What Is Crexi and How Does it Work?

Commercial Real Estate Exchange, Inc. (CREXI) is a commercial real estate (CRE) marketplace based in Los Angeles, California. Since 2015, Crexi has become one of the most popular and fastest-growing CRE platforms.

Crexi is the most active CRE in the industry with over 500,000 commercial listings with a property total worth more than $1 trillion. Millions of users consisting of buyers, tenants, and brokers use Crexi to easily transact and lease the user-friendly platform. Due to the platform’s continuing growth, Crexi now employs more than 175 workers. Its growth will likely produce more employment in the future.

Who Uses Crexi?

Crexi is a strong digital marketplace for buyers, sellers, and investors. Since 2018, Crexi has listed more than 300,000 U.S. properties for sale or lease. More than 6 million users now prefer to use this commercial digital real estate marketplace. Stakeholders are drawn to Crexi because it uses advanced technology and data. However, anyone who buys, sells, and/or leases properties will receive great use from this popular CRE platform.

CRE professionals can streamline much faster, manage and expand their businesses. Mitsubishi Estate Company (“MEC”), Industry Ventures, and Prudence Holdings are among the new investors who have contributed $30 million to Crexi. Lerer Hippeau Ventures and Jackson Square Ventures, two previous investors, also contributed to Crexi.

Crexi generates revenue in three ways:

1. A subscription-based service for brokers planning to sell or lease real estate.
2. A bidding service in which Crexi receives a surcharge from any transaction that closes.
3. A data and analytics service that allows consumers to gain insight into the emerging developments in commercial real estate premised on the wide assortment of estates available through Crexi’s services.

The platform promotes its service and operation by providing innovative technology to those participating in the CRE market.

Crexi’s users can manage properties, including property sales, leases, and the closures of those properties as well.

Crexi allows investors, real estate professionals, buyers, and sellers to utilize their services digitally, without requiring the user to leave their platform.

Crexi is for real estate professionals and users who wish to avoid the financial consequences of a recession. According to CEO Mike DeGiorgio, Crexi is recession-proof, primarily due to auction services that continuously generate the platform’s revenue.

Crexi Competitors

Since 2015, $700 billion worth of transactions has been conducted through the platform, with approximately 40% exclusively dealing with the company. In 2020, Crexi recorded a 300 percent revenue growth and is expected to surpass 150 percent by the end of 2021.

Crexi’s growing prominence and success in the real estate industry keeps several other CRE platforms cautious of the competition from the popular platform.

Other real estate professionals, on the other hand, are free to use other CRE platforms. The real estate industry has undergone a revolution as a result of the rising digital economy, with both positive and negative consequences.

The advantages and disadvantages of using Crexi and other competitors who offer a comparable experience are listed below:

LoopNet vs. Crexi

Both Crexi and LoopNet are valuable platforms in the commercial real estate industry, but they differ in terms of their interfaces, features, pricing models, and market reach. Choosing between the two depends on individual needs and preferences.

LoopNet Overview

• Interface and Usability:
  • Well-established platform with a familiar but somewhat dated interface.
  • Straightforward navigation for property search and listings.
• Property Listings:
  • Offers a broad range of commercial property listings.
  • Comprehensive search filters for property type, size, and location.
• Pricing:
  • Offers both free basic access and premium features for a fee.
  • Premium features can enhance property visibility but come at an additional cost.
• Market Insights:
  • Provides market research and data, but may not be as comprehensive as Crexi’s tools.
• Collaboration Tools:
  • Facilitates networking and collaboration among real estate professionals.
  • LoopNet’s platform allows users to connect with others for deal-making.
• Customer Support:
  • Offers customer support but may have varying response times.
  • Support may depend on subscription levels.
• International Reach:
  • Primarily focused on the United States, which could be a limitation for users seeking international properties.
• Free Access:
  • Basic access to property listings is free, but premium listings and features come at an additional cost.

Crexi Overview

• Interface and Usability:
  • Offers a modern and user-friendly interface.
  • Intuitive navigation for easy property search and listing.
• Property Listings:
  • Strong focus on commercial real estate with diverse property types.
  • Robust filtering options for refined property searches.
• Pricing:
  • Offers flexible pricing plans tailored to user needs.
  • Transparency in pricing with clear information on subscription costs.
• Market Insights:
  • Provides valuable market research and analysis tools.
  • Allows users to access comprehensive data for making informed decisions.
• Collaboration Tools:
  • Offers efficient deal room collaboration for seamless communication.
  • Enhanced networking features, including integration with LinkedIn.
• Customer Support:
  • Known for responsive and helpful customer support.
  • Offers various support channels and resources for users.
• International Reach:
  • Expanding beyond the United States, catering to international markets.
• Free Access:
  • Provides a free version with limited features, but offers more accessible basic access compared to LoopNet.

Crexi Contact Information

Crexi may be contacted through their website: https://learn.crexi.com or by phone at (888) 273-0423

FAQ:  https://learn.crexi.com/hc/en-us/articles/360055984594-More-Questions-and-Answers

Crexi Pricing Information

Crexi offers a free plan that allows for communication with quality leads, accurate property analysis, timely auction alerts, and the ability to send and track emails.

Crexi also offers a premium version called PRO.

PRO allows real estate professionals to access more valuable ranks in leads and searches for their listings. PRO subscription is priced at $75 monthly or $99 annually.

Crexi Login Information

On the top right-hand corner of the Crexi homepage website, https://www.crexi.com/insights/about-us is a login or sign-up option.

Sign up for the free version or PRO version of Crexi using your email address.

Crexi will send an email with further instructions. Help is available at the bottom of the Crexi homepage website.