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I don't have that Ryobi, but I have a Bosch version (model GLR225), purchased at either Lowe's or Home Depot, and it's pretty accurate.
The base (that you're asking about) measurement for my unit (it may be the same for the Ryobi) is user switched between two modes.
1) it's the back of the unit. In other words, for conventional measurements of, e.g., a room, you place the back of the unit up against a wall and "shoot" the opposite wall -- the displayed distance takes into account the length of the unit.
2) alternatively, the front of the unit. In other words, you can measure the distance between the front (where the laser is emitted) and an object you aim at -- the measurement displayed is the exact distance in between the unit and the target.
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