When Austin, TX-based RealMassive was founded five years ago, it served as a standard listing marketplace where people could search for property. During the last two years, however, the company has evolved into a real-time data provider and marketplace that wants to make CRE data accessible and affordable to anyone who wants it so they can make better business decisions.
“We’ve leveraged the immense data set from available property listings we accumulated from many years of operating a real-time marketplace and expanded our product strategy to become a comprehensive player in the commercial property data space,” RealMassive CEO Mike Clark told Connected Real Estate Magazine. “There is so much data in commercial real estate and its in disparate locations and places and or restricted by third-party providers—it’s all over the map.”
How RealMassive operates
What RealMassive has done is taken the mass amount of existing CRE data and aggregate the portions of it that are connected to properties that are currently on the market for lease or sale. RealMassive’s model offers up to 250 data points per property including asset type, the year a property was built, vacancy, mortgage terms and asking price.
The company invested in technology that allows it to update information on CRE properties on a timely basis. This service is not only critical to brokers, but anyone else in the CRE industry, including lenders, REIT investors, insurance companies, retailers, site planning companies and government agencies—any entity that might have in interest in a property’s data.
These entities will take that CRE data and pair it with general market, economic data and demographic information to help users make a more informed decision about a property. Although each of these segments might have different use cases, they all need similar core data—which RealMassive is happy to provide.
“What they are trying to do is analyze market trends and value properties to make investment decisions,” Clark said. “Retailers are trying to make decisions on where their next store should be. Investors are trying to maximize portfolio value. Financial Institutions are trying to mitigate risk and enhance valuations.”
What sets RealMassive apart
RealMassive is not alone in this field, but it’s managed to separate itself from the pack—in large part because it is free to list on, as well as search the company’s database. The other factor is RealMassive’s dedication to creating the most robust, accurate and timely data warehouse for CRE information in the industry.
“That’s our vision,” Clark said. “To do that, you have to have really good technology on the backside, because when you’re aggregating data from multiple disparate sources, you have to be able to normalize, de-duplicate, validate and deliver data.”
The company has also gained favor within the industry by not restricting how customers use its data. RealMassive offers flexibility in how customers purchase its data—rather than sell big data packages the include elements that its customers do not need, the company sells it by category like geography.
“If you only want property owner data in Irving, Texas, you can have it,” Clark said. “That’s the flexibility in how you buy. The flexibility in how you use data and download are two big pain points for customers.”
The other pain point for customers is price, according to Clark. He’s encountered numerous enterprise clients that have hundreds of thousands, even millions, of dollars on data for multiple sources every year with other companies, only to get renewal notices stating their bill will double or triple without an explanation.
“It’s perfect timing for us because we know we may not have the 20 to 30-year history for every potential data point , but what we do have is accurate, up to date and we are not going to price gouge our customers.”
RealMassive launches DataQu
Among RealMassive’s technological advancements in CRE data space is DataQu, a data visualization platform that will provide the industry with one software solution to access and evaluate current market activity and historical trends. DataQu is RealMassive’s proprietary technology and it combines data sourced directly from individual brokers and owners, trusted third party providers and public data bases that provide up to 250 distinct data points on properties across the U.S.
DataQu will allow professionals who invest, own or provide commercial real estate services to enhance their research and analysis by eliminating the need to rely only on historical data or quarterly reports. DataQu enables these individuals to analyze trends and activity in their market through the combination of historical property data and real time available listing data and adjust their strategy accordingly. Subscribers can purchase access to data on geographic locations as small as one zip code, or as big as the RealMassive’s nationwide data set. After users set their subscription area, they can choose to supplement their data access with more property details like owner contact information, comparable sales tax and finance data.
“Commercial real estate has lacked a data platform that empowers and enables everyone in the
industry to benefit and innovate,” Clark said when during the DataQu launch announcement. “Our mission at RealMassive is to democratize commercial real estate data and DataQu provides the industry with an alternative platform to stay ahead of market trends that is accessible and affordable for everyone.”