Situs Launches Software to Centralize CRE Market Data

Houston-based Situs Cos. has announced the debut of Compass, a secure online e-library that centralizes commercial real estate property data and collects and makes available up-to-date comprehensive global market research and reports. The new Compass product is being used already as an information management platform for Situs, and is now for sale as a customized application for other companies worldwide. Situs is responsible for the development of the product, will customize, install, manage the information and the internet host site, as well as provide daily backing up of all new data every night.Jennifer Bean, a director at Situs told CPN, “This product is, I believe, revolutionary and unprecedented. No other application combines the universe of a companies’ real estate information into one repository.”Three large company clients–two national and one international–are currently in negotiation to procure Compass, who will start the process by evaluating all of a companies information to see how it could be centralized on the portal. Added Bean, “Compass has applicability and potential benefits for commercial property owners, and property management firms, as well as asset management companies and commercial and investment banks. For example, as a company evaluates all their internal information , they will often recognize redundancies, and I’ve seen savings of more than 25 percent of spending, as they can centralize and eliminate the unnecessary redundancies in their market research.” COMPASS provides in-depth profiles, quarterly global market overviews and Situs INSIGHT, a newsletter which provides the up-to-date data categorized and organized by the type of property and location. The security of the information and the accuracy are top priorities in the system format. All of the information and data is managed with dedicated servers for each company who subscribes to the service at CSI WEBHOST, a network that will be constantly monitored. Said Bean, “We are continuously expanding the global information that is available on the portal. There are whole new emerging markets worldwide that are opening up all the time such as India, China, Asia…even Germany. Daily we are going out to search and include new providers of market information about these emerging markets.”