A new service called Reonomy is hoping to make an impact in commercial real estate search. Reonomy offers a platform that mixes data analytics with something it calls an "adaptive intelligence engine" to help users with their research. The platform serves as a single source for commercial real estate property data, which means brokers, investors and others can save hours that would otherwise be spent carrying out research.
Using the platform makes it easier than ever before to research new commercial real estate investment opportunities. Reonomy works by taking complex property data and transforming it into information that's easily understood. Its search engine also validates property ownership data, property characteristics and financial information.
There's also a canvassing and sourcing tool users can leverage to quickly find comparable properties. In addition, users can add notes to different listings to help them keep organized while searching through data.
Reonomy runs validation algorithms and processes across public data to ensure users receive high-quality information they can trust. The company says its processes are continuously being enhanced to ensure it delivers the most up-to-date, reliable information possible.
Reonomy is pitching its platform as a tool for commercial real estate professionals working in the industrial, office, multi-family and retail spaces. The platform is currently available in beta only, but those who're interested can request early access now.
Reononmy currently only lists properties in New York City, but will launch nationwide during Q2 of this year.