25 Nov CREPN #68 – How to Use Market Data for Commercial Real Estate with Chris Beck
Posted at 08:00h
by J. Darrin Gross
<![CDATA[Buying and selling commercial real estate is a game of poker. If you know the cards your opponent has, you have an edge. The cards in Commercial Real Estate are market data.
If you don’t have the market data, you might be betting against a full house instead of a pair of two’s. How can you know what the potential for a property is if you don’t have the data? Develop your commercial real estate investment strategy using data.
Get your 10 Reasons to Choose Costar
Fortunately, not everyone does their the homework, and that creates opportunities for those in the know.
What kind of market data can help you make a purchase or sale?
The easy market data is the property physical characteristics: address, square footage, year of construction, and owner. This is the easy information that you can get at the county courthouse.
However, if you want to know the contact information for the owner, or current rents, for the specific property and the competition, where do you go? What lengths are you willing to pursue to get the information you are looking for?
What if there is a new employer coming to town and you know that rentals are going to be in demand?
Do you have a buyer looking for a stand alone building with traffic counts north of “X”?
Fortunately, the collection of all things data can be useful for these specific questions through the use of BIG data. One specific company that collects and provides information to subscribers is Costar.
If you make your money when you buy, are you more likely to make money on a property that is listed, or an off market property with an owner that has been thinking about selling?
What class of asset are you interested in; Multifamily, Retail, Office, Warehouse, Land for development?
To learn more about how market data can help you in your Commercial Real Estate endeavors, contact:
[author title=”About the Author”]]]>