NEW YORK, April 12, 2011 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS), a leading provider of commercial real estate market information and analytical tools, announced today the expansion of its Sales Comparables coverage to deals valued at $250,000 and greater. Previously, the firm's minimum threshold for transaction coverage was $2,000,000. This expanded data set is now available on Reis's flagship institutional product, Reis SE (), and its small business offering, ReisReports (). Each sales comparable record includes information critical to understanding a sale transaction, such as price, closing date, buyer, seller and, where available, financing terms and capitalization rates.
According to Reis's CEO, Lloyd Lynford, the enhancement will appeal to current clients of both Reis platforms, while continuing to solidify Reis's position as the undisputed leader in its field. "It has long been true that no other source has the breadth and depth of Reis's informational and analytical capabilities," he said, "or is as widely recognized by the industry's leading players and business press as the 'must have' resource. With our relentless sequence of product enhancements and introduction of new content over many years, our offering for major entities has far outdistanced those of our would-be competitors. By significantly widening our sales comparables coverage, we are improving a module that already delivers tens of thousands of sales transaction records to our clients every month. But beyond adding yet another point of differentiation between Reis and other data providers, this improvement provides tremendous value to leaner organizations who are obtaining market reports from our small business site."
Reis's COO, Bill Sander, concurred, saying, "Considering our position as the primary provider of commercial real estate information to large firms and policy making institutions, many smaller brokerage, appraisal, legal and financing businesses are seeking to arm themselves with the equivalent analytical tools and research. By creating ReisReports.com, a product that requires no long-term commitment, costs only $75 per month, covers 200 markets and now contains sales comparables at the $250,000 threshold, we've built the perfect platform for this vast tier of new Reis prospects, many of whom we believe will eventually graduate to higher value institutional Reis SE subscriptions."
Reis, through its flagship institutional product, Reis SE , and through its new small business product, ReisReports , 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 evaluations. Depending on the product, users have access to trend and forecast analysis 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, and equity investors. 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.
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CONTACT: Press Contact: Michael J. Richardson Senior Vice President, Sales & Marketing Investor Relations: Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122