Site Feature: is the only corporate resource for confidential, online exchanges of actual real estate lease details – “Comps”.

Obviously, comps already make their way through the market through personal and corporate connections, but they are exchanged through an inefficient process of professionals meandering through the marketplace, one phone call at a time, cashing in favors with friends and competitors, and spending an inordinate amount of time securing (generally) incomplete information. If you are in the information loop, it demands a lot of time and effort. If you are out of the loop, you face a serious competitive disadvantage.

CompShop Members gain access to Comps either through the redemption of Points (Points that Members accumulate by contributing Comps) or through purchase. For every Qualified Comp provided by a Member, that Member may add three (3) new Comps to his or her Library from the CompShop Database. We encourage Members to add Comps as soon as they become known, as Points are awarded only to the Member who first contributes the Comp for a particular transaction.

CompShop comprises both the existing CompShop Database and the CompShop Exchange (i.e. the collective network of its Members). Whenever CompShop’s Database needs a Comp you want, the power of CompShop Exchange kicks in and retrieves it from fellow Members who know the property.

Anonymity is preserved by CompShop through the use of self-selected Screen Names. Throughout the CompShop website (both when contributing or receiving Comps), you will be identified only by your Screen Name and Primary Business Activity. CompShop’s Privacy Policy underscores the importance of protecting the privacy and anonymity of our Members and details our handling of your personally private information.

Need a little more detailed information? Check out the FAQ section of the site.  I love the fact that the transparency wall is starting to break down. Is this the beginning of the next wave of true and accurate lease comp data? Can I say I told you so yet?  Are there any similar services?  Would you or would you not participate and why?  Thoughts?

Duke Long