Market Gets New Real Estate Database

Commercial real estate agents in Northwest Arkansas have a new tool for marketing and researching property listings on the Internet.

Several local brokers are partnering with Xceligent, a provider of listing information for the commercial real estate industry, to develop and operate Internet-based commercial property databases.

The databases feature leasing information and statistics on office, retail and industrial properties.

Marshall Saviers of Sage Partners in Fayetteville said the database is a great tool for brokers.

“There have been numerous commercial real estate databases that have come into Northwest Arkansas during the past couple of years.” he said.  “Xceligent has quickly become the market leader.  

“I think this is due to the fact that they formed advisory boards made up of local commercial brokers for the office, retail, and industrial sectors.  This ensures that building and property info is up to date and accurate, while also making the brokers feel like they are a part of the process.”

The company’s business model is based on the belief that every Commercial Information Exchange should have a governing board comprised of local exchange members. Members maintain the information and the level of research oversight is determined by the local market.

Xceligent, based in Independence, Mo. formed an alliance with LoopNet Inc., which operates the largest online real estate marketplace, in 2007 and launched a nationwide expansion.