BETHESDA, MD -– CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of information services to the commercial real estate industry, today announced the launch of its newest service, CoStar Commercial MLS™. Designed to be the industry's best solution to help commercial real estate professionals market and sell more properties, CoStar Commercial MLS™ is the nation's largest available collection of researched and verified commercial For-Sale property listings. Over 85,000 For Sale listings are searchable with customized filters that specify asset type, location, vacancy, time-on-market, price range, age, cap rate and other criteria. This new service provides brokers and investors nationwide with an easy-to-use solution for generating incremental commissions and income from sales of office, industrial, retail, shopping centers, land and multi-family properties.
"Unlike Internet bulletin boards, the CoStar Commercial MLS™ service provides commercial real estate professionals with verified and actionable listings," said Andrew Florance, President & CEO of CoStar. "We heard what was being offered by Internet bulletin boards like LoopNet that don't have large, proven research teams like ours focusing on information quality, and we thought the market deserved a better for-sale listing product at a better price. With verified listings, brokers and investors are less likely to find distracting duplicate listings, mis-classified properties, or buildings that have already been sold. What they will find is the most comprehensive, verified and timely information service available to the industry - and powerful tools that should help to make them more money faster."
Historically, CoStar has derived most of its revenues from sales to brokerage firms, property owners and financial institutions. CoStar Commercial MLS™ marks the first time CoStar has licensed a service directly to the individual practitioner – whether their firm subscribes or not. Priced at $19.95 per month for the total database of national listings, CoStar Commercial MLS™ represents incredible value to the subscriber – the potential to generate substantial additional income for a small monthly investment. As added incentive, there are no fees to try it for 90 days, and subscribers can cancel at any time after signing up. The Company expects this new offering to help CoStar reach thousands of potential subscribers – who all can benefit immediately from the best technology available to the commercial real estate industry.
CoStar is able to deliver Commercial MLS™ in such a cost effective manner by leveraging research and software development investments that have been made over 18 years of service to the commercial real estate industry. The Company offers the industry's largest national database of verified commercial sale comparables, a comprehensive database of detailed tenant information, and is considered an industry utility for leasing listings, with the industry's largest digital library of building photos, floor plans and aerial photos. "Across all of our services, our cutting-edge software and proprietary databases give commercial real estate brokers, owners, lenders and appraisers the power to close more deals, generate more income and save precious time," said Florance.
"If you want to ensure that your listing is widely distributed to quality, active dealmakers, you want it on CoStar," continued Florance. "Whether you are an investor, a commercial broker, or even a part-time commercial broker, CoStar Commercial MLS™ provides you the most reliable and comprehensive information service available to help close the deal – faster, with better information, and with less uncertainty. These are professional tools, at an unprecedented bargain to the user."
About CoStar Group, Inc.
CoStar Group, Inc., (NASDAQ: CSGP) is the leading provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information on over 60 U.S. markets, London and the United Kingdom. Based in Bethesda, MD, the company has approximately 1,000 employees throughout the United States and the United Kingdom, including the largest professional research organization in the industry.