Data giant has spent $2B on resi platforms since 2014
The data giant’s $250 million purchase of Homesnap, announced Sunday, gives it a foothold in residential sales, where it will go head-to-head with Zillow, Realtor.com and others. Until now, CoStar’s focus was limited to rentals.
The deal brings CoStar’s bet on the residential sector to more than $2 billion, and represents a huge expansion opportunity for the data giant.
As CoStar CEO Andy Florance put it: “The estimated value of commercial real estate assets in the U.S. is $16 trillion.” By comparison, the residential sector has $27 trillion in assets. “With the new addition of clients and information … we are almost tripling the size of our addressable markets,” he said in a statement...
As CoStar CEO Andy Florance put it: “The estimated value of commercial real estate assets in the U.S. is $16 trillion.” By comparison, the residential sector has $27 trillion in assets. “With the new addition of clients and information … we are almost tripling the size of our addressable markets,” he said in a statement...
RSK: Sometimes you just might get a bit too greedy. (Think of WeWork) Has anyone received a call from a Rep at CoStar lately or Loopnet? Maybe stick with what you are best at...not sure. Will be interesting to follow.
Ken Notes: With all sales beginning online these mega players can position themselves first in line for home searches, and then "sell" broker recommendations - We need to be very careful...
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- - Volume: 8 - WEEK: 49 Date: 12/1/2020 9:53:31 AM -