Radio Header

Get Adobe Flash player

"Cyber Tools for Commercial Pros"

Attend This Session

Crane Photo

Wally Papciak Photo
8/6/99 Interview with Chris Crane & Wally Papciak

9888 Carroll Centre Road
San Diego, CA 92126

Print Print this handout

An Overveiw of COMPS.COM

  1. COMPS.COM Inc. provides comprehensive sales comparables on Commercial Real Estate in 40 (soon to be 74) of the largest US markets as well as additional services such as a matching service for broker listings and buyers (REALBID).
  2. The company's productivity tools for Commercial brokers and other Real Estate professionals are focused on two major solutions - the information solution and the electronic commerce platform solution.
  3. Commercial brokers need to provide more value-added services for clients in less time than ever before.
  4. The tools from COMPS.COM to support that challenge are the Confirmed Sales Comparables (E-COMPS), the REALBID Broker Listing Matching Service, a Commercial listing service called DealPoint and an upcoming product called LenderTrack to match borrowers with lenders.
  5. Commercial pros can come to COMPS.COM to get the data needed for acquisition disposition and financing decisions, plus to use the e-platform tools to get deals done faster.
The REALBID Vision

  1. Emmitt DeMoss and Bob Potter from REALBID [Alert 8/7/98] are now important contributors on the COMPS.COM team.
  2. The effective electronic platform they built takes a database of qualified buyers, links it rapidly with new listings, provides prospective buyers immediate notification and the opportunity to get more information, plus notifies brokers of interest so that they can follow up.
  3. The properties get wider exposure, and the time and cost for the entire Commercial transaction is significantly compressed.

  1. This commercial listing service is based on the traditional electronic MLS; DealPoint researches each listing to be sure it is still available, edits the copy and photographs the property to assure quality data.
  2. The listing service was requested by customers of the Sales Comparables business; it is a natural outgrowth of collecting and standardizing data on sales comparables.
  3. Just opened to the national market in May 1999, in July 1999, the site already had aggregate listings posted of $4 billion in transactions representing over 2,000 properties.
Valuation Support Tools

  1. The E-COMPS database can be browsed by anyone for free; sales comparables can be looked up for an area and judged by size or type of property; an actual report can be generated for credit card payment; brokers and appraisers both use COMPS in this way to value a property.
  2. Specialized valuation support tools under development will not replace appraisers but will help Commercial appraisers be more efficient; the tools use a standard methodology to select the comparables to be used in an appraisal.
  3. Automated valuation models used by single-family-residence mortgage lenders are adequate for tract homes, but the income and expense elements and higher values make Commercial valuations more complicated.
  4. Appraisers will not be driven out of the Commercial market, but just like brokers, they will have to add more value in a shorter period of time.
  5. Commercial lenders are under pressure to respond quickly, and shortening the appraisal time is a key way to meet that challenge; technology-efficient appraisers will have a market advantage.
  6. COMPS.COM expects to be one of the data providers for the business site being planned by the Commercial Investment Real Estate Institute.
The Internet Seminar Series

  1. A wariness of the Internet still exists in many segments of the Commercial Real Estate market, but considerable information, much of it free, is available to brokers, lenders, appraisers and other Real Estate pros.
  2. George Gallagher, Director of Marketing for DealPoint, has spearheaded seminars focused on "Data Mining for Commercial Property Due Diligence;" participants learn to put together an information package using an actual case study across a number of markets.
  3. For information, come to the COMPS.COM site and click on "Free Internet Seminars."
Useful Internet Sites

  1. is an interesting search engine that allows you to find the url for any company name. 2. In the property area, Yahoo!Finance is helpful for tenant financing and EDGAR Online, for analysis on tenants that have recently done financial filings.
  2. The Marshall & Swift home page has building cost information.
  3. For stock quotes, try
  4. Microsoft's TerraServer has great areal photos.
  5. The Martindale Hubble site gives information on lawyers.
  6. For demographics, and are good resources.
  7. Most of the industry organization sites such as NAREIT (great leads on potential buyers) are worthwhile.
  8. Additional creative favorites include Loopnet and
Plans after the IPO

1. The $62 million net proceeds from the IPO will be used to expand the geographical markets for
  1. which Confirmed Sales products are offered, to develop complementary databases, to pursue acquisitions and to leverage the productivity tools offered Commercial brokers, lenders and appraisers.
  2. Ultimately, expect 2-3 providers of Commercial Real Estate listings to survive; a number of creative competitors are in the running.
  3. COMPS.COM is well positioned to take advantage of the huge opportunity in the major, vertical Commercial market.
  4. In three years, the marketplace will be very efficient and more liquid; rapid execution will result from electronic commerce; the successful pros will be the ones who add significant value by embracing the technology and data available.
Contact Information for Chris Crane & Wally Papciak:

Real Estate Sites & Tools in this Briefing:

Confirmed Sales comparables
Yahoo! Finance
EDGAR Online
The Marshall & Swift home page
Stock Quotes
Aerial photos
Lawyer locator
Leads on potential buyers