When a new product like EG Premier Data comes along, providing trusted industry-wide commercial property data, it creates a lot of interest from those in the market: agents, surveyors, landlords, developers and occupiers.
The well know EG (formerly Estates Gazette) brand is an established provider of data, now part of the Lexis Nexis Risk Solutions Group which is ultimately owned by the £56bn data analytics giant RELX plc (formerly known as Reed Elsevier). This global company has a portfolio that includes brands spanning professional, legal, educational and multiple industries, providing customers with innovative technologies, information-based analytics and decision making tools.
Estates Gazette started providing data services and commercial property industry news and analytics for the UK in 1858, celebrating its 150th anniversary in 2008. In 1996, Estates Gazette launched its own internet based online property news and research arm, and Egi followed in 1997 with Propertylink, a free-access online UK commercial property availability search website – Rightmove for commercial!
Major US competitor
A major player and direct competitor to EG is US listed CoStar Inc. This American owned $22bn giant is a leading provider of commercial real estate data and marketplace listing platforms used extensively by International and UK agents, and property professionals. Its data offering contains in-depth analytical information on nearly 6 million commercial real estate properties world-wide related to various sub-sectors including office, retail, multifamily, healthcare, industrial, self-storage, and data centres.
The company operates many flagship brands such as CoStar Suite, LoopNet, Apartments.com, BizBuySell, LandsofAmerica, and so on, with more than 75% of its revenue classified as subscription-based. The company has also recently expanded its presence in Canada, the United Kingdom, Spain, and France.
The deep value of good data?
At this critical recovery period, with lots of vacant properties up for grabs, commercial real estate agents and investment companies have a big choice but a hard task narrowing down the long list of all available investment opportunities and then being in a position to make decisions to which ones are likely to be potentially the most profitable investment properties, with any degree of accuracy.
This is where those with the information, the deep data analysis which is the key to success in the industry, are at an advantage. Armed with the indispensable resource that these companies provide their odds of success are shortened considerably. These modern ways of collating and presenting data to professionals is helping these companies make successful investment decisions, data that includes and helps:
– Investment strategy development – without reliable research data bad decisions can result, if the data is flawed it can easily lead to financial stress in the long run.
– Cost control – the length of time it takes and the labour involved to find the right investment or fill a vacancy can be considerably shortened when accurate and reliable data is to hand.
– Location data – having accurate location data around market research and trade analysis makes it far easier to convince potential tenants and close deals more easily. Anecdotal evidence is fine, but you can’t beat solid evidential data based on an accurate source which can be convincingly presented.
EG says that its EG Premier Data suite “will offer nationwide deals data, availability data, planning and construction data, ownership data and demand data where each data set can support a multitude of different use cases.” Demand data highlights user sentiment over time by geography, sector and size based on user activity such as advert views and enquiries from EG Propertylink, the company says.
Sean Norris, managing director of EG, has said
“EG continues to lead the way in the UK commercial real estate industry with the launch of EG Premier Data. We can support our customers with a seamless and time-saving integration of our data directly into their existing systems, enabling them to harness the power of our comprehensive EG Premier Data.”