Appraisal Articles 2019 Free Appraisal Articles for Appraisers and the Public
The consolidation of real estate sales and leasing data into the hands of a few corporations has almost created a data monopoly for them. The choice now is to either join them or go without the data and it has become harder to find alternate data sources. Paying the relatively large monthly fees demanded or spending a great deal of time collecting the data yourself have been the only choices. Thus, real estate brokers, appraisers and investors have found themselves at the mercy of a relatively few data providers who can in the future demand whatever they feel is reasonable for access.
COMPSTAK.com is a somewhat new entrant into the online data provider world, at least in my state (Nevada). They have teamed with Xceligent and developed both leasing and sales databases that are interactive with maps and thus are very useful for searching. You can access their website at http://www.compstak.com/.
It appears that there are no large monthly fees charged to access COMPSTAK.com data like those required by their competitor sites. So, if you want access to valuable real property data you can have it without paying what is the equivalent of a car payment each month to get it by going to this site. There are many of us who need access but who don’t want the large fees associated with the other sites.
I’m not saying that the site is providing data for free, it’s not. When you find data that you need there is a small fee to download and use that data that you have selected. If you use a lot of data it may be the case that the COMPSTAK “pay-per-sale” or “pay-per-lease” method of payment may be more expensive than the monthly pay sites, but it is likely that those with a need for more data are given a flat fee access to the site.
As I noted the website is relatively new in Nevada and thus it has not yet been fully populated with some of the leases and sales data that have recently been recorded or published, but I have noted that the website is growing quickly and in time it will rival the much more expensive competitive sites.
As an old-timer I have kept my own database of real property sales and leasing information for many years. It does however take up a lot of my time keeping the database that I created current, but for me it’s less painful than sending that check each and every month to the people who least need it.
It’s my opinion that real estate professionals need competition from at least a few data providers. It shouldn’t cost hundreds of dollars each month to access data if you don’t have that great a need for it. If the increasing cost of real property data isn’t controlled by competition the cost of doing business for all but a few will be painful. It’s good to see a strong competitor like COMPSTAK come into the Nevada real property market and I am looking forward to the continued development of their databases.
For more appraisal information contact Glenn J. Rigdon MA, MRICS, ASA is a Las Vegas / Henderson Nevada based appraiser who can be contacted via email or via his business website known as Appraiser Las Vegas (http://www.appraiserlasvegas.com), or you can also click on “Contact Us” on the home page of this website or visit my public profile at LinkedIn at http://www.linkedin.com/pub/glenn-rigdon-ma-mrics-asa/1a/30b/879/
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