CoStar COMPS

(12)
3.7 out of 5 stars

CoStar COMPS provides a platform to capture, manage and maintain proprietary lease data for analysis.

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CoStar COMPS Reviews

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Showing 12 CoStar COMPS reviews
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CoStar COMPS review by <span>Alison C.</span>
Alison C.
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"Good Foundation"

What do you like best?

It provides very relevant market data and is updated quite frequently. We work in a lot of the larger markets across the country, and it is typically very accurate.

What do you dislike?

You do have to confirm your data as every now and then it is not very accurate, which is true for just about any software you use though.

What business problems are you solving with the product? What benefits have you realized?

It is a great starting point and basis but doesn't replace your own due diligence. We mainly use it to see the most active markets and cap rates. The available square feet data is always very helpful as well.

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CoStar COMPS review by <span>Matthew K.</span>
Matthew K.
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"Okay System"

What do you like best?

They provide a base to work off of. For the most part pertinent info such as SF Leased, Lease Commencement, Parties in Transaction, Ceiling Height, Dock Doors, etc. are listed for your review. This comes in handy when cold calling (allows you to relay recent activity in the market).

What do you dislike?

These comps are never the best source of information to provide to a prospect or client. Co-Star is great for sourcing opportunity, but all lease comps should be confirmed with the broker listed on the transaction. This will ensure you provide your client with accurate and concise information.

Recommendations to others considering the product

Make sure you check the information provided. It is crucial that you confirm lease comp information before quoting it to prospects or clients.

What business problems are you solving with the product? What benefits have you realized?

- More efficient cold calls due to readily available information

- Greater knowledge of market activity

- Quicker responses to client/prospect requests

- Ease of access

- Ease of use

- Easy to convert to report format which makes for quicker presentation turnaround

- Reliable source of information

What Lease Administration solution do you use?

Thanks for letting us know!
CoStar COMPS review by Agency
Agency
Validated Reviewer
Verified Current User
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"COMPS Rewview"

What do you like best?

CoStar does a great job of creating an easy to navigate interface to utilize different comps and change criteria.

What do you dislike?

There have been numerous times where a sale price is not included in comps but is available in public record. Their analysts need to dig further into deals to make sure they are getting all the information.

What business problems are you solving with the product? What benefits have you realized?

It makes things extremely easy to manage clients expectations with showing them exactly whats going on in the market.

CoStar COMPS review by User in Real Estate
User in Real Estate
Validated Reviewer
Verified Current User
Review Source

"Really Convenient"

What do you like best?

Its updated quickly which is great as I need new comps every couple of days. Also, the reports are pretty comprehensive which is helpful.

What do you dislike?

Sometimes it takes too many keystrokes to get the job done. Also sometimes I have to type the address multiple times in the search box before the right property shows up.

Recommendations to others considering the product

Definitely a good product

What business problems are you solving with the product? What benefits have you realized?

Looking for what buildings we have yet to learn have reached/ left the market.

Where we should be looking in terms of a hot market.

Cap rates.

Location preference for investors.

How much we can assume people can invest for similar properties

CoStar COMPS review by Consultant in Commercial Real Estate
Consultant in Commercial Real Estate
Validated Reviewer
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"A Good Starting Point for a Comp Search"

What do you like best?

Easy to use for searching in the larger markets.

What do you dislike?

Limited data available for secondary and tertiary markets. I found that the product did not adequately serve many of the smaller markets that I work in.

Recommendations to others considering the product

Ask others in your local market if there is adequate data coverage to make it worth the cost. Also be sure to do your own verification.

What business problems are you solving with the product? What benefits have you realized?

CoStar Comps is a good starting point for searching the market. Bur you still have to contact related parties for verification since some of the data is limited or not always fully accurate.

CoStar COMPS review by Administrator in Real Estate
Administrator in Real Estate
Validated Reviewer
Verified Current User
Review Source

"Being able to access comps for different requirements is great!"

What do you like best?

Easy to search and find the comps you need.

What do you dislike?

If the comp information is not up to date or incorrect.

What business problems are you solving with the product? What benefits have you realized?

It is good to be able to compare and show our clients the comps in order for them to understand the market and the pricing of similar buildings.

Kate from G2 Crowd

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