It's Your Data, Why Doesn't Costar Pay You?
In residential real estate, there is an industry partnership solution to data aggregation called MLS. In commercial real estate, there is basically just Costar (and all the companies they own: LoopNet, CityFeet, Showcase, etc...). They bully customers and competitors, because they're the only game in town. They take all the data from everyone, charge everyone for it, and give nothing to everyone who actually contributed the data in return.
It doesn't have to be this way. Costar SHOULD NOT be the only one getting value from your data. So we built Rudolph.
Not only is managing your CRE listings on Rudolph free, we pay you for your data!
That's right, we literally want to pay you to market your listings. We share over 25% of our revenue with the data providers who make our listing platform valuable. It's like YouTube, Uber, or Airbnb except for real estate data. If you want to know more about how exactly this works, check out our Partner's Guide.
How do we make money?
While managing your listings as an individual broker is free, firms can pay to have tools to manage their listings at a firm or office level along with a suite of analytics. Additionally, we charge for unlimited usage and premium features like exporting reports, saving searches, and notifications. Customers also can search other sources of CRE data, including incredible data from Commercial Mortgage Backed Securities, tenant CRE disclosures from annual reports, and proprietary CRE studies.
We started as a niche CMBS CRE data company, but talking with customers about their data solutions, and the frustrations they had with Costar led us to question the status quo. Why isn't there some kind of incentive for CRE professionals to share their data? Why doesn't a Youtube/Airbnb/Uber exist for CRE data? Why is the industry stuck with Costar who has free reign to take everyone's data, charge everyone for it, and give nothing back to those who made their products valuable in the first place. So we figured we'd build it.