CoStar Competitor List-Part 1
Companies that provide commercial real estate databases, analytics, and other data similar to CoStar are Reonomy and CompStak. Complete details about each competitor are presented below.
- Reonomy's website can be accessed here.
- Founded in 2013, Reonomy is headquartered in New York.
- Reonomy enables lenders, brokers, and investors to win more business, close more deals and make better and faster decisions. The company offers powerful analytics and a vast array of validated property- and market-level data collected continuously and delivered via easy-to-use web-based software and data solutions.
- This is similar to the CoStar Suite, which offers the industry’s most powerful property and market information in buying, selling or leasing a property; representing tenants or analyzing lease proposals; valuing assets, underwriting loans or managing diverse portfolios.
- Reonomy collects the required data from its network of data providers inclusive of both public and private sources. Then, its platform utilizes machine learning algorithms to analyze its commercial real estate database and ensure that it provides accurate information.
- Reonomy's commercial real estate (CRE) data and analytics platform is designed to help CRE professionals create intuitive products.
- Reonomy's CRE data and analytics platform delivers CRE intelligence and data in one marketplace similar to CoStar Go™ that brings the data behind CoStar Property, CoStar COMPS and CoStar Tenant together on one mobile platform.
- CRE professionals and Investors can use Reonomy to connect with the true owners of properties (using a constantly updating database).
- Reonomy allows users to view how much owners paid for properties, ownership of other assets, zoning areas of properties, and recent renovation dates. With this information, subscribers can customize their initial contact more constructively.
- This is similar to CoStar's offering of a full inventory of properties and spaces searchable by market and submarket, with hundreds of details on each one; users can access all this, in one place, finding the right deal in an easy to use format.
- CompStak's website can be accessed here.
- CompStak Exchange is an exclusive platform for CRE brokers, appraisers, and researchers to get analyst-reviewed commercial lease and sales comps at no charge. Through CompStak Enterprise, lenders, landlords, and investors can access granular CRE transaction information and market analytics.
- Analysis of the company website reveals that they offer similar services to CoStar, such as real estate databases and analytics.
- CompStak Analytics realizes the full promise of CompStak's unique lease data by empowering subscribers to isolate any group of leases, properties, or customized geographical locations.
- Users can build custom charts to monitor their performance along with critical metrics to serve their most important investment and underwriting goals.
- CRE professionals can easily compare the effective rent performance of their own portfolio of properties against those of their competitors in real-time. Specifically, the services allow clients to do the following:
- Identify investment opportunities by spotting properties that are performing above or below their peers.
- Track starting rents for tenants in different industries across submarkets.
- Compare lease term trends across central business districts in cities across the country.
- Monitor trends in landlord concessions for leases on high floors vs. low floors, long leases vs. short leases, or any other variable that matters, across any market and any time frame.
To determine companies that provide commercial real estate databases, analytics, and other data similar to CoStar our initial search was to look for CoStar's competitors in press releases, market reports and company profiling databases such as Crunchbase, Craft.co, Zoominfo, etc. We came across an article from Bisnow on "CRE Data Companies Cautiously Emerges To Challenge CoStar." This article mentioned startups like VTS, Reonomy, and CompStak that were launching new services to compete with CoStar. Then, the research team uncovered another article from Renx.CA about CoStar's presence in Canada. As quoted in the article: "The Canadian market is very fragmented....[t]here are a lot of little boutique data providers, but not a one-stop-shop that will provide all the services with a very advanced technology platform". Considering this, we understood that there are very few companies in the Canadian market that offered true commercial real estate databases, analytics, and other data similar to CoStar. We then turned our focus to the US market and continued checking for CoStar competitors. In several sources, we found that Reonomy and CompStak were mentioned as valid competitors. We then individually reviewed each company to understand whether it provided database and market intelligence services for real estate in a similar fashion as CoStar. We found that Reonomy and CompStak provided market intelligence and database services for real estate companies and hence we have listed them in our findings.