Commercial CIE’s Are Dead.Here Is Why!

Commercial Information Exchanges Are Dead. Here Is Why!

Commercial CIE’s (Commercial Information Exchange) are dead. Bold statement or just stating the reality of today. Why have they become obsolete? They had such promise and looked like the future for commercial real estate data.Let’s do a little drill down and see what happened.

The Promise.

1.Any and all properties within your market.

2.Complete collaboration with all brokers.

3. All the tools and technology you will ever need.

4.True and accurate data.

The Reality.

1.Listings not only not complete but also useless.

2.No leads as in no lead generation.

3.PDF and broadcast email seen as the only true marketing platform.

4.All info is still held within and therefore useless.

5.All kinds of tools but rarely used and not profitable for the users.

6.NO DATA STANDARDS.

7.Non users subsidize users.Think about it.

8. Data focus leads to no collaboration.

The Chaos?

1.The building creates the real true and accurate data not the broker.

2.Realtor.com faces the consumer and commercial real estate simply does not.

3.Residential is 20 years ahead and cracking the earth with innovation and adaptation yet they are still struggling to survive.

4.The broker/agent data useless.

5.840 million reasons to be a third party.

6.GOOGLE. Everything you need already there…for FREE.

NEXT?

1. Face the consumer/client and not with just listings.

2.Real worldwide broker collaboration on a scale never imagined.

3.Embrace the entire commercial real estate community.

4.Survival is the consumer/client. NOT the broker.

5.”Yelp” for commercial real estate accountability.

6.Commercial real estate data with a marketing platform. You say Loopnet.

7.I say “What’s Next?”

Your Thoughts?

 

Photo Credit:http://www.flickr.com/photos/vagabondjim/ Via Flickr

 

 

 

Duke Long

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