The National Association of Realtors has launched a new Web site focused on commercial real estate, which includes a commercial property listing database that offers access to commercial property listings from all 50 states. The new site will reside at www.commercialsource.com, previously the site for the Realtors Commercial Alliance’s online convention.
"Realtors are industry innovators, and this new site creates an online marketplace for investors and consumers to view land and commercial properties for sale and lease," said Jan Hope, vice president of the Realtors Commercial Alliance, NAR’s commercial real estate division. "The site is a virtual landscape that includes a national commercial real estate property listing database, an online convention and trade show, industry news and events, research data, and feature articles. We expect this site to be a valuable and competitive resource, one that will provide commercial brokers with a high-quality toolkit to assist them in their business success."
Commercial information exchanges (CIEs), multiple listing services and practitioners may upload basic listings at no cost. More comprehensive listing information can be added at a nominal pricing. Individual practitioners will be encouraged to upload their listings through their local CIE if they are within an existing CIE market area.
EProperty Data will operate and provide technological support for the Web site. NAR recently acquired eProperty Data, of Gig Harbor, Wash., which provides commercial information exchange services and solutions to the commercial real estate industry. The company operates some of the largest CIEs in the country, including Commercial MLS.com in Seattle and CommercialGateway.com, operated for the Houston Association of Realtors.
The Realtors Commercial Alliance has been processing requests from state and local real estate associations to aggregate and upload their commercial listings onto the new site. The Realtors Commercial Alliance of Greater Miami and the Beaches is one such association. The association’s president, Thomas Byrne, said, "NAR’s CommercialSource online marketplace platform is at the forefront of providing our South Florida commercial members with the ability to showcase our dynamic market to buyers and sellers across the country."
On June 17, the new Web site will host the CommercialSource virtual convention and trade show. This year, NAR’s Chief Economist Lawrence Yun will be the keynote speaker, providing an overview of economic conditions affecting commercial real estate in today’s market.
More than 80,000 NAR members are engaged in commercial real estate services, with 70,000 engaged full-time in commercial practice.
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