Commercial MLS in Commercial Real Estate
A multiple listing service, or MLS, is a software system used by real estate brokers in order to represent the sellers of properties, search for properties for buyers, and to establish commission rates for other brokers who may help a broker sell a property. There are approximately 900 MLS services in the United States, most of which are intended for residential property brokers in specific local areas. However, there are only a few commercial MLS providers that stand out, including LoopNet, CoStar, CREXi, Brevitas, and ApartmentBuildings.com.
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What is a Commercial MLS?
A multiple listing service, or MLS, is a software system used by real estate brokers in order to represent the sellers of properties, search for properties for buyers, and to establish commission rates for other brokers who may help a broker sell a property. There are approximately 900 MLS services in the United States, most of which are intended for residential property brokers in specific local areas. However, there are only a few commercial MLS providers that stand out, including LoopNet, CoStar, CREXi, Brevitas, and ApartmentBuildings.com.
The Top Commercial MLS Providers Compared
LoopNet: LoopNet is the largest commercial MLS in the United States. Currently, the MLS provides over 500,000 listings valued at a staggering $425 billion. The service has over 5 million visitors per month, and has benefits including high quality videos and HD photos in order to give potential buyers highly detailed views of their properties. LoopNet was purchased by CoStar in 2012.
CoStar: Originally a major competitor to LoopNet, CoStar now focuses on a suite of CRE software platforms, including a private buyer network, and COMPS, which brands itself as the largest database of commercial real estate sale records on the market, and is designed to help CRE professionals compare the costs of different properties. In addition to owning LoopNet, CoStar also owns Apartments.com, BizBuySell, CityFeet, and Showcase.
CREXi: CREXi, which is an acronym for Commercial Real Estate Exchange, Inc., is one of the newest MLS providers on this list, having been founded in 2015. CREXi raised $11 million in venture capital funding in 2018, and it plans to use the funds to continue its mission to make commercial real estate more transparent and liquid, by digitizing everything from property purchase documentation to finding CRE financing. The company currently reports around 200,000 users per month and says it’s already facilitated bringing 100,000 to market. CREXi’s listings currently are valued at a substantial $450 billion— so, while it may not have LoopNet’s reputation, the service is likely to become a formidable competitor.
Brevitas: Branding itself as an exclusive private market for commercial real estate, Brevitas combines a traditional commercial MLS and a DocuSign exchange with messaging and sales features. While Brevitas has some great buzz, it’s currently not as established as many of the other MLS providers on this list.
ApartmentBuildings.com: Unlike most other MLS providers, ApartmentBuildings.com is focused solely on listing multifamily properties. Currently, the site operates listings in Arizona, California, Texas, Florida and New York, the five largest real estate markets in the country. In these markets, the company is second only to LoopNet in the amount and value of multifamily listings—which means it could be a growing force as it expands througout the country.
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Related Questions
What is a commercial MLS?
A commercial MLS, or multiple listing service, is a software system used by real estate brokers to represent the sellers of properties, search for properties for buyers, and to establish commission rates for other brokers who may help a broker sell a property. There are approximately 900 MLS services in the United States, most of which are intended for residential property brokers in specific local areas. However, there are only a few commercial MLS providers that stand out, including LoopNet, CoStar, CREXi, Brevitas, and ApartmentBuildings.com.
The top commercial MLS providers compared are:
Provider Description LoopNet LoopNet is the largest commercial MLS in the United States. Currently, the MLS provides over 500,000 listings valued at a staggering $425 billion. The service has over 5 million visitors per month, and has benefits including high quality videos and HD photos in order to give potential buyers highly detailed views of their properties. LoopNet was purchased by CoStar in 2012. CoStar Originally a major competitor to LoopNet, CoStar now focuses on a suite of CRE software platforms, including a private buyer network, and COMPS, which brands itself as the largest database of commercial real estate sale records on the market, and is designed to help CRE professionals compare the costs of different properties. In addition to owning LoopNet, CoStar also owns Apartments.com, BizBuySell, CityFeet, and Showcase. CREXi CREXi, which is an acronym for Commercial Real Estate Exchange, Inc., is one of the newest MLS providers on this list, having been founded in 2015. CREXi raised $11 million in venture capital funding in 2018, and it plans to use the funds to continue its mission to make commercial real estate more transparent and liquid, by digitizing everything from property purchase documentation to finding CRE financing. The company currently reports around 200,000 users per month and says it’s already facilitated bringing 100,000 to market. CREXi’s listings currently are valued at a substantial $450 billion— so, while it may not have LoopNet’s reputation, the service is likely to become a formidable competitor. Brevitas Branding itself as an exclusive private market for commercial real estate, Brevitas combines a traditional commercial MLS and a DocuSign exchange with messaging and sales features. While Brevitas has some great buzz, it’s currently not as established as many of the other MLS providers on this list. ApartmentBuildings.com Unlike most other MLS providers, ApartmentBuildings.com is focused solely on listing multifamily properties. Currently, the site operates listings in Arizona, California, Texas, Florida and New York, the five largest real estate markets in the country. In these markets, the company is second only to LoopNet in the amount and value of multifamily listings—which means it could be a growing force as it expands througout the country. How does a commercial MLS work?
A commercial MLS is a software system used by real estate brokers to represent the sellers of properties, search for properties for buyers, and to establish commission rates for other brokers who may help a broker sell a property. It is similar to a residential MLS, but there are only a few commercial MLS providers that stand out, including LoopNet, CoStar, CREXi, Brevitas, and ApartmentBuildings.com.
LoopNet is the largest commercial MLS in the United States, providing over 500,000 listings valued at a staggering $425 billion. CoStar focuses on a suite of CRE software platforms, including a private buyer network, and COMPS, which brands itself as the largest database of commercial real estate sale records on the market. CREXi is one of the newest MLS providers, having been founded in 2015, and it plans to use its funds to make commercial real estate more transparent and liquid. Brevitas combines a traditional commercial MLS and a DocuSign exchange with messaging and sales features. ApartmentBuildings.com is focused solely on listing multifamily properties.
In general, a commercial MLS allows brokers to list properties, search for properties, and establish commission rates. It also provides potential buyers with high quality videos and HD photos in order to give them highly detailed views of their properties. Additionally, some commercial MLS providers offer additional services such as private buyer networks, databases of commercial real estate sale records, and messaging and sales features.
What are the benefits of using a commercial MLS?
The benefits of using a commercial MLS include access to a large number of listings, efficient integrated search tools, and the ability to post images and documents. Additionally, some commercial MLS options offer unlimited listings for a low monthly fee, and some even offer free limited memberships.
For example, CIMLS is one of the largest commercial MLS platforms on the market today, with more than $500 billion in listed properties, and more than 300,000 members. Property types available include retail, multifamily, industrial, medical, land, and hospitality properties. Unlike many commercial MLS options, CIMLS allows a free limited membership, which permits brokers and investors to browse and submit listings to the site. With a paid membership, members can post images and documents, and well as utilize more of the service’s advanced marketing functions. In addition to its MLS, CIMLS sells a variety of CRE data management and marketing services.
Total Commercial is another commercial MLS option that offers unlimited listings for only $120/month. Total Commercial lists properties in all 50 states, as well as Canada, Puerto Rico, Costa Rica, Panama, Mexico, Ecuador, and the Dominican Republic.
What types of properties are listed on a commercial MLS?
A commercial MLS typically lists properties such as retail, multifamily, industrial, medical, land, and hospitality properties. According to Commercial Real Estate Loans, the top 10 commercial MLS options for brokers and investors in 2022 include CIMLS, Catylist, Total Commercial, and LoopNet. CIMLS lists properties such as retail, multifamily, industrial, medical, land, and hospitality properties. Catylist lists property types such as multifamily, retail, hospitality, office, and industrial property. Total Commercial lists properties in all 50 states, as well as Canada, Puerto Rico, Costa Rica, Panama, Mexico, Ecuador, and the Dominican Republic. LoopNet lists properties such as retail, multifamily, office, industrial, land, and hospitality properties.
How can I access a commercial MLS?
You can access a commercial MLS by using a few different providers, including LoopNet, CoStar, CREXi, Brevitas, and ApartmentBuildings.com. You can also find commercial brokers to work with by searching an MLS or through a simple Google search. Contacting brokers directly via cold calling, emails, or LinkedIn messages can also be a great way to find properties that meet your specifications.