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CoStar vs. CompStak

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I have a problem with that. If that is indeed true, is that not fraud? You pay for a service. And that service then knowingly sells you false data. I would think that's actionable, possibly criminal behavior. But I'm not an attorney. I only play one.
 
CoStar put it in writing. They put fake listings in. They purposely falsify information in records to catch the wrong doe'rs. Industry thing though man. Nothing to see here.

Costar+Allegations.jpg
 
False CoStar data?

This is a common practice in the publishing industry to guard against the theft of intellectual property.

Rand McNally, for instance, puts fake towns on its maps to flush out who has been violating their copyrights. I have considered it harmless up to now, but I dread one day when I'm driving through the desert, low on gas, thinking "I see the town of VanDeLay up ahead on the map. I'm sure I'll find gas there."
 
From my experience I can't tell if CoStar is seeding the square footage of most of the buildings in my market or just pulling the numbers out of their ***. Granted with no public records it's not easy to get an accurate number a lot of times. Still with many buildings you can do an aerial measurement and get within a few percent at least.
 
Still with many buildings you can do an aerial measurement and get within a few percent at least.

I found this to be a fairly accurate statement myself using Google Earth Pro measuring keys.
 
CoStar put it in writing. They put fake listings in. They purposely falsify information in records to catch the wrong doe'rs. Industry thing though man. Nothing to see here.

Costar+Allegations.jpg

Hmmm. Thinking perhaps maybe we should consider this in our appraisal work. Oh wait, that would be misleading.

But again, I find it upsetting that it is legal to perpetrate a fraud on your customers to "protect" your inaccurate data.
 
I get it that they are trying to protect their data. But what really bothers me is I don't know it's a "fake" comp/sale/listing until I do the verification and I've already paid $35.00 to $45.00 for that 1 piece of info.
 
I found this to be a fairly accurate statement myself using Google Earth Pro measuring keys.

I'm totally in this crowd right here Mr. Vertin. I've been using it in D.C. for the last couple years. I did implore some practice using it as . Just as an example, the first couple months I was doing it, I would hit every measurement and then come back and see how I needed to align the measuring tool in order to most accurately measure the building. Then I could move onto a comparable and have a pretty darn good number. I really like it. A lot of the assessment sites around here have excellent measuring tools as well. I'm only a 19-20 year vet of the biz, but I didn't think about a day that I could go onto a BFE county's GIS site and be able to measure a chicken coup, a barn, outbuildings (to even have a GIS map to be honest with zoning overlays, flood overlays.) Never even thought of seeing that.

Thank you Al Gore. Thank you fine sir.


ps. Gregg, the whackiness factor of putting fake information into a fake record to defend themselves from fake purveyors from stealing the fake data with fake suits is mind-bottling. I can't wrap my head around it.
 
I'm totally in this crowd right here Mr. Vertin. I've been using it in D.C. for the last couple years. I did implore some practice using it as . Just as an example, the first couple months I was doing it, I would hit every measurement and then come back and see how I needed to align the measuring tool in order to most accurately measure the building.

Then I could move onto a comparable and have a pretty darn good number. I really like it. A lot of the assessment sites around here have excellent measuring tools as well. I'm only a 19-20 year vet of the biz, but I didn't think about a day that I could go onto a BFE county's GIS site and be able to measure a chicken coup, a barn, outbuildings (to even have a GIS map to be honest with zoning overlays, flood overlays.) Never even thought of seeing that.

Thank you Al Gore. Thank you fine sir.

I understand the joke about Al Gore. In briefity, it is funny and I am not a super fan.... but Gore's contributions to internet history has nothing to do with engineering or programming. Instead, Gore introduced the legislation that would move what we now call the internet from its academic roots to a commercial enterprise. Than is a fact. With that said, in the sense of full disclosure I did plop down a couple bucks to see Inconvenient Truth. However, I also have to says I watch Bill O'Really almost every night (and find him entertaining). But I honestly love John Stossel.

The point is I like to keep an open mind to others views. Instead of living in an echo chamber. My mother use to always say "try to understand things from all points of view it will keep you young". I never knew what she meant till I got older.

With that said there are two things I love to talk about in appraisals and this list is not in order. One is measurements and the other is data verification. I would love to invite Brain Weaver into this informal discussion because he wrote an article on measurements that I thought had questionable issues. However, when he wrote it I was having a good year and had no time to respond.

I think he wrote the article after a 30 to 50 respond string on the forum. Not sure now. Somethings I would agree with, especially on the commercial side if you are 20 to 30 percent off-now days, that is not right (maybe 10-years ago or so I would have argued that point is wrong intently). I have found sky view measuring keys on buildings over 5,000 to 10,000 square feet fairly accurate today (maybe 5 percent difference but I will address this later). Actually the larger the building the more accurate these keys become.

However, I really got into the accuracy of measurements from this forum. Residential people or those who come for this side of the business are almost religious about the subject (I believe it is a battered child syndrome but they call it good training).

However, on the commercial side not so much (and I have a pedigree of mentors who would reveal any in Chicago). There is a difference between measuring a 2,500 square foot house compared to a 300,000 square foot warehouse.

I got into this so much I bought laser measuring equipment, tapes and measuring wheels. While there are hand rolling tape measuring wheels I believe them no more accurate than a ground rolling wheel. I have tested this. Both have problem with measuring accurately due to terrain thrown off by rocks, sticks and other stuff or building material issues.

The laser measurement devices are only good up to a 100 or so feet. After that if you move your hand slightly measurements change 5 or 10 feet depending on the distance. So my argument has always been and always will be that at a plat of survey or building plan on the commercial side is more accurate then measurements.

I am not a registered surveyor. It is my simple opinion many do not understand the limitations of the tools within this size ranges when considering hand measuring. Thank God we now have sky view tools.
 
However, I really got into the accuracy of measurements from this forum. Residential people or those who come for this side of the business are almost religious about the subject (I believe it is a battered child syndrome but they call it good training).

However, on the commercial side not so much (and I have a pedigree of mentors who would reveal any in Chicago). There is a difference between measuring a 2,500 square foot house compared to a 300,000 square foot warehouse.
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The laser measurement devices are only good up to a 100 or so feet. After that if you move your hand slightly measurements change 5 or 10 feet depending on the distance. So my argument has always been and always will be that at a plat of survey or building plan on the commercial side is more accurate then measurements.

I am not a registered surveyor. It is my simple opinion many do not understand the limitations of the tools within this size ranges when considering hand measuring. Thank God we now have sky view tools.
The size of most commercial buildings isn't a fact, it's an opinion. In most CBD office markets, buildings are sold on the basis of income, not building size. Getting hung up on the "real" net rentable area is only important so far as it reflects within the income.

Way back in 2006, Equity Office sold their entire portfolio of office buildings to Blackstone. Blackstone immediately had the buildings remeasured and began charging tenants on the higher square footage, when allowed in the lease. They also immediately flipped a lot of the buildings to other sophisticated buyers, including Tishman, Shorenstein, etc. based on the higher pro forma income based on the remeasured square footage. The buildings really hadn't grown 10% in the three months Blackstone owned them.
 
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