Continuing our exploration of various commercial real estate technology platforms, today we will take a look at Compstak, a free tool that provides analyst-reviewed comp data and analytics to commercial real estate professionals.
Included in the data are lease comps, sales comps, property information and other analytics. This information can be compiled into customized reports based on your client’s needs and wants.
Additional in-depth information that is available are things like starting rents, landlord concessions, and sales histories of competing properties to aid in negotiations.
Valuation tools such as project income, estimated fair market value and the monitoring of trends across properties and submarkets help brokers and appraisers get a 360 degree view of a property.
Pros and Cons
Positive reviews online of Compstak is its user-friendly interface. The platform allows brokers to best serve their clients because it provides users with helpful, detailed information about properties being sold, rented, or leased. Additionally, there are reward points that users receive when they share commercial property data.
The major negative review about Compstak is that because the data is crowdsourced, some information is not accurate, and users would prefer to get the information from the source. Some users also find inputting information in the software is time consuming.
Have you tried Compstak? Give us your feedback on it!