Review of Reonomy
Reonomy offers to “unlock property intelligence.” But does its database and AI technology deliver what you need?
Finding your next prospects or generating leads for current clients can be daunting, especially without the proper tools on your side. What once required a tedious search through property records and manually pulling comps is now possible through property databases and specialized commercial real estate software. In your quest to find the right product for your needs, Reonomy likely appeared in your search results. You may wonder if their software may be right for you. Read on for a review of its features, user opinions, and pricing.
Overview of Reonomy
Reonomy is a database of about 52 million commercial real estate properties with information from multiple sources. Users can filter results and search using a variety of filters about the property, owners, sales history, and more.
Reonomy boasts extensive data coverage and has services for anyone in the commercial real estate sphere, from prospectors to energy companies and insurance agents. The service exists through a web app, meaning users can access the data and features anywhere through any device. Here are some other features of the site:
- Over 3 thousand counties covered in Reonomy’s service area
- 100 data points per property, for use in their own analytics
- Ownership data, tenant data, and transaction history
- Market research and data analysis
- API access.
Reonomy has a high rating (4.4 out of 5 stars) on the review website Capterra. It scored well with the ease of use and customer service. Users love the extensive database and multiple filtering options. However, the software appears to fall short on the accuracy of data. Several users complain of not having the right contact information for property owners, making it harder to make offers and close deals. There were also some concerns with functionality gaps such as integration with other programs, but some workarounds do exist.
Reonomy’s pricing is not immediately transparent on the website. There is a free trial offering through the website, but even a look at the company’s subscription agreement shows no specified length. There is also no page that show prices for any software tier. It would appear that users now need to go through the trial period to access pricing information. However, you do not need to supply payment information to start the trial.
Previous reviews stated that Reonomy software wasn’t affordable. The website has since been updated, apparently to remove all pricing information.
Alternatives to Reonomy
One of the top-ranked alternatives is ProspectNow, a platform with both commercial and residential listings information. Our database covers every county, and we make use of machine learning to identify properties most likely to sell or refinance in the coming year.
- Detailed information for over 40 million commercial real estate properties and more than 100 million residential properties, including an LLC database and owner contact information.
- Predictive analytics allows you to identify off-market properties that are most likely to sell. Our database includes over 23 million likely sellers and over 92 thousand distressed properties.
- Digital marketing and direct mail tools that allow for more targeted outreach campaigns. Templates included.
- APIs and a download-enabled interface that allows integration of the ProspectNow data into other business systems.
- We offer an ROI Calculator to show you how much money you could be making with our software, taking into account likely sellers in your area.
One of the primary advantages of using ProspectNow is its predictive algorithm, which reviews data on all property types and uses this comprehensive data to forecast potential listings or refinances.
- You can start using ProspectNow for free with a three-day trial that gives you access to the “Likely Seller” algorithm, national company and tenant data, and property searches in one county. You also get 15 credits to get owner phone, email, or export records, along with chat and email support.
- The no-contract Residential paid tier is the most basic plan, at $119 per month.
- Team access is available under the custom-priced Commercial plan, which provides additional credits, API access, nationwide search capabilities, and an account manager.
Decide for yourself which real estate prospecting tool is best for you. Click here to sign up for a free trial of ProspectNow risk-free, and get started on the tool that can find both commercial and residential leads.