A Vancouver-based software-as-a-service company targeting the real estate industry is starting off the new year by bolstering its flagship offering.
The publicly traded Real Estate Software as a Service, or RESAAS, announced this month an expansion of its Commercial Data Exchange to include support for the Retail Asset Class.
For institutional landlords managing extensive retail portfolios, finding effective ways to market spaces, connect with Brokerages and tenants has been a longstanding challenge.
“Retail tenants entering the North American real estate market often face significant challenges due to the lack of accessible, accurate data on available spaces,” says Jessica Toppazzini, former Managing Director of Avison Young, who joined the advisory board of RESAAS earlier this month.
RESAAS’ Commercial Data Exchange, or CODE, provides a secure and centralized platform where institutional landlords can share real-time leasing availabilities directly with Brokerages and tenants, according to a statement from the B.C. firm.
CODE leverages artificial intelligence technology to streamline data distribution, empowering institutional landlords across North America to market their properties efficiently, resulting in reduced vacancies, the company says.
“RESAAS CODE addresses [the problem] by providing institutional landlords with a secure platform to share their availabilities, fostering stronger connections with Brokerages and tenants,” Toppazzini remarked. “The result is a more efficient, accurate and data-centric process that benefits Brokerages, institutional landlords and tenants alike.”
The addition of the Retail Asset Class to RESAAS CODE reflects “growing demand” from institutional landlords across North America, according to the company, which believes the expansion “significantly increases” its potential customer base.
RESAAS also recently added the Industrial Asset Class—which includes warehouses, data centres, and various factories among other facilities—to CODE.
“Office and Industrial are the two largest Asset Classes of commercial properties that transact in most major markets,” explained Tom Rossiter, CEO of RESAAS, earlier this year. “With this expansion of the RESAAS Commercial Data Exchange solution, RESAAS is securing new customers that sell, lease, and manage Industrial properties.”
Over 600,000 agents in 160 countries use RESAAS to obtain unique data, access to international referrals, and “Coming Soon” listings.
RESAAS shares are listed in Canada on the TSX Venture Exchange using the ticker RSS, and on the OTC Exchange under RSASF.
RESAAS was founded in 2009 as a social network for real estate agents and launched CODE in 2024.
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