American real estate software company Yardi yesterday announced that it has acquired, revamped and relaunched the commercial real estate portal CommercialSearch.com. A big player with thousands of employees in the states, Yardi is primarily a software company with property management, CRM and related products around property transactions making up its bread and butter offerings.
The company also owns and operates the property portals Point2 and PropertyShark as well as CommercialSearch all as part of its ‘CommercialEdge’ property marketing product which according to a press release generates over 1 million monthly visits to commercial property listings.
"The response by brokers, owners and investors to CommercialEdge has been incredible," said Arjun Rao, senior director in Yardi's commercial division. "With CommercialSearch.com, we continue to provide more high-return avenues for Edge users to market their listings and drive business."
The market for commercial property in the United States is certainly a lucrative one with agents able to earn up to 10% commission for commercial sales, but it is also very competitive. CommercialSearch will be up against it in a market dominated by Costar Group brands Ten-x and Loopnet with a myriad of other players such as Brevitas and Quantum Listing making up a crowded property marketing industry.