Deal-X, a firm specializing in capturing commercial property transaction data by crowdsourcing information from industry participants has launched in Europe.
Deal-X allows those with knowledge of CRE leasing transactions to exchange that information for details of other deal activity.
The company’s motto of “rewarding knowledge” stems from a belief that market participants should be rewarded for sharing deal information and helping to improve the transparency of commercial real estate leasing markets.
The service has been in beta development for the past 6 months, gathering feedback from the agency, valuation, investment and research professionals that will be able to join the Deal-X platform from today. One key benefit for those using the service is that their details are kept private so that information can be submitted anonymously.
The Deal-X team is being led by Joseph Kelly, a former Real Capital Analytics executive who has brought together an experienced team of international researchers and technology professionals in developing the service. The firm completed an initial fund raising round in October 2014, with a number of senior commercial real estate and financial industry players participating.
Joseph Kelly, Deal-X’s Co-Founder & Research Director, said “The use of collective intelligence and crowd based data in financial services is starting to accelerate, and we believe the commercial real estate industry should be at the forefront of this fintech development. We are here to help market participants value their existing knowledge base and gain access to improved market data in Europe”
In addition to crowd sourcing data, Deal-X is supplementing their database with publically available data sources in Europe, allowing users to access a unique platform for occupational trend analysis.
Deal-X’s Kelly concluded: “Markets across Europe vary greatly in terms of transaction transparency. However, a common trait across all geographies is that those who share deal activity with the aim of improving market transparency have not yet been rewarded sufficiently for doing so”.