Tag Archives: features

PRO Feature Review: Advanced Search

In OpenComps, easy and intuitive design is on top of our minds. To find something on OpenComps, we have a large search bar persistently on top of every page. It is big, it’s easy, it’s quick. (And did you know that pressing “/” on your keyboard on any screen, brings you inside that search bar? Type “?” (Shift+/) to see all keyboard shortcuts.)

However, this basic search is like shooting with a canon; it searches for the given keywords in all database fields at once. Sometimes to kill the right bird, you need to shoot with a rifle, a more refined and precise instrument. This is where Advanced Search — available to all PRO subscribers — comes into play.

Advanced Search

You can find Advanced Search in the More dropdown at the end of the basic search field. On mobile, it is on the rightmost on the home row of buttons at the bottom of the screen. Or, you can type “a /” (a followed by /) as a keyboard shortcut (because you are a power user!).

Continue reading

OpenComps 3.1 – Non-public contributions on Comps, Public newsfeed, Company Profiles and more

It has not even been a month since we released OpenComps 3.0 and, yet, here we are with another strong update, which we are calling OpenComps 3.1. We cleaned up some bugs and smoothed some features, but we also packed a whole new bag of goodies. Here are the highlights.

Non-Public Contributions on Comps

This is a very important update! Yes, since the beginning of OpenComps (circa 2006) we have strongly believed that the creation and updates on comps should be transparent and accountable. But, we finally decided to look at it through the view point of 2015. Nine years later, we see that people are much more aware of what it means to attach your name to something on the Internet – blog post, Facebook post, tweet, LinkedIn update. And that such association can stay online “forever.” Well, disregarding the over-sharing Facebook friends, as a majority, we believe, we’ve come to understand and appreciate that.

So, with that we would like to enter a new world for OpenComps: going forward new additions or updates/corrections on Comps will be NON-PUBLIC. You will continue to see your footprints around but you won’t be able to see other users’… and they won’t see yours.

Together with the new Points system we introduced (to reward your efforts), we think there is no better time to get active in contributing new and enhancing current comps. Contribute freely!

With that change, it means a lot more diligent editorial oversight will be required of us here at OpenComps. However, it has been our experience over the past nine years that users have been contributing good information and have never inappropriately altered existing comps (never!). We hope this continues! Of course, we have and continue to enhance our tools for data quality monitoring.

To help us with this, we really hope you familiarize yourself with the action toolbar that is available for each transaction:

Transaction Action Toolbar

Whenever you see a transaction that you feel has good info, we would appreciate if you give it a thumbs up. If you see transaction that has bad info, give it a thumbs down. This information will help us zero in on transactions where things may not be going so well so we can take corrective actions.

Also, since your contributions will be non-public now, the only way to publicly claim participation in a transaction is to tag yourself. We hope you do!

Public Newsfeed

With the above update on how we treat Comps contribution, your Activity Stream will no longer contain your additions of comps. But it will contain comps in which you tag yourself as taken part of. And it will continue to contain new on-the-market additions.

We were very encouraged by people’s response to our idea of mashing these user activity streams into one Newsfeed that you can personalize based on who you decide to follow.

But who do you follow? We have given you a few suggestions to get started. And we have a sophisticated yet simple search to find other users. And now we are introducing Public Newsfeed, where you can view the activity streams of all OC users at once. Maybe that’s how you will uncover an interesting user to follow? Or maybe you just like to see the Public stream before you create your own Personal stream? Your choice.

Public Newsfeed

Don’t forget that you can also create Text Posts to the Newsfeed, for when you want to share your thoughts on current transactions or just general thoughts. And now with the Public Newsfeed, you can be sure that someone may uncover your posts even if they haven’t chosen to follow you yet.

Company Profiles

Over the past few years, we have worked a lot on enhancing the creation and display of transactions. We have a lot of work to do to start showing you the Insights from all these information or to further enrich this summary information.

With that goal in mind we have created a brand new Company Profile format whenever you click to see information on a broker, buyer, seller or any entity, really. This new page not only brings together the various activities of an organization (buy-side broker, sell-side broker, buyer or seller), but also includes additional information such as logo, web site address, office location, description and, very importantly, a list of OpenComps users associated with this entity so you can decide to follow them or get in touch.

We are slowing adding more and more enhanced company profiles. Go to Insights and check out the Top Brokers to see their new profiles. If you would like your organization to have an enhanced profile, get in touch. If you want to become the primary user associated with an enhanced profile and thus be able to edit the information displayed on it, get in touch.

HFF Company Profile

We are continuing to enhance the product and we would love to hear from you what you think and what we should do next.

New OpenComps 3

OpenComps 3 – Exciting New Future

We are very excited to announce today the launch of the brand new OpenComps 3. It is a product of over half a year of hard work as well as collaborative thinking and “dreaming” over the last few years. We have continuously talked about the OpenComps’ future we see – personal and social – and we are happy to unveil the final result. The main theme for OpenComps 3 is the further opening of the community that is building around the site. It is a community made of active industry professionals who come to OpenComps to study and understand the commercial real estate market. As our new slogan proclaims, we would like to give you two more reasons to keep visiting: to engage with the market and to connect with other like-minded industry professionals. We really hope you like it and we would love to hear from you. Here are the four major tentpoles we built OpenComps 3 upon.

Personal and Social

To open up the community and, at the same time, to give you a way to personalize your experience on OpenComps, we have enabled a search across the community. When you find a community member that is of interest to you, you can choose to follow their OpenComps activity by “subscribing” to their activity feed. By following other users, you can then build a personal Newsfeed that brings to your attention transactions of interest to you. The Newsfeed currently aggregates users’ activities such as adding a transaction (comp or on-the-market), user tagging on transactions (as a broker, owner or property manager), and, finally, personal messages in the form of Newsfeed posts.

Our vision for the Newsfeed posts is that they bring relevant information to the site’s mission: exchanging information about past transactions and future opportunities in the commercial real estate world. The Newsfeed posts are text messages (up to 255 characters), but we’ve also built some interactive functionality such as hot-linking/referencing an OpenComps’ transaction via a shorthand (enclosed by # on each end, e.g. #123#).

If you are an active participant in the real estate marketplace on the sell side, we hope that the Newsfeed, together with the public posts, will allow you to build a targeted audience with whom you can share your industry activity and insight. Our main goal is to create an OpenComps that is more personal and relevant.

Favorites

Another new way to personalize your OpenComps experience is by quickly and easily selecting transactions as favorites. On any transaction screen, you can now select a transaction as a favorite by starring it. The list of your Favorites can be found in the MyOC section.

Points – Contribute and Receive

OpenComps is a community of users looking to exchange information about real estate transactions. It is not a research company that “sells” such information. We strongly believe in a future where each participant contributes to the volume or quality of the information available within the community. To further encourage the contribution of information, we have created a points system to reward users for contributing new or enhancing existing transactions. Every time you contribute a transaction, we will credit you with points based on the quality/completeness of the information provided. You can then use these points to unlock other transactions. You can go to your Points section in your Profile to monitor your points activity and learn more.

The Market… the Entire Market

OpenComps aims to encompass not only what just happened in the market (i.e. comps) but also what is happening now (on-the-market transactions). As we started with our “Related” tab in each transaction, we would like to build a continuous list of the major milestones of an asset – as it is offered for sale, refinanced or sold. And we would like these milestones to be permanent markers so that one can study the evolution of each property. While we had started on that path previously, we believe that with the new Newsfeed feature, the on-the-market transactions will have a more conducive environment to be presented and promoted to a targeted and engaged audience.

Request Materials

To enable the quick and efficient establishment of a connection and communication between offering and seeking parties for on-the-market transactions, we have created a Request Materials process. With two clicks, an interested party can electronically execute a confidentiality agreement, which can then be reviewed by the offering party. You can monitor the transactions for which you have executed confidentiality agreements in the MyOC section.

Social Networks Sign Up and Sign In

To enhance and improve the process of joining the community, we created a one-click sign up process by inviting you to sign up via your LinkedIn or Google accounts. No need to remember another password for another site. If you already have an OpenComps account, you can connect your LinkedIn or Google accounts by going to your Profile and Edit profile/networks link. Again, that can significantly enhance your ability to quickly sign in to OpenComps.