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Reis, Inc. Adds Land Transactions to Nationwide Sales Comparables Database
"Every Comp, Everywhere" Strategy Positions Reis to Compete for Significant Additional Revenue
NEW YORK, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Reis, Inc. (NASDAQ:REIS) ("Reis" or the "Company"), a leading provider of commercial real estate market information and analytical tools, announced today the immediate inclusion of all land sales transactions to its nationwide database of commercial real estate sales comparables. The move builds upon the Company's decision in 2016 to release all commercial real estate property transactions in the U.S., regardless of property type or geographic location. With the addition of land sales, Reis now provides sales comparables for all properties and parcels anywhere in the nation, "Every Comp, Everywhere."
"The achievement of ‘Every Comp, Everywhere' opens new doors for Reis, both within our current client base and beyond it," said Reis's President and COO, Bill Sander. "Our integrated market and analytical tools, long prized by research departments at major firms, are now fully configured to serve front line investment sales brokers, appraisers, tax appeal professionals, and others whose need to search all sales comparables, regardless of property type or location, has historically required them to maintain large six- and sometimes seven-figure contracts with other firms. Reis is now well positioned to compete for that business."
The newly added Land Sales Comparables will include geographical data points, including but not limited to location, land use code, parcel number, and lot size, in
addition to key transactional data points, such as buyer and seller name, sale price, sale date, assessed and appraised value, and financing details when available.
According to Mr. Sander, "This launch demonstrates yet again Reis's strategy of aligning product development to serve a real estate industry that is rapidly evolving and consuming even greater quantities of market intelligence."
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements may relate to Reis's or management's outlook or expectations for Reis's business, operations or
performance. Forward-looking statements reflect management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Please refer to Reis's annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of various risks that could cause results to differ materially.
Reis provides commercial real estate market information and analytical tools to real estate professionals through its Reis Services subsidiary. Reis Services, including its predecessors, was founded in 1980. Reis maintains a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. The database contains information on apartment, office, retail, warehouse/distribution, flex/research & development, self storage, seniors housing, student housing and affordable housing properties, and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provides its information services to many of the nation's leading lending institutions, equity investors, brokers and appraisers.
The Company's product portfolio features: Reis SE, its flagship delivery platform aimed at larger and mid-sized enterprises;
ReisReports, aimed at prosumers and smaller enterprises; and Reis Portfolio CRE, and other portfolio support products and services, aimed primarily at risk managers and credit administrators at banks and non-bank lending institutions. It is through these products that Reis provides online access to a proprietary database of commercial real estate information and analytical tools designed to facilitate debt and equity transactions as well as ongoing asset and portfolio evaluations. Depending on the product or level of entitlement, users have access to market trends and forecasts at metropolitan and neighborhood levels throughout the U.S. and/or detailed building-specific information such as rents, vacancy rates, lease terms, property sales, new construction listings and property valuation estimates. Reis's products are
designed to meet the demand for timely and accurate information to support the decision-making of property owners, developers, builders, banks and non-bank lenders, equity investors and service providers. These real estate professionals require access to timely information on both the performance and pricing of assets, including detailed data on market transactions, supply, absorption, rents and sale prices. This information is critical to all aspects of valuing assets and financing their acquisition, development and construction.
For more information regarding Reis's products and services, visit www.reis.com and www.reisreports.com.
Mark P. Cantaluppi
Vice President, Chief Financial Officer
Reis Sales Contact:
Michael J. Richardson
Executive Vice President, Sales and Marketing
Source: Reis, Inc
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