A Letter About Upstream's New Direction

This is an exerpt from a message sent to Upstream participants, investors and supporters fom our CEO, Alex Lange

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I was hoping to post an update before the media blitz, but we should never be surprised by how fast news spreads about movement in our industry.  If you haven’t seen the news, Upstream is making big changes that are great for the project, practitioners, and MLSs. 
 
We’ve learned a ton over the past few years, and frankly, NAR has been instrumental in helping us define the product, understand friction in deployment and navigate the political environment.   Our refined understanding of what it will take to implement Upstream’s dream lead all parties to agree that we should amicably separate and seek new options.  

Upstream has vetted and select a new vendor to power our initiative.  We have solidified early deal terms and will announce as soon as we have signed the definitive agreement.

It’s been an exhilarating journey but not remotely as exciting as our renewed prospects with our new partner.  They will dramatically accelerate our rollout and vendor adoption.   They will leverage what we’ve learned and incorporate it into their extensive and reliable platform.  

If you can’t tell… I’m thrilled!

But before the rumors start, I want to set a few things straight…

• The separation from NAR/RPR was mutual.  It just made sense with what we’ve learned.
• Upstream was never a NAR initiative.  RPR responded to Upstream’s RFP.  They were always a vendor who acted as a partner.
• We targeted a new partner that will multiply our acceleration technically, geographically and politically.
• All parties are focused on a smooth transition and our working relationship with RPR has been very good.
• The deal terms with NAR required two seats on UPSTREAM’s board and Executive Committee.  Tom Solomone and Rei Mesa were not only NAR representatives but practicing brokers. Both have elected to continue their support of Upstream and service on the Board of Managers.
• There will not be price increases or changes to existing Upstream contracts
• Both Upstream and our new partner are ensuring the efforts of those pilot markets, who have been so supportive, have not been in vain.  

I apologize for being so quiet while working on these deals. I believe more than ever that 2019 will be phenomenal for Upstream, practitioners and the industry.

I'm looking forward to announcing more details of our new partnership soon.  For now, if you want to read more about the transition, you can go here.

Happy Holidays,