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CREXi MARKET INTELLIGENCE (CMI)
In January, CREXi launched CREXi Market Intelligence (“CMI”) to give customers access to actionable research, analytics, and market intelligence specifically designed for the commercial real estate (“CRE”) industry. CMI will live on the CREXi website alongside the most current and verified for-sale and for-lease inventory in the industry.
Initially, CMI will cover the top 25 MSAs by population density, and will offer property-type analysis, comparable sales, predictive analytics, high resolution drone videos, and more. CREXi will continue to expand coverage, functionality, and product features throughout 2019 with an ambitious roadmap intent on creating the most actionable CRE research and analytics platform in the industry.
WHAT PROBLEMS DOES CMI SOLVE?
Historically, CRE buyers, brokers, and sellers have sought market data for their business that was either unavailable, cost prohibitive, or sourced from dozens of different venues and needed to be synthesized into an actionable format. The result of this void has been inefficient information and mismatched data which slows transactions down and creates difficulty in evaluating a market or a deal. CMI fills this market void and supports several of CREXi’s missions. “At CREXi, we connect supply-and-demand, increase market liquidity and speed, and remove some of the deal friction and barriers to entry in this dynamic industry,” explains Michael DeGiorgio founder and CEO of CREXi.
WHY LAUNCH CMI NOW?
“It’s a great time to launch CMI given changing market conditions,” DeGiorgio continues. “While market fundamentals remain very strong, rising interest rates, an ongoing trade war, stock-market corrections, and other economic changes have contributed to the possible dawn of a new cycle. Changing markets historically bring new opportunities, innovation, and a need for increased information to calibrate the landscape,” adds DeGiorgio.
HOW CAN CMI BE USED?
CMI is designed for brokers, sellers, buyers, and other industry stakeholders. Quickly understanding a new market and property type is critical for investors to make informed buying decisions and expedite deals. CMI will complement the CREXi marketplace as investors can find an opportunity and quickly understand its value compared to the market. Brokers will be able to market and manage their lead activity on CREXi while better informing their clients regarding market values and conditions in addition to powerful transactional trends. For instance, maps will illustrate from where buyer activity is generated, allowing sellers and brokers to focus their efforts to those buyer pools. Additional trends, like ask to strike ratios, will help brokers better price assets and predict outcomes. The product also aims to bring more standardization to the industry in terms of how markets and properties are analyzed. Increased standardization will deliver transactional speed and liquidity.
“There is so much room for intellectual innovation in CRE. There are common traits, patterns, and attributes we recognize contribute to successful transactions and ways to score and underwrite a market. We look forward to establishing new ways to analyze and think about CRE as an investment class,” DeGiorgio says.
“We’re excited to launch V1 of this product, and will continually improve CMI going forward. During 2019, CMI will expand market coverage, move towards greater user-autonomy and self-service functionality, partner with complementary data providers, and get to market, sub-market, and property-level coverage,” adds DeGiorgio.
WHERE DOES THE INFORMATION COME FROM?
CREXi’s data is proprietary to the platform, and is a blend of our own data and research combined with 3rd party data and public records to provide a true view of the marketplace. “We are proud of the data we’ve compiled for this product. We do not share any proprietary data without our customers explicit consent. The majority of the data is culled from our database and verified supporting our mission and belief that an informed marketplace is good for all.”
WHERE CAN I BUY CMI?
CMI will be available by subscription or individual purchase at CREXi.com and will seamlessly integrate with CREXi’s robust marketplace. CMI will initially be free for CREXi PRO members and can be purchased by anyone else for immediate access to the data and insights.