CoStar’s Love-Hate Relationship With the Commercial Real Estate Industry

CoStar Group flaunts corporate social responsibility, dismisses employee criticism

The commercial real estate industry has long had a love-hate relationship with CoStar and vice-versa. Perceived as a necessary research tool for many in the business, the high price is usually what irks people the most. CoStar can run users thousands of dollars per month with variable fees based on service and activity level. But the cost of the subscription is not the only reason the company has raised the ire of so many in the industry. The company’s property database is updated by a team of researchers who call by telephone to get building info and drive a fleet of vehicles around cities taking pictures of buildings. Some brokers don’t like giving CoStar their data, or are generally distrusting of the validity of the information on the site. Owners often prefer to use their own images to represent their properties in the database.


   ...more

RSK: Looks like more than a few people are not happy with CoStar.

Ken Notes: I work with several different markets, and can not stress enough how important it is to have a local listing service that can feed the larger systems. Control of ones listings is so important to successfully marketing a property.



- - Volume: 10 - WEEK: 17 Date: 4/19/2022 6:30:14 AM -