Costar vs Reonomy vs Crexi vs Others

[Samuel S.]

Hey BP folks,

I am looking at getting a commercial real estate subscription so that I can start researching multifamily/ industrial myself and go direct to seller.

Was hoping to find out who the best company is to go through.  It seems that the general consensus is Costar, but have heard there are others like Reonomy, Crexi, CPIX, etc.

I would essentially be trying to locate properties that are currently on the market, old listings, and properties that may have never been listed, but show the owners information. 

Any insight or pros and cons of each would be greatly appreciated!!  For what its worth, I am located in the metro Detroit market.

Thanks!

[Brian Adams]

@Samuel S. I used Yardi Matrix to buy a 1,000 unit apartment complex. Yardi, I don't think, has a section for assets currently listed for sale, but I could be wrong.

As @E. C. "Stony" Stonebraker mentioned, you should have the sales rep give you a demo. Each software will have pros and cons and your budget will be a factor.

Before the demo, I would suggest you have a list of things you want to extract from the platform to help you go direct to the seller.

Here was my list when evaluating Yardi vs. CoStar. Several years ago, CoStar didn't have the best data for debt, so I went with Yardi.

• Name of owner
• Address of the property
• Address of the owner
• Phone number
• Email address
• Number of units
• Last sale date
• Amount of sale
• When debt is coming due
• How long owned
• Self-managed