NAR inks partnership with Crexi

Crexi will integrate its data with Realtors Property Resource, a database for commercial and residential realtors

National /
May.May 14, 2019 10:30 AM
NAR CEO Bob Goldberg (left) and Crexi CEO Michael DeGiorgio

NAR CEO Bob Goldberg (left) and Crexi CEO Michael DeGiorgio

A year-and-a-half after the National Association of Realtors’ commercial tech partner, Xceligent, shut down, NAR is partnering with another real estate platform. And it’s not the CoStar Group.

NAR, the largest trade association in the U.S. with more than 1.3 million residential and commercial real estate members, finalized an agreement with the Commercial Real Estate Exchange Inc., known as Crexi, according to a release.

Crexi is a venture-back commercial real estate marketplace and technology platform for buyers, brokers, agents and tenants. The Marina Del Rey, California-based company, led by founder and CEO Michael DeGiorgio, was launched in 2015 and opened a Miami office in 2016. It has listed more than 90,000 commercial properties and facilitated deals totaling more than $450 billion in property value, the release states.

Crexi will integrate its data with Realtors Property Resource, a database for commercial and residential realtors.

“In the evolving world of real estate technology, it is crucial that NAR aligns with an innovative, public facing commercial listing portal that aggregates data from multiple sources, displays commercial properties and creates national exposure for our members’ listings,” NAR CEO Bob Goldberg said in the release.

Crexi, which has a free service, will give NAR members an exclusive discount for its premium service, according to Crexi’s vice president of operations and strategy, Eli Randel.

NAR previously had a partnership with Xceligent, a Blue Springs, Missouri-based real estate data firm. Embroiled in a multimillion-dollar lawsuit with CoStar, Xceligent shut down and filed for Chapter 7 liquidation in December 2017. NAR first inked a deal with Xceligent in 2012, making it the exclusive provider of commercial real estate information services with NAR members.

CoStar has long dominated the commercial real estate data space. Earlier this year, Moody’s Analytics launched its long-planned commercial real estate data portal in a move to compete with CoStar. Despite the growing threat of Moody’s, CoStar’s reported a 20 percent annual jump in revenue in April.


Related Articles

arrow_forward_ios
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Ytech's Yamal Yidios with 1500 Brickell Avenue
Ytech buys historic Brickell château, plans restoration
Ytech buys historic Brickell château, plans restoration
50 and 60 Northeast Third Street and 222 and 234 Northeast First Avenue (Google Maps)
Namdar pays $41M for downtown Miami apartment towers dev site
Namdar pays $41M for downtown Miami apartment towers dev site
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Cognito's John Backus and 7960 Biscayne Point Circle (LinkedIn, Zillow)
Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...