Second Century Initiative

NAR’s priorities as the association begins its second century are no less ambitious than those of the founders a century ago. The association’s “Second Century Initiative” includes plans to:

• Create a real estate library/archive online that will provide real estate professionals with data on every property in the United States
• Start a federally chartered credit union to give you financial services that understand you and are responsive to REALTORS®’ self-employed, commission check-based, financial profile and cash flow; are sensitive to your around-the-clock job schedule; and at rates that are competitive
• Fund new technology ventures that hold promise for real estate practitioners
• Launch a consumer initiative that will help build trust between Realtors® and consumers and make the most of our shared interest in healthy real estate market

REALTORS® Property Resource (RPR) (formerly National Library/Archive, Gateway)
NAR is developing a national database of information on all real property in the U.S.

This initiative will provide access to a national database of real property information and will give real estate professionals the best access to real property information needed to serve their clients and customers. It will include in-depth, trusted information on every parcel of real property including public record information, details of prior transactions, MLS-provided information, zoning information, transfer tax information, and other relevant information.

The initiative will be based on the collaborative efforts of REALTORS® and the real estate community, including MLSs. It will drive development and implementation of data standards and definitions, and will increase the breadth, depth, immediacy and power of real estate information available to REALTORS®.

Learn more through the NAR Leadership Team White Paper and NAR CEO Dale Stinton's Webcast, which both provide a detailed overview of the Library/Archive Initiative.

REALTORS® Federal Credit Union
Recognizing the special financial service needs of REALTORS®, NAR is creating a REALTOR® friendly credit union. The credit union will be Internet based, with plans for a U.S. call center operation, and will handle loan applications and account transactions on a 24/7 basis. 

Expected to launch in mid 2009, the credit union will be a wholly-independent, member-owned legal entity. Learn more about the new REALTORS® Federal Credit Union and sign up to receive more information as it becomes available.

Second Century Ventures, LLC
Second Century Ventures, LLC is a private equity fund, and offers start-up and early stage companies an opportunity to work with a major strategic partner — NAR. A recent example includes NAR’s acquisition of ePropertyData.

Key objectives of Second Century Ventures include driving the commercialization of technology and business systems that support the lifecycle of the real estate transaction, helping to keep brokers centric to real estate deals, providing a benefit to NAR membership, and realizing a reasonable investment return.

Goals of Second Century Ventures focus on member value: serving REALTORS® and helping them accomplish more by stimulating creation of more transactions, increasing velocity of transactions, and helping them to be more productive/efficient and to improve the quality of their work.

Consumer Outreach Initiative
One of the cornerstones of the Consumer Outreach Initiative is a digital channel strategy anchored by a content portal and social media site. The overarching theme of these activities is empowering consumers to derive the most value from their home and improve the quality of life in their communities.

NAR seeks to extend the value of the REALTOR® brand beyond the transaction to the full life cycle of homeownership and position itself in the minds of consumers as the organization that best represents their ideals and interests in homeownership matters.

The chief vehicle for achieving this goal is a web site and digital channel strategy that enables consumers to become better informed and better educated about all aspects of home ownership, including the public policy issues that relate to it.

The first step in manifesting this vision will be to create a major, best-of-breed consumer web site that offers state-of-the-industry information, resources and tools related to maintaining and adding value to a home – information that NAR is uniquely positioned to offer. In addition, NAR wishes to leverage the audience it develops for political advocacy.