Global leader in CRE information, analytics and news, partners with a national real estate brokerage to expand growing commercial platform and best serve brokers and clients
WASHINGTON, December 12, 2024--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today announced an enterprise agreement with eXp Commercial, a nationwide virtual commercial real estate brokerage and subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), to provide its advisors with access to the leading global real estate data and analytics platform.
With this partnership, CoStar Group will equip eXp Commercial advisors with unrivaled insights into national property values, market conditions and availability. eXp Commercial’s advisors will now have access to the largest and most comprehensive global commercial real estate data and analytics platform, with insights on properties and spaces across office, industrial, retail, multifamily, hotel and life sciences nationwide.
"eXp Commercial’s unique cloud-based real estate platform offers a best-in-class experience, and we’re excited to further expand its innovative suite of offerings with access to CoStar," said Andy Florance, Founder and Chief Executive Officer of CoStar Group. "Since our founding, we have been dedicated to transforming the commercial and residential real estate sectors by developing solutions that help our clients discover properties, gain valuable insights, and cultivate connections that enhance their businesses. We look forward to collaborating with eXp Commercial to provide outstanding data and analytics that will better serve the needs of the real estate community."
CoStar offers brokers, professionals and users direct access to property data, seamlessly and efficiently meeting the needs of eXp Commercial’s client and professional user base. eXp Commercial has pioneered the virtual commercial and residential real estate industry through state-of-the-art tools and technology, and access to CoStar’s solution-driven suite of services is expected to contribute to the brokerage’s continued growth in the industry.
"We’re committed to providing our advisors with the foundational technology they need to compete and excel in the industry," said Sean Murphy, SVP of Growth at eXp Commercial. "CoStar is central to this approach — it equips our advisors with the essential data and insights that empower them to make faster, more informed decisions."
Leo Pareja, CEO, eXp Realty and eXp Commercial, highlighted the impact of these new resources: "We are redefining what’s possible for commercial real estate professionals. By providing access to CoStar, we are offering our advisors the best-in-class tools they need to succeed in this dynamic market."
About CoStar Group
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Commercial, a nationwide cloud-based commercial real estate brokerage. As a publicly traded company, it offers commercial advisors the unique opportunity to earn equity awards for meeting production goals and driving company growth. With advanced technology and a global network, eXp Commercial helps advisors grow their businesses, increase profitability, and serve clients across commercial sectors like office, industrial, retail, multifamily, land, specialty properties and more. Learn more at https://www.expcommercial.com/ and https://expworldholdings.com.
Safe Harbor Statement
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar Group's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that the partnership between CoStar Group and eXp Commercial fails to produce the expected benefits. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’s filings from time to time with the Securities and Exchange Commission (the "SEC"), including in CoStar Group’s Annual Report on Form 10-K for the year ended December 31, 2023, which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar Group’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
