Crexi Intelligence Subscription- what’s the catch?
I recently demo'd Crexi intelligence platform and it is around $1,200 for the year to access nationwide property comps and data (sale history, mortgage info, ownership and lease comps etc.). What’s the catch here?
It seems too good to be true. Annual cost is more than 15x cheaper than CoStar. There’s no way that CoStar data is that much more superior than Crexi on a pound per pound basis. The price alone and what is included is having me thinking about subscribing to Crexi. Anyone a subscriber and have some intel or can vouch for it?
Crexi is accused of stealing data from Costar. Look it up, so they could be a lawsuit away from going bankrupt. This is the not the 1st time Costar has put a competitor out of business due to a lawsuit. Costar also has data on vacancy and rents for many submarkets across the country. If you are a broker, feel free to use Crexi or any source, because candidly the data you use in an OM is useless. Nobody looks at that. But if you are on the debt or equity side particularly an institutional shop, the credit/investment committee would like to see Costar or Reis data due to their credibility. So their rent comps, sales comps and submarket vacancy data is useful. This is not a knock on Crexi, I would say the same for Reonomy, etc.
Despite my IC requiring some of their datapoints for packages, I always chuckle a bit at the "credibility" factor of CoStar data. It is wildly wrong sometimes (incorrect/missing tax lots, asking rents off by huge margins, bad sale data). I always urge the junior analysts to verify info elsewhere if they can. On the rent side I have found Yardi Matrix to be generally better (at least for multifamily).
The above being said, I still use CoStar almost every day. The submarket-level data is definitely helpful.
Came to say this - CoStar's accuracy/credibility is questionable at best, they just happen to be the best of a pool of bad options. It's a given issue with private data.
Been wondering the same thing as it’s so much cheaper than costar. Actually asked this question a few weeks ago on here.
I got a one-year subscription. Find myself using it way less than CoStar. It's not very good, honestly.
What don’t you like about Crexi? Do they not have much data? What are the issues?
It's all data that I can pretty easily find publicly, although it is far more convenient than finding it myself. They just don't have a lot of property information like CoStar does and none of the market data. I used CoStar all the time to try and find deals/opportunities, but it was getting hard to justify spending five figures for a license. Not sure Crexi is worth it either.
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