CoStar Competitors? What are some good comps to CoStar, Loopnet?
We use CoStar but are shopping. What would you recomend? They seem to give very little for how $ they are
[{"id": "i5a8gl2", "text": "In terms of research or advertising?", "replies": [], "depth": 1}, {"id": "i5a9y3p", "text": "They're a monopoly and they know it.", "replies": [{"id": "i5aodeu", "text": "Unfortunately this is correct. We couldn\u2019t survive without it and our clients would think we were clowns without it. \n\nAlso used Real Capital Analytics and their data quality is generally superior to CoStar but their quantity and coverage isn\u2019t even close.", "replies": [], "depth": 2}, {"id": "i5ba4wg", "text": "Why and how is it a monopoly ?", "replies": [], "depth": 2}], "depth": 1}, {"id": "i5acm5u", "text": "Crexi", "replies": [{"id": "i5ae56e", "text": "Founder is a joke. Product is garbo.", "replies": [{"id": "i5af6ve", "text": "Waste of time. Your going to lose more going only crexi.", "replies": [], "depth": 3}], "depth": 2}, {"id": "i5af2yv", "text": "I completely understand the desire to have a competitor to CoStar, but it is not Crexi.", "replies": [{"id": "i5alve0", "text": "Why not Crexi? Curious", "replies": [], "depth": 3}], "depth": 2}, {"id": "i5aqzz6", "text": "Depending on what you\u2019re leaning on Costar for\u2026 it generally blows for how I use it (agency not as much tenant rep) however it\u2019s impossible to avoid. Just a box you have to check unfortunately. For listing properties and generating new prospects, I have yet to find a better resource than Crexi pro. (Real time record keeping of who does what with properties online, good for farming contacts to CRM, slightly weaker platform for displaying details about properties but good enough, there about another rounds worth of detail about crexi and not costar but this is a start)\u2026 I choose to use both.\n\nKnow that markets are very different, which plays into how effective each can be. I bet some markets are dominant one way or the other\u2026 Texas is a non disclosure state where I am so costar really doesn\u2019t know the comps, or they know what they are told and are told intentionally misleading info\u2026 facts. Their reporting is weak here so if the data is from costar we just add an asterisk (compare their market reports against shops with their own research teams and they are far apart with costar being the outlier in the wrong way) and recently crexi comes up first when you google an address you want to see prior to loopnet/costar. They have room to improve but I support them first. Also if you do some research on them (edit/clarification \u201ci mean costar\u201d), does not look like a cool place to work. There are articles, I think from real deal.\n\nCrexi is coming around and so far less likely to be a part of the demise of brokerage\u2026 which is another thread.\n\nSo what are you using the online marketplaces for?", "replies": [], "depth": 2}, {"id": "i5bqbba", "text": "As a local broker (NYC) I like Crexi because you can easily leads if you have listings. But the research platform is a solid 2/5.  Co-star quoted me $1300 for what my needs are.  I wind up using Property Shark / Crexi for sales canvass and Compstack for leasing.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i5agld6", "text": "Vizzda is like CoStar jr works but only for AZ and FL I used a few years ago in internship", "replies": [], "depth": 1}, {"id": "i5aie5u", "text": "Lol. I am looking for a Facebook competitor, is instagram good?", "replies": [], "depth": 1}, {"id": "i5akdsy", "text": "We pay over $100,000 a year for Costar so we always entertain presentations from competitors. The unfortunate answer is that Costar has pretty effectively strangled the market so there really isn't a peer-to-peer competitor that I've seen. Costar seems to acquire the promising ones that pop up and the ones that remain independent can't compete on coverage because of the aforementioned stranglehold on the market. Not a good situation. \n\nOh and the customer service for a six-figure account is a joke, at least it has been recently. A few months ago we were up for contract renewal and we asked them to lead a training session for our users to go over some of the recent changes they've made. The rep they gave us knew so little about the product it was embarrassing. An entire department felt like they wasted 2 hours of their life. I know we formally complained to corporate afterward, it was that ridiculous, but I haven't heard if it led to anything.", "replies": [{"id": "i5az17p", "text": "That\u2019s surprising our staff has been INCREDIBLE. They\u2019ve led a personal 1 hour session for me after I missed two previous calls of there\u2019s. I would ask for another account rep and see how they do.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i5anvbd", "text": "Reonomy is pretty decent and stupid cheap.", "replies": [{"id": "i5aqn75", "text": "I was quoted $400/month today and that's having to sign a 12 month contract. Is this what you were quoted?", "replies": [{"id": "i5cw899", "text": "The $49/month plan with them works for me. I\u2019m not a full-time broker anymore. I only used it for owner contact info and to identify other properties they own. \n\nThey can add more features and integrates stuff for the higher tier plans, but as an individual now, $49 is perfect.", "replies": [{"id": "i5ecbm6", "text": "Wow, I wasn't even given that option. $49/month is much different than the $400/month they quoted me.", "replies": [{"id": "i5enzyk", "text": "&gt; I have not logged into Reonomy in about two months now. If you go and look up Reonomy $49 you will see a ton of supporting evidence. I think they're either switching pricing models right now, or they're doing some A/B testing on subscriptions or something. Very odd.", "replies": [], "depth": 5}], "depth": 4}, {"id": "i5ejkbv", "text": "Do you have their agreement they sent you? I spoke to one of their sales people today and they're telling me this is bogus and that they only have one plan that's offered and that's the $400/month plan. He wants to see the agreement form that you were sent. Are you sure you aren't thinking of ProspectNow?", "replies": [{"id": "i5enz3c", "text": "I have not logged into Reonomy in about two months now. If you go and look up Reonomy $49 you will see a ton of supporting evidence. I think they're either switching pricing models right now, or they're doing some A/B testing on subscriptions or something. Very odd.", "replies": [{"id": "i5eo2rm", "text": "Ok thanks", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "i5lygkj", "text": "I also called recently. Their pricing has changed since January. I was also quoted $400/month for a single user account.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i5ao4az", "text": "DataTree by First American offers sale comps now.\n\nAlso, Zippia does ok demographic work.\n\nYou\u2019re not going to find much of a better true owner database, CoStar has thrown too much time and human suffering at that, it would be like trying to rebuild the pyramids today with the same technology. \n\nThe best way to compete with Costar is to hire a researcher for your office, and have them piece together a similar product with vendors, demographic and public record scrape services likes DataTree and Zippia.\n\nAs far as listings go, well that\u2019s a crap shoot. You\u2019ve either got buyers and sellers or you don\u2019t.", "replies": [{"id": "i5arlf5", "text": "Damn that\u2019s cool, will have to ask my guys why they\u2019ve been holding out on me. Thanks for sharing.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i5ar4r2", "text": "Check out InclusiveCRE. They have a list of companies that offer commercial comps. \n\nhttps://inclusivecre.com/commercial-real-estate-comps/", "replies": [], "depth": 1}, {"id": "i5b7h88", "text": "Yardi, Axio/Real Page, Moody's/REIS are other CRE data choices with different methodologies and asset class focus than CoStar", "replies": [], "depth": 1}, {"id": "i5b8kf5", "text": "# CoStar Group, Inc. (CSGP) has a market cap of $24B.\n\n*Question:* **What is it, really, that costar provides that is worth my paying $500/mo?**    \n*Answer*: The **size of their network,** aka the comfort of **knowing every other commercial broker uses them ---** **NOT the quality of their product** or the **accuracy of their data**.   \n*Question 2:*  **Rate costar on the following attributes on a scale or 1 to 10?**  \n\n* accuracy of data\n* sophistication of reporting\n* lead generation\n* competitive pricing\n* ease of customization\n\n*Answer 2*: **Trick question. Cannot** rate a product that has no real competitors...there's no market landscape.  What is a '1' and what is a '10'?  *(And that's the beauty of a monopoly.)*  \n\n\nMy **proposal:**  \nCan **$5B be raised** to devise a **CRE MLS product superior to costar's** with more useful features and more accurate, up-to-date data that is used by a larger customer base?   \n*(without infringing copyright)*", "replies": [{"id": "i5ba91t", "text": "Who would you say benefits the most from costar ? \n\nIs it mostly just investment sales brokers ? \n\nHow many things can co star actually do? So far i know it can do listings and do comps analysis", "replies": [{"id": "i5bryus", "text": "I worked as a property manager for a developer, apartment leasing rate comps and reporting was good.  They have analyst that would call my property constantly to update their market surveys and all of my other comps.  *don\u2019t tell CoStar I said this*. All of the numbers they collect are searchable on apartments.com, so if your willing to do the data collection you can get it for free minus vacancy rates if that\u2019s what\u2019s your gig is.", "replies": [{"id": "i5d0036", "text": "What incentive is there for owners to report their data though ? \n\nI remember doing some comps work and calling up new multi family buildings trying to get an idea of their vacancy rates and once you ask one too many questions, they\u2019ll say \u201cwe don\u2019t respond to market research\u201d \ud83d\ude02", "replies": [{"id": "i5d0fha", "text": "This was for buildings with on-site managers.  Who will exchange the info to get accurate comp measurements. It\u2019s worth it for the management companies because they may have portfolios for multiple owners and they would want the most accurate market data", "replies": [], "depth": 5}, {"id": "i5d0ufp", "text": "Actually I was in an area with multiple luxury developments that all comped each other and the 7 property managers were on an email chain where we shared leasing and vacancy.  Because all of our owners wanted the comp info anyway, it made our lives easier", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i5c3tra", "text": "Sadly, none.\n\nWorse, without the data from property owners (which they take for free) they would have nothing to sell.", "replies": [], "depth": 1}, {"id": "i5cfm18", "text": "While probably not as robust as CoStar, I have used CompStak and REIS to access similar data sets. If I remember correctly, CompStak came in significantly cheaper, but REIS was similar in price structure.", "replies": [], "depth": 1}, {"id": "i5dl7lx", "text": "Real Capital Analytics is what I use every day. Has more accurate pricing, development data, and ownership entity. \n\nDoesn\u2019t give you phone numbers but if you\u2019re relying on costar for phone numbers that you\u2019re probably struggling.", "replies": [{"id": "i63cnix", "text": "&gt;Doesn\u2019t give you phone numbers but if you\u2019re relying on costar for phone numbers that you\u2019re probably struggling.\n\nfirm is big, we send waves through telepathy\n\ngracias bro", "replies": [], "depth": 2}], "depth": 1}]