On Monday March 8, in lieu of our regular sales meeting, we got a visit and training session from our local CoStar representative Tom Russell. Costar is a comprehensive database of all commercial properties in major markets across the U.S. Costar surveys all office, industrial, retail and multifamily properties plus raw land to provide current and historical sale and leasing data to its subscribers. In 2012, Costar acquired its primary competitor, Loopnet for $860 million and earlier this month, they acquired Apartments.com for $565 million. The result is that CoStar is now a $6 billion company.
Brenner Real Estate Group is a CoStar subscriber as are our major local and national competitors in the commercial real estate market. Those firms that subscribe to CoStar have a major advantage over those that don’t. We and our competitors use the same tool and have terabytes of data at our fingertips.
Those firms that can best learn to use this tool can set themselves apart from the competition. That was our objective on Monday. Tom was able to answer our questions on how to extract information from Costar to help us do more deals and provide the best service for our clients.
We use CoStar to gather sales comp data to help us attain court appointed receiverships. We use their occupancy and rental rate data to help us make decisions for our commercial property management clients. CoStar also allows us to rapidly develop lists of tenants and property owners to aid in marketing our property listings.
Tom Russell our account representative fielded questions from Brenner’s brokerage and management professionals to help us to get the most out of our CoStar subscription. Some of the items we discussed were:
By continuing to develop our knowledge of CoStar, Brenner’s professionals continue to set ourselves apart from the competition. CoStar’s whopping $6 billion valuation is a clear indication of the value of commercial real estate information. It is that value that Brenner Real Estate professionals bring to our clients every day.
Brenner Real Estate Group is a full-service commercial real estate firm providing asset solutions, brokerage, investment sales, property management, asset management, and receivership services for office,
industrial/commercial, retail and multi-family properties. The firm has been serving Florida since 1987.
For more information, visit Brenner Real Estate Group on the web at www.breg.net, on Facebook at “Brenner Real Estate Group” or on Twitter at “BrennerREgroup”. Contact the firm at 1500 West Cypress Creek Road, Suite 409, Fort Lauderdale, FL 33309, 954.596.5555 or toll free at 1-888-333-2734 (BREG).