contracted through LPS, which will have an agreement with RED to fulfill LPS’s obligations to RPR. RPR does not have any direct relationship with the new company.
RPR has held a number of conversations regarding this announcement with the management of LPS, and we have been assured of continuity in the services being provided to RPR. We also believe that this new arrangement will have benefits for RPR in the future.
The RPR Management team is confident that this transition should not affect our current MLS content mapping schedules and MLS launch schedules.
If you have any questions, please feel free to contact the RPR Management Team or your Industry Relations representative at any time.
Dale L. Ross
CEO-Realtors Property Resource, LLC