The Chicago-based CCIM Institute, which provides services for Certified Commercial Investment Members with special training in commercial real estate, is preparing to launch a new Web-based data exchange in late March.
The data exchange, known as CCIMREDEX, is being developed to increase the exposure of property listings and streamline the process of entering information into databanks. The technology will allow users to enter information just once before it is disseminated across multiple data platforms. That will save the time it would otherwise take to enter the data multiple times in several listing services and improve efficiency.
The exchange will show properties for sale and for lease, and will include each property’s location, description, financial history, and sales and leasing history. The Web site will allow users to edit, search and map the properties.
To date, CCIMREDEX has entered into partnerships to exchange commercial real estate listings with ePropertyData, PropertyLine, Proxio, TotalCommercial and RealUp. The partnerships are expected to result in local, national and international viewership for CCIMREDEX member listings.
The information provider ePropertyData, owned by the National Association of Realtors (NAR), operates NAR’s CommercialSource.com Web site, launched in May 2008. Still growing, CommercialSource.com uses data from 94 content providers aggregated from local multiple listing services, commercial registries and licensed brokers.
“CCIMREDEX is an advanced and unique property data exchange for the members of the CCIM Institute,” says Todd Kuhlmann, director of CCIMREDEX in Dallas. “Users will log in to www.ccimredex.com to access the online system.”
Many CCIM designees and candidates already use ePropertyData’s CIE systems and CommercialSource.com, says Kuhlmann. “This partnership will combine NAR and CCIM’s technology to add great value for all of our members.”
CCIMREDEX can be used to analyze a property an investor owns or is considering purchasing. It can also be used to track the property or prepare a listing presentation.
“An analogy that we like to use with CCIMREDEX is comparing it to the iPhone. The true power of CCIMREDEX is in the third-party applications.” The system uses application tools to run financial and lease analyses on properties, and to provide demographic information and manage documents. The applications also can be used to create PDF proposals, Flash Web sites, eBooks and other cutting edge marketing tools, says Kuhlmann.
James Marrelli, CEO of ePropertyData, calls the agreement with CCIM a “win-win” partnership. “[It] is another step in the right direction to empower the commercial real estate industry and its Realtors with knowledge and efficiency.”
CCIMREDEX is also partnering with RealUp, the free commercial real estate listing and information service. After the new data exchange is launched on March 31, CCIM Institute members will be able to access their RealUp listings on the new site. They will also be able to distribute their listings to RealUp.com.
“RealUp has been a forerunner in integrating with CCIMREDEX,” says Kuhlmann. Listing on RealUp will also help CCIM members gain additional exposure for their commercial listings free of charge, he adds.