The National Association of Realtors will spend as much as $12 million a year to offer online transaction management software services at no cost to members, the real estate news service Inman News reported.

NAR's board of directors approved the three-year deal with software company zipLogix Monday. Under the terms of the agreement, the association will pay $10 per member for the first two years. The price will rise during the third year, but the increase will be tied to the rise in the federal Consumer Price Index. The deal is expected to cost NAR $11 million to $12 million a year, with the money coming from NAR's reserves.

According to its website, zipLogix offers a suite of software services for Realtors, including form templates, document storage and audit trials. NAR and the California Association of Realtors co-own zipLogix's parent company, Real Estate Business Services Inc.

NAR CEO Dale Stinton called the deal "a tremendous recruiting tool" for the association.

"We think out of those million licensees out there that aren't members, we're going to be getting some of them back," he said.

However, the board's decision wasn't unanimous, according to Inman News. Some board members questioned whether the deal was a good use of NAR's resources given the number of management software services already on the market.

"This is a space which is currently being served adequately though other means," NAR board member Budge Huskey said. "It seems to be a solution in search of a problem."

NAR said members who have purchased zipLogix since Oct. 1 will receive a prorated refund. http://bit.ly/1HTbGhb

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