Comments on: How About NO Commercial Real Estate Data At All?

By: Andrew Smith

Andrew Smith — Sun, 08 Jan 2012 22:47:46 +0000

am nerd! RT @365frederick: How to tell between a geek and a nerd http://t.co/HHZ5yYVF… via @AGBeat

By: Jim Clark

Jim Clark — Wed, 10 Mar 2010 05:19:01 +0000

As I first read your article, I presumed you had “tongue firmly in cheek”.

Standards have gone a long way to loosening big brokers’ hold on market data.

They are changing the role of commercial brokers…and that’s a good thing.

But as I read it again, I think maybe you were serious. You can’t be serious can you?

Jim Clark
Broker

By: Office Space Chris Hancock

Office Space Chris Hancock — Fri, 26 Feb 2010 22:37:19 +0000

While I agree the newer generation has cause for demand and commercial information will become more transparent and open eyes in the market, there will always be a information gap between buyers, sellers and tenants. As a commercial broker, there is some information that I have acquired over the course of transactions and the expansion of my local market that can only be realized by those who are there on the front lines. Because we live in the information age, players in the commercial market must adapt. And as information becomes more transparent it may create a more level playing field. Either way, it certainly will change how the game is played.

By: Weekly Roundup | The RI Blog

Weekly Roundup | The RI Blog — Fri, 26 Feb 2010 15:19:22 +0000

[...] How About NO Commercial Real Estate Data At All? [...]

By: AgentGenius

AgentGenius — Fri, 26 Feb 2010 01:15:37 +0000

#agnow The key is quaity - and the only way to guarantee quality in your market is to do the heavy lifting. Lease... http://bit.ly/9BEDsT

By: AgentGenius

AgentGenius — Fri, 26 Feb 2010 01:15:05 +0000

#agnow [...] Note Hub Will the Discount Rate Hike affect CRE? | Real Insight. Real Estate. Need A REALTOR®? How ... http://bit.ly/9BEDsT

By: AgentGenius

AgentGenius — Thu, 25 Feb 2010 21:30:26 +0000

#agnow Alan, Wow, thanks for that very interesting angle. If you reference my first post,part of the reason for my... http://bit.ly/9BEDsT

By: AgentGenius

AgentGenius — Thu, 25 Feb 2010 20:46:21 +0000

#agnow Pretty funny...er...ironic. You're using five or six international interoperability standards to create and... http://bit.ly/9BEDsT

By: But do you need it? | Bucks County Real Estate

But do you need it? | Bucks County Real Estate — Thu, 25 Feb 2010 18:45:50 +0000

[...] Note Hub Will the Discount Rate Hike affect CRE? | Real Insight. Real Estate. Need A REALTORÂ®? How About NO Commercial Real Estate Data At All? Between Pre-Foreclosure and REO Lives the Short Sale Opportunity | .. Best Real Estate [...]

By: tcgibson@zstrata.com

tcgibson@zstrata.com — Thu, 25 Feb 2010 17:53:32 +0000

The key is quaity – and the only way to guarantee quality in your market is to do the heavy lifting.
Lease information is inherently confidential, as are retail sales numbers
Even sales prices filed with county offices, due to concessions between buyer and seller may not accurately reflect the local market, and may not be available on a timely enough basis.
Most firms do distribute their listings to other firms – of course holding back on a listing they could complete alone – and a standard would make it easier for each firm to maintain their internal database.
But that’s not going to happen – as said earlier the market will determine, and there’s no force to make the market and 1,000′s of independent firms march together

By: Duke Long

Duke Long — Thu, 25 Feb 2010 16:30:22 +0000

Alan,
Wow, thanks for that very interesting angle. If you reference my first post,part of the reason for my angle is efficiency ,savings,making money,etc. But, again I like your points. Thanks for your input.

By: Alan Edgar

Alan Edgar — Thu, 25 Feb 2010 13:28:43 +0000

Pretty funny…er…ironic. You’re using five or six international interoperability standards to create and post your opinions in this blog. If you use the mapping features in Google you’re likely using KML – a standard Google placed in the public domain for management and further development. Share your data, don’t share your data, import only – these are all your business decisions to make and the market will decide their value. But two out of three of these choices will benefit from normalization of naming and meaning at the very least and, if the standardization goes further to allow machine-to-machine automation and accurate interpretation then the velocity (re: the comment about access to more ‘eyes’) goes exponentially up. In the building design and construction industry a study by the National Institute of Science & Technology (NIST) concluded that at least $15B annually is wasted due to information exchange inefficiency. I’m not aware of a similar study in the Real Estate industry – though it has been suggested as an issue the US Commerce department should take up since Real Estate is the #2 business expense exceeded only by personnel expense. If you do any sort of research or business with trading partners then you are exposed to these loses and one of the best ways to make money is to not lose it.

By: AgentGenius

AgentGenius — Thu, 25 Feb 2010 04:34:44 +0000

#agnow Thanks for the comment Chris, have your colleague read Paul's comment above, and "Welcome To The Jungle Baby." http://bit.ly/9BEDsT

By: Duke Long

Duke Long — Wed, 24 Feb 2010 23:34:43 +0000

Thanks for the comment Chris,
have your colleague read Paul’s comment above, and “Welcome To The Jungle Baby.”

By: Chris

Chris — Wed, 24 Feb 2010 23:28:14 +0000

I’m posting this from a colleague who dislikes the whole blog thing. Don’t hold that against him!

That’s a little naive…comparing IT of commercial to residential. There’s been a residential MLS since the late 60s…they were all published in books, but none the less, aggregated market data. To suggest the same thing hasn’t happened to commercial for some reasons that have to do with technology – which do you think is larger, the annual gross transaction value of the commercial market, or the residential market?
It’s mutually beneficial for the parties and agents in CRE transactions to keep the data private… it’s not even an issue in residential.

I don’t understand, logically, how a CRE brokerage firm can justify outsourcing the strategic business process of local market data securitization. The reason most brokerage firms are engaged by tenants and buyers is because they believe the brokers have the knowledge and skills to “mark-to-market”. How does an agent in your markets that uses market data securitized by a company in Bethesda, compete with a local agent with its own market comparables and property inventory?

And look at the CBRE example…after helping start CoStar, they go back to proprietary internal market data securitization.

By: AgentGenius

AgentGenius — Wed, 24 Feb 2010 20:38:27 +0000

#agnow Paul, The more you comment the more sense you make. Instead of writing two posts about data, I should have... http://bit.ly/9BEDsT

By: AgentGenius

AgentGenius — Wed, 24 Feb 2010 20:33:16 +0000

#agnow Data is essential to making good decisions. The better, more accurate, and more comprehensive the data, the... http://bit.ly/9BEDsT

By: AgentGenius

AgentGenius — Wed, 24 Feb 2010 19:58:59 +0000

#agnow Interesting post! thanks for sharing. =) http://bit.ly/9BEDsT

By: AgentGenius

AgentGenius — Wed, 24 Feb 2010 18:43:37 +0000

#agnow Agreed, Thanks for the comment http://bit.ly/9BEDsT

By: Duke Long

Duke Long — Wed, 24 Feb 2010 15:38:25 +0000

Paul,
The more you comment the more sense you make. Instead of writing two posts about data, I should have just copy and pasted your response!! Well put!