REALTOR® Property Resource, or RPR, is excited to offer another great feature to our platform: Opportunity Zones. This powerful data layer will allow REALTORS® to use RPR’s map interface to analyze and search for properties within the 8,700 Opportunity Zones throughout the U.S., in both our Residential and Commercial modes.
Residential practitioners who utilize Opportunity Zones will notice increased marketability of homes within the OZ, while Commercial practitioners are more likely to see less desirable properties turn into investment opportunities.
Created in 2017 as part of the Tax Cuts and Jobs Act, the purpose of the federal government’s Qualified Opportunity Zone (QOZ) program is to drive economic growth through long-term investments in economically disadvantaged communities by offering tax incentives to investors.
Through RPR, REALTORS® can search a geographic area, then choose to display the Opportunity Zones layer, which will then reveal shaded, peach-colored areas that qualify.
REALTORS® can then analyze all properties that fall in the Opportunity Zone, review economic and demographic statistics for the area, and create reports for investors about the buying potential. They will also be able to reach out to residents and business owners in the area about selling advantages through RPR’s recently launched Mailing Labels feature.
Watch this brief “How-To” video on how to locate and execute an Opportunity Zones search within RPR:
Want to learn more about RPR? Click here to access the Getting Started in RPR guide.