CompStak promises to let you “Deal Data Straight From The Source.” But what can it do for your real estate business?
Navigating the world of commercial real estate can be challenging, and it’s often hard for new agents and brokers to break in. There are many platforms out there to help ease the burden and make sense of the mountains of data you’ll need to process. But they aren’t all created equal. Different platforms will have varied specialties and may or may not meet your needs. In this article, we will compare two such platforms: CompStak and ProspectNow.
Overview Of CompStak
CompStak is a commercial real estate data platform. It promises a wealth of accurate and transparent data to help brokerages, agents, and landlords make more informed decisions. This data comes in from various partnered brokerages and appraisers, and in-house data scientists fact check the data through a rigorous process. The CompStak platform also gives you the ability to graph and interpret the data any way your business needs.
- A large nationwide database of commercial properties, crowdsourced by verified brokerages and appraisers and checked for accuracy by in-house data scientists.
- Customized data analytics allow you to create your own reports and heat maps and identify market trends as they happen.
- Suggests promising real estate markets by state.
- An interactive tenant directory that can alert you when existing leases end.
- Easily share reports. Export to an Excel spreadsheet or PDF file.
There are multiple faces of the CompStak platform:
- CompStak Exchange is the base tier for CompStak. It’s completely free but requires an email to sign up. This tier allows you to access property data, analytics, and collaborate with your office. CompStak Exchange is designed with CRE professionals at appraisal firms and brokerages in mind.
- CompStak Enterprise is designed for commercial real estate investment and banking firms. It’s a more powerful version of the platform that lets you track competitors and access more data for underwriting purposes.
- CompStak Analytics allows you to access real-time market analytics.
- CompStak Prospect puts the focus on driving sales by helping you identify B2B buying signals and CompStak’s lease data. There are three tiers for CompStak Prospect:
- Single Market tier for individuals, which includes access to one market and 250 tenant exports a month.
- Multi-Market tier that gives access to up to three markets for three users, with 350 monthly tenant exports for each.
- Custom options for nationwide access, put together with the help of CompStak staff. This tier gives each user 450 tenant exports a month, an account manager, and training.
There are no prices listed for any tier on the CompStak website, but there are options to request a demo for every tier except CompStak Exchange.
There are few reviews available for CompStak, but most of them trend positive. Stephen S, an associate broker in Chicago had this to say about CompStak on the review site G2: “Unlike CoStar, compstak is usually spot on with the information that is provided. not only are you able to get small details on similar comps, but I’m able to better serve my client because of it. I wish I had unlimited credits!”
He also noted that CompStak has been “a lifesaver when I’m in need of specific comparable information.”
Overview of ProspectNow
ProspectNow is another platform that combines a powerful property database with a feature-rich CRM. But it has a few different features.
The platform includes a comprehensive database of commercial and residential properties, which can be useful if you or your brokerage want to deal in both markets. It also includes unique data analytics such as a “likely seller” algorithm, which identifies properties that are likely to sell before they hit the market. The CRM side of ProspectNow allows you to contact prospective clients with a few clicks.
- Comprehensive property search database for millions of commercial and residential properties across the country.
- Contact information for property owners is easy to find, even if the property is owned by an LLC.
- Likely Sellers – Find properties predicted to sell soon, using data analysis and machine learning. Use this algorithm to find your next property before it hits the market, and before your competitors find it.
- Multiple Contact Options – Reach out to prospects by phone, email, or snail mail. Email and postcard templates are included to help you make a strong first impression.
- Direct Advertising – target your prospects online and set up your own omnichannel ad campaign through the ProspectNow platform.
- ROI Calculator – input your current sales metrics and location, and find out how much more money you could be making through ProspectNow.
James R., a senior regional account manager in the financial services field, had this to say about his experience with ProspectNow: “I like that in less than a minute I can get an entire database of owners in an area I’m targeting. Sometimes the phone numbers are correct, but I actually like the interface for prospecting and logging calls. I like being able to look at “How many units,” “Year purchased,” “Lender name,” etc all in the same screen. Every other Commercial Real Estate CRM requires multiple clicks just to see all this information when prospecting.”
A different G2 user in real estate noted: “For the price, you can not beat the analytics you get with Prospect Now. As a residential real estate agent, it shows me data on those neighbors that are most likely to sell in the next home. I can use that information to advertise to just those people. That saves thousands on our marketing budget.”
There are two tiers for the ProspectNow platform: one for residential and one for commercial real estate agents. The residential database covers all properties with up to four units, which the commercial tier will grant access to all property types. Both tiers come with a free trial for three days. At the end of the trial, the residential database costs $119 per month. For the commercial database, you can request a free demo and work on a package that works with your business with a ProspectNow representative.
Are you ready to close more deals and make more money? ProspectNow’s platform is helping real estate agents, brokers, and more do just that. In business since 2008, the data found on ProspectNow comes simplified and at a lower cost than other platforms. Give it a 3-day free trial today and find out what you’re missing.