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To better understand where NAR members fit into the picture when compared with other commercial practitioners, we analyzed REALTORS®’ business activity across two commercial listing platforms — Brevitas and CREXi. We looked at property type, list price, price per square foot, and building and lot size, as well as members’ geographic activity across the U.S.
The analysis showed that agents who listed properties on both Brevitas and CREXi outperformed agents who listed on only a single platform. These top-performing commercial agents tended to list more properties and at higher list prices. Of all agents across Brevitas and CREXi, 14% captured 24% of all market listings across both platforms. REALTORS® constituted 49% of all these top agents and listed 50% of the top agents’ properties. REALTOR® top agents listed properties at a median price of $722,000 on Brevitas and $650,000 on CREXi. Agents who listed on only a single platform had a median of $580,800 on Brevitas and $549,000 on CREXi. These member top agents also outshined single-platform users in terms of median price per square foot (on CREXi, $113 compared to $99); median building size (on Brevitas, 11,900 square feet compared to 10,000 square feet; on CREXi, 6,500 square feet compared with 6,100 square feet); and median lot size (on Brevitas, 88 acres compared to 85 acres; on CREXi, 68 acres compared to 53 acres).
On Brevitas, where sales and leasing are combined, REALTORS® listed a greater share of multifamily properties than other users and slightly more land and lots and industrial properties. On CREXi Sales, REALTORS® listed more land and lots, and slightly more special-purpose buildings, compared with other users; On CREXi Leasing, REALTORS® listed a greater share of commercial, distribution warehouses, and professional properties compared with others. For many property types across each site, there was virtually no difference in share between REALTORS® and other platform users.
Stay tuned for follow-up research. In the meantime, see what’s available on both platforms at narrpr.com.
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