In the coming weeks, NAI Keystone will be sharing our top technology tools (in no particular order). For the first edition of this blog series, we will be exploring Crexi (Crexi.com), its origins, its uses, and what sets it apart. Rest assured, though, this is not a sponsored post, but rather one aimed at sharing tips with our wider community.
What is Crexi?
Crexi is a multipurpose tool, built by commercial real estate (CRE) professionals for their peers. It offers a marketplace for listing properties, as well as lead management tools. It’s since grown into a broader service, using technology to facilitate things like lead analytics, marketing automation, secure file storage, and online auctions.
Every hero has an origin story
One thing we love about Crexi is that it is not a tech tool imposed from outside the CRE space, but a CRE tool that happens to be technological in nature. As the Crexi website says, “a group of seasoned CRE professionals founded Crexi in 2015, astonished by how commercial real estate lagged behind other industries moving into the digital age. Determined to create a platform needed in the industry, the co-founders built and launched Crexi in 2016.”
Turning info to insight
As the dawn of the data age is so deftly demonstrating, data is the new oil, and because of the nature of Crexi’s service, they are sitting on a lot of it. Crexi has turned their information into insights, offering these for free to the wider world on their Insights page.
You can access monthly CRE trend reports which include key metrics from their property database, including average price per square foot, search behavior, occupancy, pricing patterns across asset types, and state-by-state breakdowns. Crexi also offers more granular market intelligence as a product for paying clients.
Looking to the future
Crexi initially raised funding in around 2018, but they continue to seek strategic investment, like their January 2020 deal in which they raised some $30 million, to continue their growth plans.