New Product Launch!

Today we go live with our brand new product, CMBS Pro, a web-based commercial real estate deal management system that is combined with CMBS data. We took the same enterprise software we sell to large banks, configured it to focus only on the core elements of a deal, combined CMBS data and priced it to attract individual users. The result is a clean, easy to use application that replaces your spreadsheets and other valuation tools and we hope will become an essential part of your CRE business process.

The launch marks a milestone for the company and its mission to provide open, affordable and accessible underwriting tools and data to CRE professionals. Personally, I am proud to be offering a path for users to experience the benefits of technology and standardization at a reasonable price. Commercial real estate in general has been slow to adopt software and standards, and one of the reasons is they have been way too expensive. We plan to provide a service the way the Internet is supposed to — just about free.

Well, not exactly free. It does cost money to provide these services but, with monthly user fees starting at $20 per month and topping out at $80 per month (with 12.5% discounts if you pay in advance), I hope you find there is great value in our offering. Despite the fact that the blog has been quiet the last few months, you will see when you sign up that we have been working hard on getting this ready. We hope you like it — and we are excited to continue improving it.

We are off to exhibit at the International Council of Shopping Centers conference in Las Vegas and the MBA Commercial/Multifamily Servicing and Technology Conference in Dallas as we begin the marketing and PR for the launch. I will check in from the shows.

Attention existing CMBS Leads customers: The CMBS.com service has been significantly upgraded and now costs even less. We will provide a free CMBS.com Pro Platinum account — which includes national Leads data — for the rest of the term of your agreement. Account information will be emailed to you. Log in at http://leads.cmbs.com.

— — —

Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.