CREXi - Detailed Review
Real Estate Tools
CREXi - Product Overview
CREXi Overview
CREXi is a comprehensive online platform dedicated to streamlining the commercial real estate (CRE) process, leveraging advanced technology and AI to connect buyers, sellers, tenants, and brokers efficiently.Primary Function
CREXi serves as a one-stop solution for all aspects of commercial real estate transactions. It allows users to list, search, and close deals on commercial properties, from office spaces and retail stores to industrial warehouses. The platform is designed to accelerate and simplify the entire CRE process, from attracting leads to negotiating terms and closing deals.Target Audience
CREXi caters to a diverse range of users within the commercial real estate industry. This includes:Brokers
Independent agents and large brokerage firms who use the platform to list properties, manage leads, and connect with potential buyers or tenants.Investors
Individuals and institutions looking to purchase or invest in commercial real estate properties. They utilize CREXi to search for investment opportunities, analyze market trends, and connect with sellers or brokers.Tenants
Businesses seeking to lease commercial properties, who can search for available spaces, compare options, and negotiate leases through the platform.Key Features
CREXi offers several key features that make it a valuable tool for its users:Free Listing Marketplace
Anyone can create an account and list or search properties for free. The platform boasts over 500,000 U.S. properties and more than 2.5 million monthly users.Advanced Search and Analytics
Users can filter listings based on various criteria such as property type, location, size, and price. The platform also provides access to real-time market trends, demographics, sales comparables, and lease data through its Intelligence subscription.AI and Machine Learning
CREXi uses AI and machine learning to match buyers and tenants with the ideal listings, ensuring high-quality leads and efficient deal closure.Crexi PRO Membership
This paid membership offers exclusive tools, including lead generation, marketing resources, and workflow management. PRO members benefit from higher visibility in search results, inclusion in targeted email campaigns, and access to advanced analytics.Online Auction Platform
CREXi hosts an online auction platform where pre-qualified buyers can bid on properties, facilitating quick and non-contingent transactions that can close within 30 days.Elite Service
For select listings, CREXi offers a white-glove service that includes customized property marketing and maximum exposure to potential buyers or tenants.Data Center and Market Reports
The Intelligence subscription provides access to a vast database of property records, sales comparables, lease data, and demographic insights, helping users make informed decisions. By consolidating various CRE tools into a single, user-friendly platform, CREXi simplifies and accelerates the commercial real estate process, making it an essential tool for industry professionals. CREXi - User Interface and Experience
User-Friendly Interface
Ease of Use
CREXi’s website and platform are designed for ease of use, whether accessed via desktop or mobile devices. The interface is intuitive, allowing users to quickly find and manage the information they need.Property Management
For example, users can create and manage property listings with detailed descriptions, high-quality images, and interactive maps, which helps attract potential buyers or tenants.Search and Filtering Capabilities
The platform offers advanced search capabilities, enabling users to filter listings based on various criteria such as property type, location, size, price, and desired cap rate. This makes it easier for buyers, sellers, and tenants to find properties that match their specific needs.Real-Time Data and Analytics
CREXi provides real-time market data, analytics, and trends, which are presented in a clear and understandable format.Data Visualization
Users can visualize dynamic data like population, income, and traffic using responsive maps, and access localized demographic insights within a specified radius of selected properties. This real-time data helps users make informed decisions and stay ahead of market trends.Deal Management
The platform streamlines the entire deal process, from initial negotiations to closing.Centralized Communication
Users can communicate with each other, track progress, and manage documents all in one place. This centralized approach reduces the risk of errors and saves time.Lead Generation and Management
CREXi PRO offers a lead generation tool that helps match listings with the right buyers and tenants more efficiently.Targeted Exposure
Properties listed by PRO users are highlighted in relevant on-site searches and included in targeted broker-branded blasts to prospective buyers, tenants, or investors.Collaboration and Communication
The platform promotes collaboration by allowing users to share listings, notes, and documents.Enhanced Teamwork
This fosters teamwork and enhances communication between brokers, investors, and tenants, making the transaction process smoother.Customer Support and Feedback
Users have praised CREXi for its excellent customer support, which is responsive and thorough.Continuous Improvement
The platform also integrates feedback from users to continuously improve its features and user experience.Overall User Experience
Overall, CREXi provides a seamless and efficient user experience.Valuable Resource
The platform is well-regarded for its ease of use, with many users noting that it is easy to implement and integrate into their daily processes. The user-friendly UI/UX and the comprehensive suite of tools make CREXi a valuable resource for commercial real estate professionals. CREXi - Key Features and Functionality
CREXi Overview
CREXi is a comprehensive online platform that leverages advanced technology, including AI and machine learning, to streamline the commercial real estate (CRE) process. Here are the key features and functionalities of CREXi:Listing Management
CREXi allows users to create and manage property listings efficiently. Brokers can upload photos, videos, and detailed descriptions to attract potential buyers or tenants. This feature simplifies the process of showcasing properties and makes it easier for buyers to find what they are looking for.Marketplace
The platform serves as a centralized marketplace where buyers, sellers, and brokers can connect. Users can search for properties based on various criteria such as location, price, and size. This centralized approach makes it easier to find the perfect investment opportunity and facilitates transactions.Deal Management
CREXi streamlines the deal-making process by providing tools for negotiation, document sharing, and electronic signatures. This functionality simplifies communication between parties and speeds up the transaction process, ensuring that deals can be closed more quickly and efficiently.Analytics and Market Intelligence
CREXi offers powerful analytics tools that provide insights into market trends, property performance, and investment opportunities. Users can access over 153 million nationwide property records, 13 million sales comps, and lease data on over 1.7 million spaces in key markets. The platform also includes interactive demographic maps to visualize data like population, income, and traffic, helping users make informed decisions based on real-time data and market intelligence.Crexi Intelligence
This premium feature enables users to evaluate any property or market nationwide. It provides access to comprehensive nationwide market reports, demographic insights, and research trends. Users can also find and export verified CRE ownership contact information from public records, which is crucial for business development.Crexi PRO
The Crexi PRO membership offers a robust lead generation tool. PRO users get their properties listed at the top of relevant on-site searches and are included in targeted broker-branded blasts to prospective buyers, tenants, or investors. This helps match listings with the right buyers and tenants much faster.AI and Automation
CREXi integrates AI and machine learning to enhance productivity and efficiency. For instance, the platform uses Salesforce’s Einstein 1 Platform to automate administrative tasks such as drafting client emails and summarizing call notes. This allows sales reps to save up to five hours a day and focus 80% of their time on building relationships with customers. AI also helps in producing consistent call summaries and identifying patterns to close more deals.Collaboration Tools
The platform promotes collaboration among users by allowing them to share listings, notes, and documents. This fosters teamwork and enhances communication between brokers, investors, and tenants, making the entire CRE process more seamless.Auction Platform
CREXi features an online auction platform where sellers can directly transact with virtual bidders. This platform provides access to all property and ownership information, enabling users to connect with owners directly or export commercial ownership contact information from public property records.Conclusion
In summary, CREXi combines a range of tools and services to make the commercial real estate process more efficient, leveraging AI and machine learning to automate tasks, provide valuable market insights, and facilitate smoother transactions. CREXi - Performance and Accuracy
Performance
CREXi is highly regarded for its performance in several areas:Lead Generation and Management
CREXi uses AI-driven tools to track buyer actions, monitor user clicks, and score leads on a 1-5 scale. This helps listing agents target their audience more effectively and filter search results based on lead strength. The platform provides full phone numbers and emails for leads, facilitating targeted email blasts and marketing efforts.Sales Automation
By integrating Salesforce’s Einstein 1 Platform, CREXi has significantly improved sales productivity. The AI tools automate administrative tasks such as drafting client emails and summarizing call notes, allowing sales reps to focus up to 80% of their day on building relationships with customers. This has resulted in saving up to five hours a day for sales reps.Market Analytics
CREXi offers detailed market analytics, including data on buyer behavior, property views, and market trends. This helps brokers and investors make informed decisions. For example, the platform saw a 34% increase in buyer engagement with commercial real estate listings in Q1 2022 compared to the previous quarter.Accuracy
The accuracy of CREXi’s data and AI-driven insights is a significant aspect of its performance:Data Sources
CREXi retrieves sales comps from county and state records, which is a unique approach compared to relying on brokers for this information. This method can enhance the accuracy of the data provided.AI-Driven Insights
The platform uses AI to analyze user behavior and predict intent. For instance, AI tools track over 150 behavioral signals to assign predictive lead scores, which has been shown to achieve an accuracy of 85-92% in predicting sales outcomes.Limitations and Areas for Improvement
While CREXi is strong in many areas, there are some limitations and potential areas for improvement:User Interface and Data Export
Although CREXi has a user-friendly interface and allows users to export data, there is no specific mention of any limitations in this regard. However, the ease of use and data export capabilities are generally praised.Dependence on User Activity
The accuracy and effectiveness of CREXi’s lead scoring and market analytics depend on the activity of its users. If user engagement is low, the data may not be as comprehensive or accurate.Comparison with Other Platforms
While CREXi excels in lead generation and sales automation, other platforms like Reonomy and Yardi Matrix may offer different strengths, such as more extensive property data or coverage of specific market segments. For example, Reonomy uses machine learning to identify property opportunities but has limitations in comp data and market insights freshness. In summary, CREXi performs well in lead generation, sales automation, and market analytics, with a strong focus on accuracy through its use of AI and direct data sources. However, its effectiveness can be influenced by user engagement, and it may have some limitations compared to other specialized platforms in the commercial real estate data space. CREXi - Pricing and Plans
CREXi Pricing Plans Overview
CREXi offers a structured pricing plan with various tiers, each providing different levels of features and benefits. Here’s a breakdown of what you can expect from each plan:
Free Plan
- CREXi allows anyone to create an account, list properties, and search for listings without any cost or limits.
- Free members can access basic property details, analytics, and send and track emails.
- They also receive quality leads and timely auction alerts.
- This plan is ideal for those who want to list and search properties without incurring any costs.
Intelligence Plan
- This plan is available in two payment options: monthly and annually.
- Monthly: $249 per month.
- Annually: $2,388 per year, which works out to $199 per month.
- The Intelligence plan provides access to nationwide real-time market trends, demographics, detailed property records, sales comps, and lease data.
- Users can access over 153 million property records, nationwide sales comps, and lease data on over 1.7 million spaces in key markets.
- It also includes interactive demographic maps, market insights, and research trends.
Crexi PRO Plan
- This plan has custom pricing, which means you need to contact CREXi directly for a quote.
- Crexi PRO is designed for brokers and includes features such as lead generation, marketing, and workflow management tools.
- PRO subscribers get their properties listed at the top of relevant on-site searches and are included in targeted broker-branded email blasts to prospective buyers, tenants, or investors.
- They also have access to complete lead and CRE ownership contact information, along with a dedicated customer success team.
Key Features Across Plans
- Listing and Searching: Free for all users, with unlimited property listings and basic property details.
- Data Analytics: The Intelligence plan offers extensive data analytics, including sales comps, property records, and demographic insights.
- Lead Generation: Crexi PRO enhances lead generation with detailed lead data and targeted email campaigns.
- Customer Support: Crexi provides a dedicated customer success team for PRO subscribers.
Conclusion
In summary, CREXi offers a free plan for basic listing and searching, an Intelligence plan for advanced data analytics, and a Crexi PRO plan for enhanced marketing and lead generation features, all of which are tailored to support different needs within the commercial real estate industry.
CREXi - Integration and Compatibility
Integrations
CREXi integrates with several software and services to streamline the commercial real estate process. For instance, it has recently announced an integration with REALSTACK, a land industry leader in brokerage websites and software. This integration, through REALSTACK’s LandSync, allows brokerages to automatically send listings to the Crexi.com marketplace without additional data entry, and updates to brokerage listings in REALSTACK synchronize with Crexi listings.
Additionally, CREXi can integrate with automation platforms such as Zapier and Integromat, which enable users to automate routine tasks and workflows. This is part of a broader ecosystem that includes tools and apps from various automation platforms.
Compatibility Across Platforms and Devices
CREXi is compatible across multiple platforms, including web, Android, and iPhone/iPad. This multi-platform support ensures that users can access and manage their commercial real estate activities from different devices, enhancing flexibility and convenience.
Additional Features and Tools
CREXi also integrates with other tools such as Google Maps, which allows real estate agencies to display accurate locations and street views to buyers. The platform supports various features like campaign management, email marketing, lead capture, and property management, all of which can be accessed through its centralized platform.
Data and Analytics Integration
CREXi’s premium Intelligence product integrates extensive data and analytics, including over 153 million property records, nationwide sales comps, lease data, and interactive demographic maps. This integration provides users with comprehensive market insights and data necessary for informed decision-making.
Conclusion
In summary, CREXi’s integrations and compatibility across different platforms and devices make it a versatile and efficient tool for commercial real estate professionals, allowing them to manage listings, leads, and transactions seamlessly.
CREXi - Customer Support and Resources
Customer Support Options
Phone Support
You can reach CREXi’s customer service team via several phone numbers. The primary toll-free number is (888) 273-0423, and another option is (800) 952-5210. If these lines are busy, you can also call (916) 445-1254.
Email Support
For written inquiries or assistance, you can email the support team at support@crexi.com. There are also specific email addresses for different types of queries, such as upgrade@crexi.com for content-related questions, contracts@crexi.com for membership issues, copyright@crexi.com for legal matters, and privacy@crexi.com for privacy concerns.
Live Chat
CREXi provides an online chat feature on their website, accessible during their operating hours. This allows for instant responses from a customer visual assistant. You can open the platform and click the blue icon on the right-hand side of the screen to initiate a chat.
Operating Hours
Customer support is available Monday through Friday from 4:00 AM PST to 7:00 PM PST. On weekends and national holidays, you can refer to the website for information.
Additional Resources
Help Center
CREXi has a comprehensive help center where users can find answers to common questions and access guides on using the platform.
Corporate Office and Mailing Address
For any physical correspondence or visits, CREXi’s headquarters is located at 5510 Lincoln Blvd Suite 400, Los Angeles, California 90094. The mailing address is 1625 North Market Blvd, Suite N 112, Sacramento, CA 95834.
AI-Driven Tools and Features
CREXi leverages AI to enhance user productivity. For example, they use Salesforce’s Einstein 1 Platform to automate administrative tasks, such as drafting emails and summarizing call notes, allowing sales reps to focus more on building customer relationships.
Market Analytics and Real-Time Leads
The platform provides real-time leads, AI-driven marketing tools, and detailed market analytics to help brokers, investors, and developers streamline property listings and accelerate sales cycles.
By offering these diverse support options and resources, CREXi ensures that users can efficiently manage their commercial real estate needs and receive the assistance they require in a timely manner.
CREXi - Pros and Cons
When considering CREXi as a real estate tool
Especially in the context of its AI-driven features, here are some key advantages and disadvantages to be aware of:
Advantages
Streamlined Workflow and Efficiency
CREXi leverages AI to automate monotonous tasks such as drafting client emails, summarizing call notes, and conducting market research. This saves sales reps significant time, allowing them to focus up to 80% of their day on building relationships with customers.
Comprehensive Data Analytics
CREXi offers access to a vast array of data, including over 153 million property records, 13 million sales comps, and lease data on over 1.7 million spaces. This data, combined with real-time market trends and demographic insights, helps users make informed decisions.
AI-Driven Marketing Tools
The platform uses AI to match buyers and tenants with ideal listings, and it provides AI-driven marketing tools to accelerate sales cycles and enhance market visibility.
Free and Premium Listings
CREXi operates as a free marketplace where anyone can list properties and search for listings without limits. Premium subscriptions like CREXi PRO and Intelligence offer additional features such as lead generation, marketing, and workflow management tools.
Enhanced Lead Generation
CREXi PRO provides full access to the platform’s offerings, including top-listed properties in relevant searches and targeted broker-branded blasts to prospective buyers and tenants. This helps match listings with the right buyers and tenants more efficiently.
Disadvantages
Technical Barriers
Not all CRE professionals may be tech-savvy enough to fully leverage CREXi’s features, which can be a barrier to effective use.
Pricing Transparency
While CREXi offers competitive annual pricing, the specific pricing details for CREXi PRO and Intelligence subscriptions are not publicly available, which might make it difficult for some users to plan their budget.
Dependence on AI
While AI automation is a significant advantage, there is still a need for human interaction to build relationships and close deals. Over-reliance on AI could potentially hinder the personal touch required in real estate transactions.
Conclusion
In summary, CREXi offers a powerful suite of tools that can significantly enhance efficiency and decision-making in commercial real estate through its AI-driven features and comprehensive data analytics. However, it may present some challenges for less tech-savvy users and lacks transparent pricing for its premium services.
CREXi - Comparison with Competitors
When comparing CREXi to other AI-driven real estate tools, several unique features and potential alternatives stand out.
Unique Features of CREXi
- Listing and Marketing Services: CREXi is renowned for its comprehensive listing and marketing services. It offers features like listing syndication, premium listings, and advertising tools, which help brokers increase the visibility of their properties and generate leads.
- Lead Generation and Scoring: CREXi stands out with its lead scoring system, which rates leads on a 1-5 scale, providing full contact information and allowing users to filter search results based on lead strength. It also facilitates monthly targeted email blasts and tracks buyer actions to help agents target their audience more effectively.
- Property Data and Research: CREXi retrieves sales comps from county and state records, offering a unique approach compared to relying on brokers for this information. It also provides access to commercial property data, including CMBS and private loan data, and ownership contact information through its PRO plan.
- Market Intelligence and Geospatial Intelligence: CREXi provides market intelligence, property search capabilities, and geospatial intelligence, leveraging geographic information systems (GIS) to gather and visualize property data. This helps users gain a comprehensive view of commercial and residential property markets.
Potential Alternatives
Yardi Matrix
- Specialization in Multifamily Properties: Yardi Matrix is particularly strong in providing data on multifamily properties with 50 or more units, covering 178 markets. It includes detailed information on all loan types and is supported by a large team of research analysts. However, it may not be as robust for office, retail, and other non-multifamily assets.
- Institutional-Grade Data: Yardi Matrix offers highly reliable and objective data, making it a strong alternative for those focusing on major market research and business development.
HouseCanary’s CanaryAI
- End-to-End Solutions: CanaryAI is an AI-powered real estate assistant that integrates institutional-grade data with AI technology to provide end-to-end solutions for investors. It is beneficial for acquisition, underwriting, and ongoing performance monitoring, but may be more geared towards investors rather than general real estate agents.
- Comprehensive Analytics: Unlike CREXi, CanaryAI focuses more on providing detailed analytics and forecasting, making it a good choice for investors seeking comprehensive data and analytics.
Saleswise
- AI-Driven CMAs and Automation: Saleswise is an AI-powered tool that helps streamline tasks such as creating CMAs, writing emails, and visualizing room transformations. It integrates live market data and provides tools for communication and marketing, but is more focused on residential real estate rather than commercial.
- User-Friendly Tools: Saleswise offers a range of tools to help agents serve clients and close deals, including email generation and virtual room remodels, which can be an attractive alternative for agents looking for automation in their daily tasks.
Key Differences
- Focus: CREXi is primarily focused on commercial real estate transactions, offering a wide range of tools for listing, marketing, and property data management. In contrast, alternatives like Yardi Matrix and HouseCanary’s CanaryAI have more specialized focuses, with Yardi Matrix on multifamily properties and CanaryAI on end-to-end investment solutions.
- User Base: CREXi is particularly strong in its ability to connect brokers with principals and buyers directly, which is a unique feature compared to other platforms that may not have such a high percentage of direct buyers and principals.
- Integration and Automation: While CREXi offers integration with CRM tools, MLS feeds, and other real estate software, alternatives like Saleswise focus more on automating specific tasks such as CMAs and email generation.
In summary, CREXi’s strengths in listing and marketing services, lead generation, and comprehensive property data make it a versatile tool for commercial real estate brokers. However, depending on specific needs, alternatives like Yardi Matrix, HouseCanary’s CanaryAI, and Saleswise can offer specialized features that might be more suitable for different aspects of real estate transactions.
CREXi - Frequently Asked Questions
What is CREXi and what does it offer?
CREXi is a comprehensive commercial real estate platform that streamlines the process of buying, selling, and leasing commercial properties. It provides a marketplace where brokers can list properties and connect with millions of potential buyers and tenants. The platform is powered by AI and machine learning to bring high-quality leads and accelerate the deal-closing process.What are the key features of CREXi?
CREXi offers several key features, including listing syndication, a listing management portal, agent profiles, premium listings, website integration, CMA tools, mortgage calculators, CRM and MLS integration, and advertising and marketing tools. Additionally, it provides market intelligence, property search, commercial property data management, geospatial intelligence, and report generation capabilities.What is the CREXi PRO membership, and what benefits does it offer?
The CREXi PRO membership is a paid subscription that provides brokers with exclusive tools and analytics to close deals faster. It includes a dedicated customer success manager, targeted email campaigns, and a PRO badge on listings to build credibility with principals and tenants. This membership helps brokers gain maximum exposure for their listings and differentiate themselves in the market.What is the CREXi Intelligence subscription, and what does it include?
The CREXi Intelligence subscription offers access to sales comparables, market reports, analytics, demographic information, and a Data Center for researching CRE trends. This subscription is available on a monthly or annual basis, with the annual plan costing $2,388 and the monthly plan costing $249.How does the CREXi Auction platform work?
The CREXi Auction platform is a digital environment where sellers and buyers can transact commercial real estate deals. It ensures a competitive arena for pre-qualified buyers and can close deals with non-contingent contracts in as little as 30 days. For select listings, CREXi also offers an Elite service, a white-glove service that partners listings with an experienced team for maximum exposure and transaction success.Does CREXi offer any mobile app?
Yes, CREXi provides a mobile app for both iOS and Android, allowing real estate agents to access the platform on-the-go. This app helps agents manage listings, track leads, and stay updated on market activities from their mobile devices.How does CREXi integrate with other real estate tools and software?
CREXi integrates with various real estate tools and software, including CRM systems, MLS feeds, property management software, and document management software. These integrations help automate administrative and operational tasks, collect leads, and ensure accurate and up-to-date listing information.What kind of support does CREXi offer to its users?
CREXi offers several support resources, including a help center with articles on creating, managing, and optimizing listings and searches. Additionally, PRO members have access to a dedicated customer success manager to help them utilize all the features of the platform effectively.Are there any setup fees or free trials for CREXi?
There are no setup fees for CREXi, but it does not offer a free trial or a free/freemium version. Users can choose from different pricing plans, including the Intelligence subscription and the custom-priced CREXi PRO membership.How does CREXi help in managing and tracking leads and deals?
CREXi provides tools for pipeline management, opportunity tracking, and contract management. These features help brokers build and maintain an inventory of listings, track client contact information, and simplify the creation and review of real estate documents and contracts.