Best alternative to CoStar

Real Estate Consultant · Fayetteville, NC · Member since 2017 · 151 posts · 144 votes

For those who use CoStar know the value that the platform provides. There is plenty that comes with the price tag. In my search for other platforms to compare against CoStar for market analysis, comps, and prospecting I have struggled to find something that is comparable without it being similar in price.

Has anyone found a more cost-effective alternative that can match CoStar? Even if it is a combination of a few different programs.

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Todd Hershman

Member since 2019 · 1 post · 3 votes

I would say, though it is not an MLS, Compstak data is without a shadow of a doubt the closest. In terms of comps and understanding both sales & lease deals, as well as what space might be available by tracking lease expirations, it is absolutely the best choice out there. I find their competitive set tool which finds comparable buildings based on actual data, quite helpful too in terms of vetting deals and providing proof of concept. Would encourage anyone who hasn't signed up yet to check it out. Compstak is awesome

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Chris BlackburnPro Member
Developer · Salem, OR · Member since 2014 · 193 posts · 110 votes
7y
Michael- I have thought about putting together a competition version of Costar. They have a monopoly and are allowed to charge any price for data. %80 of commercial property is typically represented by %20 of the brokers- Just call those direct and you have data on %80 of the market. Offer free services or models of sharing that data to other brokers at a price that do not equate to highway robbery. Also connect the local MLS to the commercial version of this on an easy to use platform. Once you start to make a dent in CoStar's membership they will either buy you out or sue you. Hopefully the first one.
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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
7y
I have a full time employee that does database management and property searches. Most people might not have the ability to pay 5 to 6 figures a year for that.
With Costar it is about residuals. 15 years in the business I do not like contracts and residuals. They have the control and incubate the user. I like to control the data and the deals but my business model is not as mainstream as large companies.
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Todd Dexheimer
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
7y
REIS is close, but not quite there
0 Reply
Josh Oaten
Investor · Phoenix, AZ · Member since 2017 · 261 posts · 143 votes
7y
@Michael Glaspie
While it is not as good as CoStar, I find Yardi Matrix reports to be really helpful. You can get free monthly national reports and seasonal for cities. Brokers also can provide Yardi Reports for specific properties and areas.
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Todd Hershman
Member since 2019 · 1 post · 3 votes
6y
I would say, though it is not an MLS, Compstak data is without a shadow of a doubt the closest. In terms of comps and understanding both sales & lease deals, as well as what space might be available by tracking lease expirations, it is absolutely the best choice out there. I find their competitive set tool which finds comparable buildings based on actual data, quite helpful too in terms of vetting deals and providing proof of concept. Would encourage anyone who hasn't signed up yet to check it out. Compstak is awesome
3 Reply
Josh Ridpath
Appraiser · Richmond, VA · Member since 2017 · 48 posts · 41 votes
6y
I don't think there is an alternative to CoStar. They are quickly turning into a monopoly. I've seen other people mention CompStak but I think its just a matter of time before CoStar finds a reason to buy them or to go after them through litigation. CoStar now owns Loopnet, Apartments.com, Lands of America, Smith Travel Research, BizBuySell, and other sites. Besides private websites controlled by the brokerage houses themselves and the MLS, there isn't much left.
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Javier D.
Investor · FL · Member since 2017 · 266 posts · 220 votes
6y
@Michael Glaspie
Reonomy?
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Sam B.
Member since 2019 · 106 posts · 32 votes
6y
@Javier D.
Reonomy is a decent comp, but not as good. Though it is over 50% cheaper
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Spencer Gray
Syndication Expert and Investor · Indianapolis, IN · Member since 2016 · 591 posts · 808 votes
6y
I have been using Reonomy for the past month and have found it very useful for identifying off market properties.
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Shahriar Khan
Investor · Houston, TX · Member since 2010 · 234 posts · 145 votes
6y
Real page is the one.... They have Co star data + rent data + you can create a valuation on the fly before you can walk into a property . Its expensive like no other . I used a little while to test things out. I loved it.
Second best alternative is Co Star. Had for almost a year
Cheaper options if Reonomy and their contact info isnt that great at all. Data lags a bit as well.
Yardi isnt that good as Co star but similar.
There is another Startup from Austin similar to Reonomy but they provide data on API basis. reached out to them and lets see what they say.
On the flip side, you can find data scattered around if you just look at the right place you can put all of them together for very low cost. Just my 2 cents.
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Alex Olson
Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
6y
The best for contact info is reonomy I have found. Also, I think just calling the big national flags in your area and developing a relationship with them will be the best outcome. CoStar is great but there are many ways to get the contact info you need.
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Isaac Deutsch
Real Estate Broker · Northern New Jersey · Member since 2016 · 4 posts · 4 votes
6y
Originally posted by @Sam B.:
@Javier D.
Reonomy is a decent comp, but not as good. Though it is over 50% cheaper

in my market, the price came in about the same although Reonomy isn't market-based but is limited with contact search, Reonomy has loan maturity data which co-star is lacking which is a big upside. costar has leasing data and is also more accurate.

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Valeria Kokina
Specialist · Member since 2018 · 1 post · 0 votes
2y
As an alternative to the Costar brokerage app, you may try AscendixRE. It is a combination of a CRM, deal flow tool, and broker commission tracking.
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Adam Kolojejchick-Kotch
Member since 2020 · 5 posts · 2 votes
2y
This post is 5 years old but still curious! Is there an alternative to loopnet / costar as a commercial inventory broker tool?
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Gino BarbaroPro Member
Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes
2y
@Michael Glaspie

I would also look into Crexi. They aggregate data.

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