CoStar COMPS Reviews & Product Details


What is CoStar COMPS?

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

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CoStar COMPS Profile Details

CoStar COMPS Profile Details

Vendor
CoStar Group
Company Website
Year Founded
1987
Total Revenue (USD mm)
837
HQ Location
Washington, DC
Ownership
NASDAQ: CSGP
LinkedIn® Page
www.linkedin.com
Employees on LinkedIn®
4,346
Twitter
@TheCoStarGroup
Twitter Followers
39,101
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CoStar COMPS Reviews

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1-13 of 13 total CoStar COMPS reviews

CoStar COMPS Reviews

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1-13 of 13 total CoStar COMPS reviews
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Accounting Assistant
Real Estate
Small-Business
(11-50 employees)
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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 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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Associate
Real Estate
Enterprise
(1001-5000 employees)
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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 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

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A
Small-Business
(11-50 employees)
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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 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.

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UR
Enterprise
(1001-5000 employees)
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"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 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

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CC
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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 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.

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AR
Enterprise
(10,001+ employees)
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"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 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.

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UC
Small-Business
(11-50 employees)
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"Good comp tool"

What do you like best?

Very easy to gather sales and lease comparables. The map tool is very helpful. It is somewhat confusing to use at first, but once you get the hang of it it's easy to navigate. I like the ease of use and the amount of information available.

What do you dislike?

Not always the most reliable to share with customers. Good for prospecting but shouldn't replace bottom up due diligence.

Recommendations to others considering the product:

If you are looking for lease comps then I would highly recommend using this tool.

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

Looking for retail lease comps throughout the five boroughs. Great starting point and reference point for retail leases.

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AC
Enterprise
(10,001+ employees)
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"not the easiest program to use"

What do you like best?

i like the wealth of information you can get on costar and details they provide about a property

What do you dislike?

customer service, slow loading time, sometimes frustrating to navigate

Recommendations to others considering the product:

Beware that getting a new account setup takes weeks...at least for my company. It seems that CoStar gets their own wires crossed and has weak communication internally.

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

its a great tool for getting flyer, brochure, and floor plans information on nationwide properties

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UC
Mid-Market
(501-1000 employees)
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"CoStar Comps Review"

What do you like best?

Has a decent bulk of pertinent information. Much better than CoStar Lease Comps and/or CoStar Tenant.

What do you dislike?

Doesn't always have the full comp info such as the official vs DBS ownership. Could use better contact info as well.

Recommendations to others considering the product:

Great for sale comps but just average for office & industrial lease comps. Very pricey product that could be better for lease comps over 5,000 sf, of which is usually only about 40% of the market transactions.

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

Finding our property values to deduce lease information for my tenant clients who are prospective buyers.

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Assistant Vice President of Marketing
Marketing and Advertising
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"Costart"

What do you like best?

Ease of software and makes pricing property easier

What do you dislike?

Limits search range and ability to export certain comps in different formats e.i excel

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

Seeing how our buildings compare to others

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U
Small-Business
(11-50 employees)
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"Easy to Use"

What do you like best?

It gives you different options for customizing a report for a client. You can browse with ease and customize your report to match your criteria.

What do you dislike?

It doesn't have all comps. There isn't much that I dislike about the product.

Recommendations to others considering the product:

Learn the program. It works.

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

Quick and easy access to local comps. Great data to share with clients.

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UC
Small-Business
(11-50 employees)
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"Costar Comps Review"

What do you like best?

Being able to look up comps and print comps that match a survey.

What do you dislike?

Difficult to modify sale comps to export data for a report. Excel export is missing fields available to view.

Recommendations to others considering the product:

Expensive tool but they are the market leaders and tend to buy out other products.

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

Accessing changes in the market and tracking changes to better understand absorption.

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UR
Small-Business
(11-50 employees)
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"Great Tool for OMs"

What do you like best?

Really enjoy this. I’ve called several properties to make sure the information CoStar gives is accurate, and they do very well.

What do you dislike?

It was hard to train my staff, but once we got the hang of it, it was a great resource for them.

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

Much easier than looking through our database for comps.

CoStar COMPS Features

  • Portfolio Administration
  • Lease Accounting
  • Lease Auditing
  • Document Management
  • Localization
  • Integration / APIs

CoStar COMPS User Ratings

7.4
Ease of Use
Average: 8.3*
6.5
Quality of Support
Average: 8.4*
7.5
Ease of Setup
Average: 8.1*
* Lease Administration Category
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