Reonomy - Detailed Review
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Reonomy - Product Overview
Introduction to Reonomy
Reonomy is an AI-powered data platform specifically designed for the commercial real estate industry. Its primary function is to provide comprehensive property information and market insights, enabling real estate professionals to make informed decisions and drive business success.
Target Audience
Reonomy caters to a diverse range of professionals in the commercial real estate sector, including brokers, investors, lenders, and developers. These users rely on Reonomy for various tasks such as property searches, due diligence, market analysis, and lead generation.
Key Features
Comprehensive Data Coverage
Reonomy offers access to a vast database of commercial real estate information, including property details, ownership history, sales records, and market trends. The platform aggregates data from public records, proprietary sources, and user-generated content, covering over 54 million commercial properties and 68 million property transactions.
AI-Powered Engine
The platform utilizes artificial intelligence and machine learning algorithms to analyze and organize vast amounts of data. This technology enables the extraction of relevant information from unstructured data sources, such as property descriptions and documents, and provides personalized recommendations and predictive analytics.
Advanced Search Capabilities
Users can filter properties using over 200 search criteria, including address, submarket, owner name, property type, and more. The platform also features an interactive map for spatial searches, allowing users to zoom in or draw boundaries to specify search areas.
Market Insights and Trends
Reonomy provides valuable insights into market trends, helping users identify opportunities, assess risks, and optimize their strategies. The platform generates a knowledge graph that ties together disparate records, offering a comprehensive view of the market.
User-Friendly Interface
The Reonomy web application is intuitive and easy to use, with a dynamic mapping function and the ability to create and export lists for tracking and following up on leads. The data is refreshed weekly, ensuring users have access to the most current information.
Customizable Solutions
Reonomy allows users to create custom reports and track market trends in real-time. The platform also offers customized data and analytics services to meet the specific needs of individual clients and partners.
By combining these features, Reonomy empowers commercial real estate professionals to streamline their workflow, make better decisions, and close deals more efficiently.
Reonomy - User Interface and Experience
User Interface Overview
The user interface of Reonomy is designed to be intuitive and user-friendly, making it accessible to a wide range of commercial real estate professionals.Ease of Use
Reonomy’s web application is praised for its ease of use. The interface is straightforward and easy to learn, even for new users. The search function is particularly intuitive, allowing users to filter properties based on over 200 criteria, such as property name, asset type, address, city, form of ownership, debt status, and sales period. This flexibility enables users to narrow down their searches efficiently.Search Tools
The platform offers two primary methods for searching properties: by filters and by map. Users can use the filter options to search for properties based on specific criteria, and they can also use the interactive map to zoom into specific areas, draw a radius or polygon to define their search area, and identify properties within that boundary. This dual approach makes it easy for users to find the information they need quickly.Interactive Mapping
The interactive mapping feature is a standout aspect of Reonomy’s interface. Users can zoom in or out to specific regions, use radius and polygon tools to define search areas, and visualize property locations and details directly on the map. This visual approach helps users to better understand market dynamics and property distributions.Data Access and Export
Reonomy allows users to access detailed property information, including ownership details, transaction history, building characteristics, and market trends. Users can save their searches and run them multiple times to see updated data, and they can also export search results to Excel files for further analysis. This functionality ensures that users can make informed decisions based on the most current data available.Customer Support
While the interface is generally easy to use, Reonomy also provides comprehensive customer support. The platform includes a Help Center with training guides, FAQs, and best practices. Users can also reach out to customer support via a chatbot or email, and paying subscribers are assigned a dedicated customer success representative to address any questions or issues promptly.Overall User Experience
The overall user experience with Reonomy is positive, with many users appreciating the platform’s intuitive interface and powerful search capabilities. However, some users have noted issues with data accuracy, particularly for smaller properties and markets, and the lack of certain features such as lease comps and team collaboration tools.Conclusion
In summary, Reonomy’s user interface is designed to be easy to use, with a focus on intuitive search tools, interactive mapping, and comprehensive data access. While there are some limitations, the platform generally provides a positive user experience for commercial real estate professionals. Reonomy - Key Features and Functionality
Reonomy Overview
Reonomy is an AI-driven commercial real estate data platform that offers a range of powerful features and functionalities, making it a valuable tool for real estate professionals. Here are the main features and how they work:Comprehensive Data Coverage
Reonomy aggregates data from a vast array of sources, including public records, proprietary databases, and third-party providers such as CoreLogic, BlackKnight, and Dun & Bradstreet. This data includes information on over 54 million commercial properties, 68 million property transactions, 5.2 million companies, and 30 million owners and contact records.AI-Powered Data Analysis
The platform uses advanced machine learning algorithms to analyze and organize this vast amount of data. These algorithms can identify patterns, trends, and anomalies that might be invisible to the human eye, providing predictive analytics that help users anticipate market shifts, identify promising investment opportunities, and mitigate risks.Reonomy ID
Reonomy’s proprietary Reonomy ID system acts as a universal identifier, mapping all records to the correct source. This ensures that all data is standardized and easily accessible, allowing users to discover new depths in the data they already have.Advanced Property Search
The platform offers highly specific search capabilities with over 200 filters, enabling users to pinpoint specific commercial properties based on criteria such as location, property type, size, age, and ownership details. This feature helps users quickly identify potential properties of interest and access rich data sets that include valuation metrics, tenant information, and even satellite imagery.Market and Demographic Data
Reonomy provides access to demographic and market data, which supports decision-making by offering insights into market trends, sales activity, and leasing data. Users can conduct in-depth market research by analyzing data on property sales, leasing activity, and market trends, helping them understand market dynamics and identify investment opportunities.Predictive Analytics
The platform’s machine learning models can predict property values, forecast market trends, and identify potential off-market deals. This predictive capability is particularly valuable in a competitive and fast-paced environment where swift and informed decision-making is critical.Interactive Mapping Tools
Reonomy offers visual representation tools such as heat maps and geographic mapping, which help users visualize data and generate reports. This visual representation can be particularly useful for identifying trends and making data-driven decisions.Custom Data and Analytics Services
In addition to its standard features, Reonomy provides customized data and analytics solutions to meet the specific needs of individual clients and partners. This includes custom analytics and data integrations that can be tailored to the unique requirements of different users in the real estate industry.Subscription Models and Integrations
Reonomy generates revenue through subscription-based plans and offers additional services such as custom analytics and data integrations. The platform integrates with various third-party tools and data providers, enhancing its offerings and reach.User-Friendly Interface
The Reonomy web application is designed to be user-friendly, making it easy for users to access and analyze property data, ownership records, transaction history, and market trends. The intuitive interface allows users to quickly find the information they need and generate reports efficiently.Conclusion
In summary, Reonomy’s integration of AI and machine learning transforms the way commercial real estate professionals access and utilize data, enabling them to make smarter, faster, and more informed decisions. The platform’s comprehensive data coverage, advanced search capabilities, predictive analytics, and user-friendly interface make it a valuable resource for brokers, investors, lenders, and developers. Reonomy - Performance and Accuracy
Evaluating the Performance and Accuracy of Reonomy
Performance
Reonomy’s performance is largely driven by its advanced AI and machine learning algorithms. Here are some key points:- Data Aggregation and Analysis: Reonomy aggregates vast amounts of data from various sources, including public records, proprietary databases, and third-party providers. This data is then analyzed using AI to provide actionable insights, such as property details, ownership information, transaction history, and market trends.
- User-Friendly Interface: The platform is praised for its intuitive and user-friendly interface, making it easy for users to conduct searches, generate reports, and access relevant information quickly.
- Customization and Filtering: Reonomy offers over 200 search filters, allowing users to customize their queries to specific criteria, which enhances productivity and the ability to find precise information.
Accuracy
While Reonomy strives for high data accuracy, there are some limitations:- Data Accuracy: Reonomy aims for about 80% accuracy in its data, which is a notable benchmark but not perfect. The accuracy can be particularly lower for smaller properties and markets, especially regarding ownership data. This is because the platform relies on AI to pull data without human researchers to confirm accuracy.
- Contact Information: Some users have reported issues with the accuracy of contact information for property owners, such as emails bouncing or difficulties in making contact.
- Market Insights: There have been observations that the market insights provided by Reonomy can sometimes be stale, indicating that the data may not always be up-to-date.
Areas for Improvement
- Data Reliability: Ensuring the accuracy and reliability of the data is a continuous challenge for Reonomy. While AI algorithms are advanced, they are not foolproof, and human verification could enhance accuracy, especially for critical data points like ownership and contact information.
- Comprehensive Coverage: Compared to competitors like CRED iQ, Reonomy’s coverage of property data is more limited. Expanding the scope of data coverage could make the platform more comprehensive and valuable to users.
- Lease Comps: Reonomy currently does not provide lease comps, which is a significant gap for users who need this information for their business decisions. Adding lease comp data could enhance the platform’s utility.
Conclusion
Reonomy is a powerful tool for commercial real estate professionals, offering extensive data analysis and insights through its AI-powered engine. However, it faces challenges related to data accuracy, particularly in smaller markets and with contact information. Addressing these areas could further enhance the platform’s performance and user satisfaction. Despite these limitations, Reonomy remains a valuable resource for those seeking to streamline their research and identify new business opportunities in the commercial real estate sector. Reonomy - Pricing and Plans
Pricing Overview
Reonomy’s pricing is not fully transparent on their website, but here are the details that can be gathered:
- The standard pricing for Reonomy is $4,800 per year per user or $400 per month per user. Discounts are available if the subscription is paid in full upfront.
Subscription Plans
While the exact tiers and their specific features are not explicitly listed on the website, here is what is known:
- Standard Plan: This plan costs $4,800 per year or $400 per month per user. It includes access to all geographies and property types across all 50 states, over 200 filter options for property searches, map-based searches, owner information, and the ability to export search results to Excel.
Additional Features and Add-ons
- Advanced Features: Additional packages may include features such as advanced filters and tenant details, but the pricing for these is not clearly specified and requires contacting Reonomy’s sales team.
- Reonomy API and Bulk Data Feed: These are add-on options that provide immediate access to Reonomy data via API or bulk data feeds, but their pricing is not detailed publicly.
Free Trial
Reonomy offers a 7-day free trial that provides full access to all the features available to paying subscribers. This trial can be initiated directly from the Reonomy website, and no payment information is required to start the trial.
Custom Pricing
For more specific pricing tailored to an organization’s needs, potential users must contact Reonomy directly via email or phone.
Summary
In summary, while the detailed breakdown of different tiers is not publicly available, the standard pricing and the option for a free trial are clear. For more detailed pricing information, users need to contact Reonomy’s sales team.
Reonomy - Integration and Compatibility
Reonomy Integration Options
Reonomy, a leading commercial real estate technology and data solutions provider, offers several integration options to ensure compatibility and seamless use across various platforms and devices.Integration with Salesforce
One of the key integrations Reonomy offers is with Salesforce. Through this integration, facilitated by partners like Silverline, you can combine your property research with your prospecting and sales operations on a single platform. This allows you to easily populate and report on relevant data for leads, bringing market intelligence into your business development campaigns, marketing automation journeys, and other outreach programs. The integration uses Lightning Page Components to view Reonomy data on Account records and schedule batch jobs within Salesforce to update data regularly.API Integration
Reonomy provides an API that enables the integration of its commercial real estate intelligence into your internal systems and applications. This API offers fast access to Reonomy’s property search engine and data delivery engine, allowing you to power your applications and workflows with live Reonomy data. This is particularly useful for enterprise customers who need to integrate large datasets into their existing systems.Bulk Data Feeds
For customers requiring bulk property and owner data, Reonomy offers bulk data feeds. These feeds allow you to ingest large amounts of data (typically over 25,000 records) into your systems for offline use. The data pipeline runs weekly, ensuring you have the most recent property data available on a scheduled cadence that suits your needs.Compatibility Across Devices
The Reonomy web app is designed to be accessible across various devices, including desktops, laptops, and mobile devices. This ensures that commercial real estate professionals can access property, market, transaction, and owner data from anywhere, using any device with an internet connection.Industry-Specific Solutions
Reonomy’s solutions are tailored for professionals working in the commercial real estate ecosystem, including appraisers, brokers, investors, lenders, insurance companies, and more. The platform’s compatibility extends to various industry-specific workflows, making it a versatile tool for different roles within the CRE sector.Conclusion
In summary, Reonomy integrates seamlessly with platforms like Salesforce, offers API and bulk data feed options for enterprise integration, and is accessible across a range of devices. This ensures that users can leverage Reonomy’s comprehensive commercial real estate data and intelligence in a way that fits their specific needs and workflows. Reonomy - Customer Support and Resources
Customer Support Options
Contact Information
- For immediate assistance, users can contact Reonomy’s customer service team via phone at (646) 882-6260.
- Additionally, users can reach out through email for both customer service and general inquiries.
- Reonomy also has a physical presence with offices in New York, providing an option for in-person support if needed.
Additional Resources
Reonomy Help Center
- Reonomy Help Center: While the specific details of the help center are not outlined in the sources, it is likely that Reonomy provides a comprehensive help center with FAQs, guides, and troubleshooting tips to assist users in resolving common issues.
- Website and Documentation: The Reonomy website offers detailed information about their product, including key features, data coverage, and how the platform works. This includes explanations of their machine learning algorithms, data sources, and the benefits of using their platform.
- Free Trial: Reonomy offers a free trial of their web application, allowing users to test the capabilities of the platform before committing to a subscription. This trial period includes access to the full range of features, enabling users to evaluate the product thoroughly.
- Subscription and Pricing Information: Users can contact the sales team to discuss subscription pricing options and find the best plan for their business needs.
Support for Specific Needs
- Reonomy’s platform is built for various professionals in the commercial real estate ecosystem, including appraisers, brokers, lenders, investors, and service providers. The platform provides detailed data on property owners, property records, sales and debt information, and market demographic data, which can be accessed and utilized through advanced property search filters.
By leveraging these support options and resources, users of Reonomy’s AI-driven product can ensure they are making the most of the platform’s capabilities and resolving any issues efficiently.
Reonomy - Pros and Cons
Advantages of Reonomy
Reonomy offers several significant advantages that make it a valuable tool for commercial real estate professionals:
User-Friendly Interface
The platform is known for its easy-to-use interface, making it simple for new users to learn and navigate. The search function is intuitive, with multiple options to filter properties by address, submarket, owner name, property type, and more.
Comprehensive Data Coverage
Reonomy provides access to a vast database of over 52 million commercial real estate properties, including detailed information such as ownership details, transaction history, building characteristics, and market trends.
Advanced Search Capabilities
Users can filter properties using over 200 search filters and utilize interactive mapping tools, including zoom, radius, and polygon tools, to search for properties in specific areas.
Predictive Analytics
The AI-powered engine can predict properties likely to sell, helping users identify potential investment opportunities and assess risks. It also provides personalized recommendations based on user interactions and feedback.
Ownership Data
Reonomy’s ability to pierce through LLC layers to find the true owner and connect related LLCs with the same owner is a significant value-add for business development.
Customer Support
The platform is praised for its good customer service, available via phone, email, and live chat. Users also appreciate the training materials and support network.
Disadvantages of Reonomy
Despite its many advantages, Reonomy also has some notable disadvantages:
Data Accuracy
One of the main concerns is the accuracy of the data. Since Reonomy relies on AI to pull data without human verification, there can be inaccuracies, particularly for smaller properties and markets. The platform aims for about 80% accuracy in its data.
Limited Comparative Data
Reonomy provides sales comps but lacks lease comps, and the accuracy of the sales comp data can be questionable.
Pricing Transparency
The pricing for Reonomy is not transparent and is not readily available on the website. Users need to go through a free trial to access pricing information.
No Mobile App
Reonomy does not offer a mobile app, which can be a drawback for users who prefer mobile access.
Integration Issues
Some users have reported issues with integrating Reonomy with other programs, although workarounds exist.
Cost
The costs can add up, especially for teams, making it potentially less affordable for some users.
By weighing these pros and cons, users can make an informed decision about whether Reonomy aligns with their needs and budget in the commercial real estate sector.
Reonomy - Comparison with Competitors
When Comparing Reonomy to Its Competitors
In the commercial real estate data and analytics sector, several key points and unique features stand out.
Unique Features of Reonomy
- Advanced AI Technology: Reonomy leverages AI-powered platforms to analyze vast amounts of data, providing valuable insights and accurate information. This includes the use of machine learning and natural language processing to extract insights from complex real estate data.
- Comprehensive Data Coverage: Reonomy offers a wide range of data points, including property details, ownership information, transaction history, and market trends. This comprehensive coverage allows users to gain a holistic view of the commercial real estate market.
- Data Accuracy and Reliability: Reonomy focuses on ensuring data accuracy and reliability through its AI algorithms, making it a trusted source for critical business decisions.
- User-Friendly Interface: Despite its sophisticated technology, Reonomy’s platform is intuitive and easy to use, allowing users to conduct searches and generate reports efficiently.
- Integration Capabilities: The platform is designed to integrate seamlessly with other tools and systems used in the commercial real estate industry, enhancing workflow efficiency.
Competitors and Alternatives
CoStar Group
CoStar Group is a well-established provider of commercial real estate information and analytics. It offers a comprehensive suite of services, including property data, analytics, and market insights, similar to Reonomy but with a broader range of services.
CompStak
CompStak focuses on crowdsourcing lease comps and property information, offering a unique approach to data gathering. This crowdsourced model can provide more granular and up-to-date information on specific properties and leases.
Real Capital Analytics
Real Capital Analytics is a leading provider of commercial real estate data and analytics, offering detailed information on property transactions, market trends, and investment opportunities. It caters to the needs of investors and industry professionals.
CREXi
CREXi is a platform that facilitates commercial real estate transactions by connecting buyers, sellers, and brokers. It offers a marketplace for properties and tools for due diligence and deal management, which is different from Reonomy’s data-focused approach.
Cherre
Cherre focuses on real estate data management and intelligence, providing a platform that integrates data from various sources to offer comprehensive insights. This integration capability is similar to Reonomy’s but may have different data sources and analytical tools.
Cadre
Cadre operates as a real estate investment platform, offering predictive models and workflow tools to help users invest in a diversified portfolio of properties. While it provides investment-focused tools, it does not offer the same breadth of data analytics as Reonomy.
AlphaFlow
AlphaFlow is another competitor that provides real estate investment solutions, but it is more focused on investment management and less on the broad data analytics provided by Reonomy.
Other Alternatives
Other alternatives to Reonomy include:
- BatchService: Offers unparalleled property data and accurate owner contact information through a single API.
- Success.ai: Provides verified, AI-enhanced data including LinkedIn profiles, buyer intent data, and professional profiles.
- McGRAW: Specializes in B2B and B2C solutions, offering custom-built and expansive data sets for email, postal, and other contact information.
- Factori: Focuses on real-world location data to help users make smarter decisions and build better solutions.
Each of these competitors and alternatives offers unique features and approaches to commercial real estate data and analytics, allowing users to choose the platform that best fits their specific needs and requirements.
Reonomy - Frequently Asked Questions
Here are some frequently asked questions about Reonomy, along with detailed responses:
What is Reonomy and what does it offer?
Reonomy is a commercial real estate data platform that provides comprehensive property information, market trends, and ownership data. It uses AI and machine learning to analyze vast amounts of data from various sources, including public records, proprietary sources, and user-generated content. This allows users to access detailed property insights, transaction history, building characteristics, and market trends.
How much does Reonomy cost?
The pricing for Reonomy varies. An individual account can cost $49 per month, but prices for team and enterprise packages are negotiable and require direct contact with Reonomy. There is also a standard pricing plan of $4,800 per year or $400 per month per user, with discounts available if paid in full upfront.
Is there a free trial available for Reonomy?
Yes, Reonomy offers a 7-day free trial that gives access to 100% of the features available to paying subscribers. This trial does not require payment information to start.
What are the key features of Reonomy?
Reonomy’s key features include:
- Property Search by Filters: Users can filter properties by over 200 options such as property name, asset type, address, and more.
- Property Search by Map: Users can search directly on the map using zoom, radius, and polygon tools.
- Owner Information: Detailed ownership data and the ability to create lists for tracking and following up on leads.
- Predictive Analytics: The platform can show properties likely to sell based on various criteria.
- Interactive Mapping: Users can zoom into specific areas or draw boundaries for the search area.
- AI-Powered Data Analysis: Reonomy uses AI and machine learning to analyze and organize large datasets.
How does Reonomy collect and update its data?
Reonomy aggregates data from various sources, including public records, proprietary sources, geospatial providers, secretaries of state, census data, and over 3,000 county assessors. The data is cleansed, structured, and updated weekly to ensure users have the most recent property data available.
Does Reonomy offer any custom data and analytics services?
Yes, Reonomy provides customized data and analytics solutions to meet the specific needs of individual clients and partners. These services include custom analytics, data integrations, and bulk data delivery for enterprise customers.
Is Reonomy available on mobile devices?
Currently, there is no mobile app for Reonomy, so users cannot conduct research on the go using a mobile device.
How user-friendly is the Reonomy interface?
The Reonomy web application is user-friendly and easy to navigate. The search function is intuitive, with multiple options to filter and search properties. Learning the web application requires very little training.
What kind of support does Reonomy offer?
Reonomy provides customer support, but specific details about the support channels and services are not widely available online. Users can contact Reonomy directly for more information on pricing and support.
Who are some of the competitors of Reonomy?
Some of Reonomy’s competitors in the commercial real estate data and analytics space include CoStar, Trepp, and CRED iQ.