Introducing COCIE

CBR levels the playing field for commercial brokers

The result of intense discussion and planning spanning the last three years, the new Central Ohio Commercial Information Exchange (COCIE) provides members with a single comprehensive commercial property database.

In order to adequately market their listings, commercial brokers are currently forced to enter their listings in any combination of five different property listing systems. The new Central Ohio CIE will consolidate the CBR C/I listings and CCIIR listings with the current Xceligent web based property database.

"The primary benefit of the new COCIE is, of course, the creation of one central real estate data source for Central Ohio commercial listings," says Greg Hrabcak, CBR Secretary and member of the CIE Marketing Subcommittee.

"Access is available to CBR members, non-members and developers. Limited access will also be available to utility companies, economic development directors, attorneys, and accountants."

The system is currently up and running under the management of Xceligent. Beginning January 1, 2006, the system will convert to the Central Ohio CIE owned solely by the Columbus Board of REALTORS® and Xceligent will continue as the vendor.

In order to make this work, the C/I listings in the CBR TEMPOTM MLS will be added to the Central Ohio CIE database. Further, the Columbus Commercial Industrial and Investment REALTORS® (CCIIR) will cease to continue operating their current listing database.

"CCIIR fully acknowledges the benefit of having a central commercial property database and supports the creation of the Central Ohio CIE," says CCIIR President Jim Coridan, "Although we're doing away with our current MLS, we will continue to offer networking and education programs designed to meet the needs of the Central Ohio commercial professional."

Property versus Listing database

The primary difference between a property database (the new Central Ohio CIE) and a listing database (i.e. a traditional MLS) is that a property database system includes an inventory of all properties whether listed or not.

The new Central Ohio CIE includes over 9,300 property entries with photos. These include:

office and industrial buildings 5,000 square feet or more
retail centers 10,000 square feet or more (including big boxes)
previously listed land
multi-unit housing properties

Of the 9,300+ properties, roughly 3,100 are listed for sale or lease. Both members of CBR and non-members will be able to enter their listings in the new Central Ohio CIE as well as their own listing photo(s) and attachments. How-ever, only COCIE Participant listings will display on the public access web site.

The other significant difference between a property database and a traditional MLS is the issue of compensation. As a property database, the new Central Ohio CIE will not require an offer of compensation. This issue will need to be negotiated between brokers.

Features & Benefits

In addition to access to over 9,300 commercial properties, the new Central Ohio CIE will offer many features and benefits including:

extensive search capabilities
Set up searches which will email you every day or once a week with new listings that match your criteria.
Historical data (i.e. previous listing information)
Customizable reports
tour packages
maps
both direct lease and sublease availabilities are tracked on a suite level basis.
Buildings for sale are tracked on a 3-day cycle
rigorous quality control program keeps the information accurate and up to date
access to properties in 27 other markets across the nation

Joining the Central Ohio CIE

Membership in the Central Ohio CIE is based on the same principal as CBR membership in that the commercial broker and all licensees must join. However, an exception is made for residential brokers in which case the broker must join and then any residential agents may join as desired.

The monthly cost to become a member of the Central Ohio CIE is $55/month (non CBR member rates will be higher). CBR is currently paying the $50 application fee for REALTORS® who wish to join.

Upgrade features such as aerial photos, tenant information, and direct links from Central Ohio CIE listings back to the broker web site are also available, the cost of which is based on the company size and number of agents participating. For information about joining or taking a training class, contact Catherine Erney at (614) 202-7025 or Angela Utz at (614) 537-0967.

Who will benefit most from the new COCIE?

Commercial brokers & agents - both large and small Commercial agents working in predominantly residential firms
Agents interested in transitioning from residential to commercial
All others in Central Ohio desiring access to commercial real estate property information both locally and throughout the country.
In addition, developers, utility companies, economic development directors, attorneys, and accountants will also benefit from the COCIE property information

COCIE Public Internet Site

The COCIE database shall be accessible through ColumbusRealtors.com and will contain active listing data submitted by Participants only. The site will display partial property listing data as approved by the COCIE Governing Board. Each Participant's consent for display of their listing data is presumed unless request to "opt out" is provided in writing. A Participant that opts out may not display on its public web site (including by framing any other website), the listing of any other COCIE Participant

Cooperation

The filing of information with the COCIE by a Participant acting on behalf of a seller or lessor does not, in and of itself, constitute an offer of cooperation. Any Participant, or licensee with a Participant wishing to cooperate in the marketing of the property must contact the filing Participant to determine the type of cooperation offered, the compensation offered (if any) and the terms and conditions upon which the property being offered may be shown.

Training Classes

In order to participate in COCIE, you will need to take a 3-hour training class. The class, approved for 3 hours of continuing education, will focus on CDX technology and how you can use it to:

search and report on commercial availabilities;
use advanced search techniques such as map search;
produce tour packages for client tours;
send CDX Mails;
add, edit and manage listing inventories

Please sign up early as class size is limited. Cost is $30 if continuing education credit is requested. Click here to find/register for an upcoming class.

Our Vendor - Xceligent

Founded by its CEO Doug Curry in October of 1999, Xceligient is based out of Kansas City, Mo. Using CDX (commercial data exchange) technology, Xceligent launched in Central Ohio in 2002 with the support of several leading local commercial real estate companies and maintains a local presence. As proof of their successful operation,

Xceligent currently has over 80 companies and 400 commercial professionals using the system in Central Ohio. Nationwide, Xceligent provides its services to over 15,000 commercial professionals in 27 different markets.

As a COCIE member, you will also have access to other market information. "One of the reasons I'm so impressed with Xceligent is their willingness to listen," says David Hartsook, Chair of the C/I MLS Committee and CIE Task Force. "They are just as interested in making this the most effective commercial tool as we are. I look forward to the coming months as we see more and more enhancements made from new member suggestions."

Attention Residential REALTORS®

Why is the new Central Ohio CIE a benefit for you? Under the new system, individual residential agents can join the COCIE - if their broker is a participant - without all agents needing to join. This means that, if you occasionally work with commercial real estate or are interested in getting more involved or even transitioning into commercial

real estate, you can become a member of the COCIE, get access to over 9,300 properties and 3,100 listings, and add any of your applicable listings - for the same price as our C/I Section members ($55/month).