Do You Use Costar?

[NachoPerito]

Do you use Costar to aid in your research for sales comps and regard it as a necessary subscription?

 

[PL1957]

In most urban markets, it would be extremely difficult to be efficient without CoStar. While their info varies in its accuracy, it is a good source of leads.

 

[CANative]

Use it every day, almost all day. I can see how the price would be a burden to lone fee appraisers who worked in diverse areas though. I have access to all of California through the company I work for. But I think we only have access to the Comps feature. No analytics or lease access (etc.)

 

[GWC]

I also use it every day. They have quite the monopoly so they really have small businesses by the juevos. No other decent alternatives after they bought Loopnet.

 

[Michael S]

Not a lot of great data in a non-disclosure state. Still, it's by far the most comprehensive source for leads. There's a statewide commercial MLS but 90% of sales and leases don't show the final sale price/lease rate. It's also only really used in the top few markets whereas CoStar has at lease some coverage almost everywhere. My company pays for it but even at a few grand a year it would probably be worth it if I was on my own.

 

[Michigan CG]

Most of the people responding here work in large cities and cover much larger geographic areas than I do. The data here (in my county) is very slim and not worth the cost. When I did use it the data was only a lead to a sale that needed significant confirmation. I can get more information with a couple phone calls that cost me nothing.

When I was in Iowa it was completely worthless in rural areas.

 

[nstanbru]

I use it but I don't have a premium subscription. I have access to Comps Express which is a "pay as you use it" feature.

 

[Michael P Jacobs MAI]

In urban areas they're cheaper than hiring a research assistant, which is pretty much their business-model for appraiser customers. Once you learn their limitations and where they're likely to go wrong, they're not so bad an employee.

 

[DanBuck]

I also use it every day. They have quite the monopoly so they really have small businesses by the juevos. No other decent alternatives after they bought Loopnet.

There appears to be a new service on the horizon-Compstak- where real estate professionals exchange their databases and comparables..could help some of ya..

 

[NachoPerito]

There appears to be a new service on the horizon-Compstak- where real estate professionals exchange their databases and comparables..could help some of ya..

Compstak is doing leases only. It has a lot of potential, but isn't in my market yet.

I think most people use Costar for sales, but maybe most also use it for confirmed leases as well. The leasing data from Costar requires purchase of the full suite of products and is a lot more expensive.