CoStar Group, Inc. News
CoStar Surpasses One Million Property Listings
According to CoStar Group Founder and CEO
"CoStar pioneered the concept of commercial real estate firms outsourcing their property information functions 20 years ago, fundamentally changing the way commercial real estate professionals access, use and share property information," Florance said. "The astounding number of listings being accessed today across CoStar's information platform by tens of thousands of users throughout the U.S. and U.K. is a clear indication of how far the industry has changed from the outmoded and inefficient paper-based information exchange of the past, to the greater efficiency, increased productivity and cost-savings that result from using CoStar."
Among the major information providers currently serving commercial real estate, only CoStar can bring the resources of a more than 900-person research team to actively seek out, confirm and update listing information on commercial properties.
From a competitive market share perspective, Florance said the million-plus listings in CoStar's database far outpaces the amount of listings available from other commercial real estate listing firms. "There's no comparison. In fact, based on the listing totals reported by our next largest competitors in both the U.S. and U.K., CoStar has more listings than both of them combined," he said.
As confirmed by CoStar Research, the one-millionth property listing is a three-level storefront retail and office building at 1674-76 Lombard Street in
To commemorate this important milestone, Mr. Florance personally visited Mr. Weiss to thank him for listing his property with CoStar, and to inform him that he had won a new Toyota Prius hybrid car. While thrilled to learn that his was the one millionth listing on CoStar, Mr. Weiss responded that he no longer drove a car and that he preferred that his prize be awarded in CoStar stock!
CoStar agreed and plans to deposit
Mr. Weiss uses CoStar Group information services to search for properties and to market his listings. With one call to CoStar Research, Mr. Weiss made his listing available to three key audiences as part of CoStar's multiple channel, 'one-stop shop' service: to other commercial real estate service providers through CoStar Property Professional(R); to Ritchie Commercial's client base through the firm's web site via CoStar Connect(R); and to an enormous online audience that visits http://www.CoStar.com, which includes 1.3 million unique visitors quarterly, all of whom have access to his listing through CoStar Showcase(R).
About CoStar Group
CoStar Group, Inc. (Nasdaq: CSGP) is the number one provider of commercial real estate information/marketing services to commercial real estate professionals in
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward- looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended
SOURCE CoStar Group, Inc.
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