Reonomy - Detailed Review
Real Estate Tools
Reonomy - Product Overview
Overview
Reonomy is an AI-powered data platform specifically crafted for the commercial real estate (CRE) industry. Here’s a brief overview of its primary function, target audience, and key features:
Primary Function
Reonomy’s primary function is to provide comprehensive property information and market insights to commercial real estate professionals. It aggregates and analyzes vast amounts of data from various sources, including public records, proprietary databases, and third-party providers. This data is then organized and presented in a user-friendly interface, enabling users to make informed decisions quickly and confidently.
Target Audience
Reonomy’s target audience includes a wide range of professionals in the commercial real estate sector. This includes real estate investors, developers, brokers, lenders, and service providers. The platform is designed to meet the specific needs of these users, whether they are individual investors or large corporations.
Key Features
Comprehensive Data Coverage
Reonomy offers access to a vast database of commercial real estate information, including property details, ownership history, transaction records, and market trends. It covers over 54 million commercial properties, 68 million property transactions, and data on 5.2 million companies and 30 million owners and contact records.
AI-Powered Data Analysis
The platform uses artificial intelligence and machine learning algorithms to analyze and organize the data, providing valuable insights such as property valuations, market research, and lead generation. These algorithms continuously learn and improve based on user interactions and feedback.
Interactive Mapping and Search Tools
Reonomy features advanced property search capabilities with over 200 filters, allowing users to pinpoint specific commercial properties, compare properties, and find owner and contact information. The platform also includes interactive mapping tools to visualize property data.
Customizable Solutions
Reonomy offers customized data and analytics services to meet the specific needs of individual clients and partners. It also integrates with third-party tools and data providers, such as CoreLogic, BlackKnight, and Dun & Bradstreet, to enhance its offerings.
Predictive Analytics
The platform leverages predictive analytics to help users identify future opportunities, such as predicting which properties are likely to sell next or determining if a property needs repairs. This is achieved through its proprietary algorithms trained on billions of unique data points.
Conclusion
Overall, Reonomy is a powerful tool that revolutionizes how commercial real estate professionals access and utilize data, enabling them to make smarter, data-driven decisions.
Reonomy - User Interface and Experience
The User Interface of Reonomy
The user interface of Reonomy, an AI-driven commercial real estate data platform, is designed to be intuitive and user-friendly, making it accessible to a wide range of professionals in the real estate industry.
Ease of Use
Reonomy’s interface is praised for its ease of use. Users have reported that the platform is easy to learn and use, even for those who may not be highly tech-savvy. The interface is straightforward, allowing users to quickly find the information they need without a steep learning curve.
Key Features and Functionality
The platform offers several features that enhance the user experience:
- Comprehensive Search Options: Users can filter results using a variety of criteria such as property details, ownership information, sales history, and more. This makes it easy to find specific properties or analyze market trends.
- Interactive Mapping Tools: Reonomy includes interactive mapping tools that help users visualize property locations and market trends, making spatial analysis more efficient.
- Data Visualization: The platform presents data in a clear and organized manner, using visual aids to help users quickly grasp complex information such as ownership portfolios, asset mix, and market trends.
User Experience
The overall user experience with Reonomy is generally positive. Users appreciate the extensive database and the multiple filtering options that allow for detailed searches. The web app is accessible from any device, providing flexibility and convenience.
Customer Support
Reonomy is also commended for its responsive customer support. Users have noted that the support team is very helpful and that the developers are continually working to improve the software based on user feedback.
Areas for Improvement
While the user interface is generally well-regarded, some users have noted a few areas for improvement. These include occasional gaps in data coverage, inaccuracies in some property and ownership data, and the lack of certain features such as team collaboration tools and integration with some CRM systems.
Conclusion
In summary, Reonomy’s user interface is designed to be user-friendly, with a focus on providing easy access to comprehensive property information and market insights. While it excels in many areas, there are some minor issues that users have highlighted, which the company is working to address.
Reonomy - Key Features and Functionality
Reonomy Overview
Reonomy is a sophisticated AI-driven platform that revolutionizes the way commercial real estate (CRE) professionals access and utilize property data. Here are the main features and functionalities of Reonomy, along with how each works and its benefits:Comprehensive Data Coverage
Reonomy aggregates data from a vast array of sources, including public records, proprietary databases, and third-party providers like CoreLogic, BlackKnight, and Dun & Bradstreet. This includes data on over 54 million commercial properties, 68 million property transactions, 5.2 million companies, and 30 million owners and contact records.Reonomy ID
The platform uses a unique identifier called the Reonomy ID to standardize and connect disparate data records. This ID maps all property records to a single, clear identifier, ensuring that users can access accurate and up-to-date information across different sources.AI-Powered Data Analysis
Reonomy’s AI engine analyzes vast amounts of data to provide actionable insights. It uses machine learning algorithms to process data from various sources, extract relevant information, and generate predictive analytics. This includes predicting which properties are likely to sell next, identifying market trends, and assessing property values based on comparable sales and other factors.Predictive Analytics
The platform’s predictive analytics feature assigns a “likely to sell” score to properties based on historical transactions, current property data, and market-level trends. This helps users identify and prioritize market opportunities, saving time and effort in research.Advanced Property Search
Reonomy offers an advanced property search feature with over 200 filters, allowing users to pinpoint specific commercial properties, compare properties (comps), and find owner and contact information across the United States. This feature is particularly useful for brokers, investors, and lenders looking to find off-market opportunities or potential listing opportunities.Ownership Data Tree
The platform’s ownership data tree feature helps users pierce through LLC layers to identify the true owners of CRE properties. It connects related LLCs with the same owner, providing a clear view of ownership portfolios, including asset mix, location, debt, and tenant mix.Market and Demographic Data
Reonomy provides access to demographic and market data, enabling users to conduct in-depth market research. This includes analyzing property sales, leasing activity, and market trends to understand market dynamics and identify investment opportunities.Custom Data and Analytics Services
Users can integrate Reonomy data into their internal systems via APIs or bulk data feeds. This allows for customized data solutions, such as adding Reonomy data to a company’s CRM or receiving real-time updates. Custom analytics services are also available to meet the specific needs of individual clients and partners.Interactive Mapping Tools
The platform includes interactive mapping tools that help users visualize property data and market trends geographically. This visual representation aids in identifying patterns and opportunities that might be harder to spot through raw data alone.Data Feeds and APIs
Reonomy offers data feeds and APIs that allow users to integrate live data into their applications and workflows. This ensures that users have access to the most recent property data, which can be scheduled for delivery on a weekly or other preferred cadence.User Interface and Experience
The Reonomy web application is designed to be user-friendly, with an intuitive interface that makes it easy for users to find the information they need quickly and efficiently. The platform supports various types of users, including brokers, investors, lenders, and developers, by providing features and functionalities tailored to their specific needs.Conclusion
In summary, Reonomy’s integration of AI and machine learning transforms the way CRE professionals access and utilize property data, enabling them to make informed decisions, identify new opportunities, and streamline their research processes. Reonomy - Performance and Accuracy
Evaluating the Performance and Accuracy of Reonomy
Performance
Reonomy’s performance is bolstered by its advanced AI technology and comprehensive data coverage. Here are some highlights:Advanced AI Technology
Reonomy leverages AI and machine learning algorithms to analyze vast amounts of data, providing users with actionable insights and predictive analytics. This technology enables the platform to process large datasets quickly and accurately, helping users identify opportunities, assess risks, and optimize their strategies.Comprehensive Data Coverage
The platform covers over 50 million commercial properties across the United States, including detailed property information, ownership details, transaction history, and market trends. This extensive data set allows users to gain a holistic view of the commercial real estate market.User-Friendly Interface
Reonomy’s platform is intuitive and easy to use, with dynamic mapping functions and customizable filters that facilitate targeted searches. Users can easily navigate the platform, conduct searches, and generate reports with minimal effort.Integration Capabilities
Reonomy integrates seamlessly with other tools and systems used in the commercial real estate industry, enhancing workflow efficiency and maximizing the value derived from its data platform.Accuracy
Reonomy places a strong emphasis on data accuracy and reliability:Data Accuracy and Reliability
The platform uses AI algorithms and machine learning techniques to ensure data accuracy and completeness. This focus on reliability provides users with high-quality data they can trust for critical business decisions.Data Collection and Analysis
Reonomy aggregates data from various sources, including public records, proprietary databases, and third-party providers. The data is then cleaned, structured, and analyzed to provide accurate and up-to-date information.Limitations and Areas for Improvement
Despite its strengths, there are some limitations and areas where Reonomy could improve:Data Accuracy Inconsistencies
There have been reports of occasional accuracy inconsistencies, particularly with stale data. This can affect the reliability of some insights, although the platform continuously updates and improves its data sets.Limited Comp Data
Some users have noted that the platform has limited comparative data (comps) overall, which can be a drawback for certain types of analysis.Customer Support
While Reonomy offers a Help Center with training guides and FAQs, accessing live customer support may require a few steps, and response times can be up to 2 hours. However, paid subscribers do receive a dedicated customer success representative.Customization and Flexibility
While Reonomy offers customizable search options and filters, some users might find that the platform could benefit from even more flexible and granular search capabilities to meet highly specific needs. In summary, Reonomy’s performance is strong due to its advanced AI technology, comprehensive data coverage, and user-friendly interface. However, it faces some challenges related to data accuracy inconsistencies and limited comparative data. Addressing these areas could further enhance the platform’s value for commercial real estate professionals. Reonomy - Pricing and Plans
Subscription Models
Reonomy operates on a subscription-based model, where users pay a fee to access the platform and its features. Here are the details on the pricing and plans:Standard Pricing
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.Plan Features
While the exact tiers (e.g., basic, standard, premium) and their specific features are not fully detailed in the public sources, here is what is known:Standard Plan
This plan provides access to all geographies and property types across all 50 states. It includes features such as dynamic mapping, multiple list types for tracking and following up on leads, intuitive search functions with various filters, and the ability to export search results to Excel. The plan also includes ownership data trees that help identify true owners behind LLCs.Additional Features
Reonomy offers advanced analytics, custom reports, and personalized support, particularly for users with complex data needs. These features are likely part of higher-tier plans or add-ons, but the exact breakdown is not publicly available.Free Trial
Reonomy offers a 7-day free trial that provides 100% access to the features available to paying subscribers. This trial allows users to test the platform’s capabilities before committing to a subscription. To start the free trial, users need to sign up on the Reonomy website and verify their account.Custom and Enterprise Plans
For enterprise and team packages, the pricing is negotiable and requires direct contact with Reonomy’s sales team. These plans can be customized to meet the specific needs of larger organizations or teams.Additional Services
Reonomy also provides custom data and analytics services, API access, and bulk data feeds as add-ons. These services can be integrated into users’ existing systems for offline use or to power their applications and workflows. In summary, while the detailed tier structure and specific feature sets for each plan are not fully transparent, Reonomy’s standard pricing is clear, and users can explore the full range of features through the free trial before deciding on a subscription. For more specific pricing and plan details, users need to contact Reonomy’s sales team directly. Reonomy - Integration and Compatibility
Integration Options
Reonomy, a leading commercial real estate technology and data solutions provider, offers several integration options and ensures compatibility across various platforms and devices to cater to the diverse needs of its users.API Integration
Reonomy provides an API that allows users to integrate live Reonomy data directly into their internal systems and applications. This API delivers commercial real estate intelligence, enabling fast access to property search engines and data delivery engines. This integration is particularly useful for enterprise customers who need to power their applications and workflows with real-time data updates.Bulk Data Feeds
For customers requiring large datasets, Reonomy offers bulk data feeds. These feeds allow users to ingest Reonomy data in bulk (typically more than 25,000 records) into their systems for offline use. The data pipeline runs weekly, ensuring that the most recent property data is always available, and the delivery cadence can be customized to suit the user’s needs.Web Application
The Reonomy web app is accessible across various devices with internet capabilities, making it compatible with desktops, laptops, and mobile devices. This web app provides comprehensive property, market, transaction, and owner data, all of which can be accessed through a user-friendly interface. The app includes advanced property search features with over 200 filters, enabling users to pinpoint specific commercial properties and their associated data.Data Partnerships and Integrations
Reonomy has exclusive partnerships with major data providers such as CoreLogic, BlackKnight, and Dun & Bradstreet. Additionally, it has direct integrations with all 3,100 local county assessors, Secretaries of States, and census data. These partnerships ensure that the data provided is reliable, accurate, and comprehensive, further enhancing the compatibility and usefulness of the platform.Machine Learning and Data Analytics
Reonomy’s use of machine learning algorithms helps in resolving disparate records and mapping them to a unique Reonomy ID. This ensures that the data is consistent and easily accessible across different platforms, making it easier for users to integrate and analyze the data within their existing systems.Conclusion
In summary, Reonomy’s integration capabilities are designed to be flexible and compatible with a wide range of systems and devices, making it a versatile tool for commercial real estate professionals. Whether through API integration, bulk data feeds, or the web application, Reonomy ensures seamless access to comprehensive commercial real estate data. Reonomy - Customer Support and Resources
Customer Support
- Reonomy provides a comprehensive Help Center on their website, which includes training guides, FAQs, and best practices. This is the first point of contact for users with questions.
- If the Help Center does not address the issue, users can interact with a chatbot located in the lower right-hand corner of the site. Response times for these inquiries are typically within 2 hours.
- For more direct assistance, users can email support@reonomy.com, which will connect them with an employee at Altus Group, Reonomy’s parent company, who will then direct the user to a Reonomy team member.
- Once a user becomes a paying subscriber, they are assigned a dedicated customer success representative who serves as their main point of contact for any questions or issues.
Additional Resources
- Free Trial and Onboarding: Reonomy offers a 7-day free trial, allowing potential users to test the capabilities of the web app. After signing up, users receive an email link to verify their account and activate the trial.
- Web Application and API: In addition to the web app, Reonomy provides API access and bulk data feeds, which allow users to integrate Reonomy data into their internal systems for customized use.
- Data Coverage and Partnerships: Reonomy’s data network includes exclusive partnerships with CoreLogic, BlackKnight, and Dun & Bradstreet, as well as direct integrations with all 3,100 local county assessors, secretaries of state, and census data. This ensures reliable and accurate data coverage.
- Training and Guides: The platform includes various training materials and guides to help users get started and make the most out of the available features and data.
Data and Market Insights
- Reonomy’s platform provides comprehensive property, market, transaction, and owner data, including detailed property specifics, transaction history, occupant data, and ownership portfolios. This data is updated weekly, allowing users to save and rerun searches to see new data.
By offering these support options and resources, Reonomy ensures that its users can efficiently leverage the platform’s extensive data and features to identify off-market opportunities, close deals, and make informed business decisions.
Reonomy - Pros and Cons
Advantages of Reonomy
User-Friendly Interface
Reonomy is praised for its easy-to-use interface, making it accessible and intuitive for commercial real estate (CRE) professionals. The web application is user-friendly and easy to navigate, even for new users.
Comprehensive Data
Reonomy aggregates data from multiple sources, including geospatial providers, secretaries of state, census data, and over 3,000 county assessors. This extensive database covers over 50 million commercial real estate properties, providing up to 100 data points per property, such as tax history, opportunity zone status, and renovation details.
Predictive Analytics
The platform uses AI and machine learning to predict deals and identify potential investment opportunities. It can show properties that are likely to sell or be refinanced, which is particularly useful for investors and brokers.
Ownership Data
Reonomy’s people resolution algorithm helps identify the true owners of CRE properties, even through complex LLC structures. This feature is invaluable for connecting with property owners directly.
Integration Capabilities
The platform can integrate with CRM systems, allowing users to access and manage data seamlessly within their existing workflows. It also offers API access and customized data feeds for real-time updates.
Customer Support
Users have reported positive experiences with Reonomy’s customer support, which is available via phone, email, and live chat. The platform also scores well in terms of ease of use and customer service.
Disadvantages of Reonomy
Data Accuracy
One of the significant drawbacks is the accuracy of the data. While Reonomy aims for about 80% accuracy, users have reported issues with inaccurate contact information, especially for smaller properties and markets. This can lead to difficulties in making offers and closing deals.
Limited Comparative Data
Reonomy lacks lease comps and has limited sales comp data, which may not always be accurate. This limitation can hinder comprehensive market and submarket research.
Pricing Transparency
The pricing for Reonomy is not transparent, and users must go through a free trial or contact customer support to get detailed pricing information. This lack of transparency can make it difficult to compare with other products.
Geographical Coverage
Reonomy focuses more on larger cities and lacks information on more rural listings. This limited geographical coverage can be a disadvantage for users interested in broader market research.
No Mobile App
Reonomy does not have a mobile app, which can be inconvenient for users who prefer to access the platform on their mobile devices.
Functionality Gaps
Some users have reported functionality gaps, such as difficulties with note organization and export functions within the software. This can make it necessary to use additional tools for note management.
In summary, Reonomy is a valuable tool for CRE professionals due to its comprehensive data, predictive analytics, and ease of use. However, it faces challenges related to data accuracy, pricing transparency, and geographical coverage.
Reonomy - Comparison with Competitors
When comparing Reonomy to other AI-driven real estate tools, several key features and differences stand out.
Reonomy’s Unique Features
- Comprehensive Property Information: Reonomy provides detailed property data, including ownership details, transaction history, building characteristics, and market trends. This data is aggregated from public records, proprietary databases, and third-party providers, making it a one-stop solution for commercial real estate professionals.
- AI-Powered Engine: Reonomy’s platform leverages artificial intelligence and machine learning to analyze vast amounts of data, extract valuable insights, and provide predictive analytics. This helps users identify opportunities, assess risks, and optimize their strategies.
- Custom Data and Analytics Services: Reonomy offers customized data and analytics solutions to meet the specific needs of individual clients and partners. This includes property valuation, market research, and lead generation based on detailed ownership data and market trends.
Competitors and Alternatives
Cherre
- Cherre focuses on real estate data management and integration. While it also aggregates data from multiple sources, its primary emphasis is on data management rather than the broad range of analytical and predictive tools offered by Reonomy.
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. Unlike Reonomy, Cadre is more focused on investment management and portfolio diversification rather than providing a comprehensive data platform for various real estate professionals.
AlphaFlow
- AlphaFlow is another real estate investment platform that provides tools for investing in real estate debt. It democratizes access to real estate investments but does not offer the same level of detailed property data and analytical tools as Reonomy.
PeerStreet
- PeerStreet offers an investment platform focused on real estate debt, allowing users to invest in loans secured by real estate. While it provides investment opportunities, it lacks the extensive property data and AI-driven insights that Reonomy offers.
Deal Machine’s Alma
- Deal Machine’s Alma is an AI-powered real estate investment tool that helps agents and investors identify potential off-market properties and analyze investment opportunities. While it shares some similarities with Reonomy in terms of property identification and analysis, it is more focused on residential and off-market properties rather than the comprehensive commercial real estate data provided by Reonomy.
Key Differences
- Scope of Data: Reonomy stands out for its comprehensive coverage of commercial real estate data, including detailed property information, ownership details, and market trends. Competitors like Cherre and Cadre may offer more specialized services, such as data management or investment portfolio management, but lack the breadth of data and analytical capabilities of Reonomy.
- User Base: Reonomy caters to a wide range of users, including brokers, investors, lenders, and developers, by providing tools that meet their specific needs. In contrast, platforms like Cadre and AlphaFlow are more focused on investors and portfolio management.
- AI and Analytics: Reonomy’s use of AI and machine learning to analyze and interpret large datasets sets it apart from competitors. This capability allows for predictive analytics, property valuation, and lead generation, which are not as prominently featured in other platforms.
In summary, while Reonomy has several competitors in the real estate AI tools category, its comprehensive data coverage, AI-powered engine, and customized analytics services make it a unique and valuable resource for commercial real estate professionals.
Reonomy - Frequently Asked Questions
Frequently Asked Questions about Reonomy
What is Reonomy?
Reonomy is a leading commercial real estate technology and data solutions provider. It uses proprietary machine learning algorithms and AI capabilities to provide deeper property intelligence for developers, investors, brokers, and other professionals in the commercial real estate ecosystem.
Who is Reonomy for?
Reonomy is designed for professionals working in the commercial real estate ecosystem, including appraisers, brokers, construction and repair companies, energy firms, lenders, insurance companies, investors, service providers, and tax professionals.
How much does Reonomy cost?
Reonomy offers several subscription plans, with pricing varying based on the features your business needs. Individual accounts may start at $49 per month, while team and enterprise packages are negotiable and typically require a yearly contract, with some reports indicating a starting price of $299 per month. It is best to contact the sales team for specific pricing details.
Is there a free trial available for Reonomy?
Yes, Reonomy offers a free trial of their web application. Once you provide your details, you will receive an email link to verify your account, and your free trial will begin. The free trial allows you to test the capabilities of the application before deciding on a subscription.
What happens after the free trial period ends?
If you are satisfied with the service after the free trial, you can discuss subscription pricing options with the sales team to extend your license. If you decide not to continue, your account will be closed.
What kind of data does Reonomy provide?
Reonomy provides comprehensive data on commercial properties, including property details, transaction history, occupant data, ownership data, and ownership portfolios. The platform covers over 54 million commercial properties, 68 million property transactions, 5.2 million companies, and 30 million owners and contact records across the United States.
How does Reonomy connect and integrate data?
Reonomy uses machine learning algorithms to connect data from various public and private sources, including partnerships with CoreLogic, BlackKnight, and Dun & Bradstreet, as well as direct integrations with local county assessors, Secretary of States, and census data. This data is mapped to a unique Reonomy ID, which helps in resolving disparate records and providing a unified view of the data.
Can I integrate Reonomy data into my internal systems?
Yes, Reonomy offers APIs and data feeds that allow you to integrate their commercial real estate intelligence into your applications and workflows. This includes live data integration and bulk data delivery options, which are particularly useful for enterprise customers.
What are the key features of the Reonomy web application?
Key features include comprehensive property, market, transaction, and owner data; advanced property search with over 200 filters; access to demographic and market data; and the ability to identify true owners and uncover ownership portfolios. The platform also provides predictive analytics and insights into property history and potential opportunities.
Does Reonomy have any exclusive data partnerships?
Yes, Reonomy has exclusive partnerships with industry-leading data providers, including CoreLogic, BlackKnight, and Dun & Bradstreet. It also integrates data from all 3,100 local county assessors, Secretary of States, and census data, providing a comprehensive and reliable data network.
How does Reonomy help in finding true commercial property owners?
Reonomy uses its people resolution algorithm to scan billions of records and connect them to the true owners of commercial real estate properties. This helps in identifying the actual owners behind various entities and assets.