Finding your next prospects or generating leads for current clients can be daunting, especially without technology tools on your side. What once required tedious searching through property records and manually pulling comps now can be achieved through property databases and specialized commercial real estate software. In your quest to find the right product for your needs, Reonomy likely has appeared in your search results, leaving you to wonder whether this might be the one. A review of its features, user opinions, and pricing might help you decide.
Overview of Reonomy
Reonomy is a database of about 50 million commercial real estate properties’ information pulled from multiple sources. Users can filter results and search the data using a variety of filters about the property, owners, sales history, and more.
Though Reonomy holds a high rating overall on review sites like FitSmallBusiness.com, multiple reviewers noted concerns about the accuracy of the data. One user found “A lot of inaccurate data compared to some other products I have tried using.” Another professional noted, “The Ownership information is old, outdated, and inaccurate. If seeking to use for telemarketing or email campaigns software is extremely ineffective.”
Another user testimonial similarly praised aspects of Reonomy, finding it a good starting point to find commercial real estate property information, but critiquing the accuracy of owner contact information: “We always conduct additional data mining to corroborate contact information that Reonomy provides, but it still saves time.” This observation was echoed by a real estate syndicator, who wrote, “Pulling the data was a little difficult, and it still needed to be scrubbed.”
For many users, Reonomy’s pricing is not affordable. Says one real estate specialist, “It’s a great tool. Just expensive.” A real estate syndicator commented that the software is “not priced competitively.”
Reonomy plans are annual contracts paid in advance. Plans are available for individuals and teams. A license must be purchased for every user. Individuals can choose between the Professional plan, which starts at $299 per month (though you must purchase 12 months), and the Advanced plan, which offers access to more tools. Plans for teams include additional collaboration tools. Enterprise plans allow for certain customization.
Alternatives to Reonomy
One of the top-ranked alternatives is ProspectNow, a platform with both commercial and residential listings information, featuring 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.
- Digital marketing and direct mail tools that allow for more targeted outreach campaigns.
- APIs and a download-enabled interface that allows integration of the ProspectNow data into other business systems.
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 Local paid tier is the most basic plan, offered at $119 per month. This plan gives you the same features as the free trial, along with 500 credits each month to find owner phone, email, or export data.
- If you need more, you can opt for the Metro plan, also at $119 per month, except you are billed annually. The Metro plan includes 9,000 annual credits and extends your ability to search properties to four counties.
- Team access can be provided under the custom-priced National plan, which provides additional credits, API access, nationwide search capabilities, and an account manager.
Decide for yourself which real estate prospecting tool works best for you. Click here to sign up for a free trial of ProspectNow, and get started on the tool that can find both commercial and residential leads.