Leveraging the Power of LexisNexis® to Save Time and Money in Commercial Property Research
Transwestern is a privately held real estate firm that specializes in agency leasing, management, tenant advisory, capital markets, research and sustainability services. The firm operates 34 U.S. offices and assists clients through more than 180 offices in 37 countries (as part of a strategic alliance with BNP Paribas Real Estate), adding value for investors, owners and occupiers of all commercial property types.
“My role is to provide market intelligence and analysis that supports all of our service lines,” explained Michael Soto, research manager for the Southern California region of Transwestern. “For example, if one of our brokers is taking a look at a portfolio of properties that a client is interested in potentially acquiring, I might be asked to research important details about the current owners of those properties so we can conduct some due diligence on behalf of the client.”
In the past, Soto relied on several different resources to get the information he needed in his research projects, including a few proprietary online research services and a patchwork of government agency websites to track down public records. Although this workflow produced results that were thorough and accurate, it was onerous for him to consult multiple different sources on each individual research assignment.
LexisNexis will save you a tremendous amount of time, which translates into a substantial amount of cost savings for any real estate business.
“I’ve been a longtime user of LexisNexis, so I was intrigued when our company’s LexisNexis representative told me about a new interface that her company had created,” said Soto. “I realized right away that this might allow me to consolidate the number of research services I had to access during the course of a single day.”
LexisNexis offers a suite of research tools specific to real estate professionals that helps you quickly uncover facts that are integral to your work—whether it involves real estate sales, leasing, management or investing. The user interface customized for real estate professionals also allows you to locate hard-to-find private and regulated data—including addresses, telephone numbers, emails and family members—by conducting a single search with public records. With more than 78+ billion records, LexisNexis offers one of the world’s largest collections of public records available. Real estate professionals can identify and verify LLC partners/principals, as well as property owners, using a single search functionality.
You can stay informed on the latest industry developments with access to more than 40,000 online and premium news and business sources. LexisNexis makes it easy to conduct research on behalf of clients by allowing you to prepare with in-depth company profiles, executive names and property owner information from business news, financials, targeted market data, legal and more. “My first interaction with this real estate solution was in response to a request from one of our brokers to surface as many details as possible regarding the owners of a piece of property at an address they handed me,” said Soto.
“I logged onto LexisNexis and, within a matter of minutes, I had my hands on a set of detailed results that included all of the possible information the broker could have wanted about the owners of that property and its history. These results were made possible by their extraordinary database of public records, which are unsurpassed in the online research business.”
“Although I still consult other information sources on occasion, for deep research into properties and their ownership, I now use LexisNexis exclusively,” said Soto. “It is an intuitive and seamless research experience for me.” Soto identified four key benefits that he has realized from using LexisNexis:
1. Time Savings
“The information surfaced by the LexisNexis tools is very difficult to obtain and, even if I do find it elsewhere, it might not be up to date,” he said. “By accessing all of the information I need from one reliable source, I’m able to save several hours of research time every week.”
2. Quality of Results
“LexisNexis delivers a depth of information that I can’t get anywhere else, which gives me confidence in knowing that I’m surfacing information for our brokers that is accurate and on-point to their specific requests,” he said.
3. One-Stop Research
“The customized user interface for real estate professionals is a seamless, integrated research solution that allows me to get everything I need from one central online location,” said Soto.
4. Cost Savings
“I can search for articles in various business publications that might be blocked behind ‘paywalls’ and view the full-text of those articles without paying for individual subscriptions,” he said. “That translates into cost savings for us by reducing the number of publication subscriptions we need each year.”
In the end, the major return on investment for Transwestern has been the huge savings of time their research staff has realized since becoming customers of LexisNexis.