Nearly every major commercial real estate firm is piloting AI, and few have much to show for it. One New York-headquartered platform is betting the payoff starts at the search bar.
Finding a commercial property is only the first hurdle. Before a commercial property deal reaches the negotiating table, buyers and tenants have to find the right asset and work out what it is worth. This early stage is where much of the friction sits, since listings, ownership records, market data, and sales history are spread across separate platforms. That data has traditionally been expensive. Vendr's transaction data for CoStar, the industry's dominant paid database, shows deals ranging from roughly $3,000 to $23,000 a year, averaging about $15,000. CoStar prices by custom quote, so the figure varies by coverage and license.
