Xceligent: Going Mainstream? ... By the end of this year, real estate professionals in fifteen markets nationwide will have access to "fully researched, locally controlled information exchanges -- Atlanta, Austin, Cleveland, Columbus (OH), Dallas, Des Moines, Indianapolis, Inland Empire (CA), Kansas City, Miami, Milwaukee, Minneapolis, Nashville, Orange County (CA) and San Diego." That's according to Doug Curry, CEO of Kansas City-based Xceligent, which contracts with local real estate organizations to implement these CIEs (Commercial Information Exchanges) -- effectively, multiple listing services.

In each market, Curry states that Xceligent has signed up a majority of the largest firms, representing at least 50% of the professionals active in the market. For a cost of about $60 per month per professional, Xceligent will deliver space available information (CDX), tenant information (Tenant Prospex), and comparable sales information (SiteTrax, currently under development). To begin coverage, Xceligent builds a complete dataset of market information, and then maintains it with a local staff and the active participation of local agents.

What's the challenge of growing a local commercial information exchange? According to Curry, "It's not just the technology. Equally important is a strong commitment to ongoing maintenance and a hands-on training program." And I would add that the culture within the local brokerage community plays a huge role in the success of such cooperative efforts with groups like Minneapolis' MNCAR and Seattle's CBA serving as great models of collaboration.

Each local group retains the rights to its data and determines the amount of information available to the public. Curry states that most CIEs choose to make a subset of their data accessible to the public. What do you think? Is a commercial multiple listing service in your future?

--Peter Pike