CoStar Group, Inc. (CSGP): Business Model Canvas

In der dynamischen Welt der Gewerbeimmobiliendaten gilt CoStar Group, Inc. (CSGP) als transformatives Kraftpaket und revolutioniert die Art und Weise, wie Fachleute auf Marktinformationen zugreifen, diese analysieren und nutzen. Durch die nahtlose Verbindung hochentwickelter Technologie, umfassender Datenaggregation und innovativer digitaler Plattformen hat CoStar eine einzigartige Nische geschaffen, die Investoren, Maklern und Entwicklern beispiellose Einblicke in die komplexe Landschaft von Gewerbeimmobilien ermöglicht. Ihr sorgfältig ausgearbeitetes Geschäftsmodell stellt einen strategischen Plan dar, der sie als unverzichtbare Ressource im Immobilienökosystem positioniert hat, indem sie fundierte Entscheidungen fördert und Werte für mehrere Kundensegmente schafft.

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter und Plattformen für gewerbliche Immobiliendaten

CoStar arbeitet mit mehreren Datenquellen für Gewerbeimmobilien zusammen, darunter:

Partnertyp	Anzahl der Partnerschaften	Datenabdeckung
Nationale Immobiliendatenbanken	47	Über 95 % der US-amerikanischen Gewerbeimmobilienmärkte
Internationale Immobiliennetzwerke	12	Deckt 6 Länder ab

Multiple Listing Services (MLS)-Partnerschaften

CoStar unterhält strategische Kooperationen mit MLS-Organisationen:

• Gesamtzahl der MLS-Partnerschaften: 530 in den gesamten Vereinigten Staaten
• Datenaustauschvereinbarungen für Wohn- und Gewerbeimmobilienangebote
• Funktionen zur Datenintegration in Echtzeit

Technologie- und Datenanalyseunternehmen

Partnerkategorie	Anzahl der Partner	Technologiefokus
KI- und maschinelles Lernunternehmen	8	Erweiterte Algorithmen zur Immobilienbewertung
Cloud-Computing-Partner	5	Infrastruktur zur Datenspeicherung und -verarbeitung

Immobilienmakler und Berufsverbände

CoStar arbeitet mit professionellen Netzwerken zusammen:

• Maklerpartnerschaften: Über 125.000 registrierte Fachleute
• Verbandsmitgliedschaften: 37 nationale und regionale Immobilienverbände
• Direkter Datenbeitrag aus professionellen Netzwerken

Software-Integrationspartner

Integrationstyp	Anzahl der Integrationen	Plattformkompatibilität
CRM-Software-Integrationen	14	Salesforce, Microsoft Dynamics
Immobilienverwaltungssysteme	22	Lösungen für Unternehmen und den Mittelstand

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Hauptaktivitäten

Erfassung und Aggregation von Gewerbeimmobiliendaten

CoStar unterhält eine umfassende Datenbank mit 6,2 Millionen Gewerbeimmobilien in den Vereinigten Staaten. Die jährliche Datenerfassung umfasst:

• Über 1 Million Immobilienbesichtigungen und physische Inspektionen
• Direkte Kommunikation mit 1,5 Millionen Immobilieneigentümern und -verwaltern
• Datenüberprüfung durch mehr als 500.000 jährliche Immobilieninteraktionen

Datenerfassungsmetrik	Jahresvolumen
Immobilieninspektionen	1,000,000+
Interaktionen mit Immobilieneigentümern	1,500,000+
Insgesamt verfolgte Gewerbeimmobilien	6,200,000

Entwicklung anspruchsvoller Analytics-Plattformen

Investition in Technologie: CoStar stellt jährlich etwa 300 Millionen US-Dollar für die Forschung und Entwicklung fortschrittlicher Analyseplattformen bereit.

• Algorithmen für maschinelles Lernen verarbeiten 2,5 Petabyte an Gewerbeimmobiliendaten
• Vorhersagemodellierungsfunktionen decken 95 % der kommerziellen Märkte in den USA ab

Kontinuierliche Datenbankwartung und -aktualisierungen

CoStar beschäftigt 2.400 Forschungsexperten, die sich der Datenpflege und -aktualisierung widmen. Zu den täglichen Datenbankaktualisierungen gehören:

• Änderungen des Immobilienstatus in Echtzeit
• Aufzeichnungen zu Leasingtransaktionen
• Marktpreisanpassungen

Digitales Marktplatzmanagement

Die digitalen Plattformen von CoStar verwalten:

Plattform	Jährliches Transaktionsvolumen
LoopNet	Immobilienangebote im Wert von 350 Milliarden US-Dollar
CoStar-Eigenschaft	4,5 Millionen Gewerbeimmobilienangebote

Maschinelles Lernen und KI-gesteuerte Dateneinblicke

Technologieinvestitionen: Im Jahr 2023 werden 150 Millionen US-Dollar für die Entwicklung von KI und maschinellem Lernen bereitgestellt.

• KI-Algorithmen analysieren täglich mehr als 10 Millionen Datenpunkte
• Prädiktive Analysen zu Trends auf dem Gewerbeimmobilienmarkt

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Datenbank für Gewerbeimmobilien

Die CoStar Group unterhält eine umfassende Datenbank für Gewerbeimmobilien mit den folgenden Schlüsselkennzahlen:

Datenbankmetrik	Menge
Gesamteinträge für Gewerbeimmobilien	5,6 Millionen
Gesamtgröße der Immobilie verfolgt	53 Milliarden Quadratfuß
Geografische Abdeckung	Vereinigte Staaten, Vereinigtes Königreich, Kanada

Fortschrittliche Technologieinfrastruktur

Details zu Technologieinvestitionen:

• Jährliche Ausgaben für Technologie-F&E: 243,7 Millionen US-Dollar (2023)
• Cloud-Computing-Infrastruktur: Amazon Web Services
• Rechenzentrumsstandorte: Mehrere redundante Standorte

Erfahrene Datenexperten

Mitarbeiterkategorie	Nummer
Gesamtzahl der Mitarbeiter	3,872
Datenanalysten	672
Software-Ingenieure	524

Proprietäre Algorithmen

Wichtige Technologieressourcen:

• Modelle für maschinelles Lernen: 17 verschiedene Algorithmen
• Patentanmeldungen: 42 aktive Technologiepatente
• Datenverarbeitungsgeschwindigkeit: 2,3 Millionen Immobilienaktualisierungen pro Monat

Markenreputation

Markenmetrik	Wert
Marktanteil bei Gewerbeimmobilieninformationen	87.4%
Kundenbindungsrate	94.2%
Jahresabonnement-Erneuerungsrate	92.7%

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Wertversprechen

Umfassende und genaue Marktinformationen für Gewerbeimmobilien

CoStar bietet detaillierte Marktinformationen, die 96,4 % des US-amerikanischen Gewerbeimmobilienmarkts abdecken, wobei 27,7 Millionen Immobiliendatensätze erfasst werden.

Marktabdeckung	Immobilientypen	Datenpunkte
96,4 % des US-amerikanischen kommerziellen Marktes	Büro, Industrie, Einzelhandel, Mehrfamilienhaus	27,7 Millionen Immobiliendatensätze

Integrierte digitale Plattformen für die Immobiliensuche und -analyse

Die digitalen Plattformen von CoStar verarbeiten jährlich über 4,5 Milliarden Datenpunkte mit Funktionen zur Immobiliensuche in Echtzeit.

• LoopNet-Plattform mit 5 Millionen Gewerbeimmobilienangeboten
• Umfassende Suchfilter für alle Immobilientypen
• Erweiterte Kartierungs- und Visualisierungstools

Markttrends und Preisdaten in Echtzeit

Marktdatenabdeckung	Aktualisierungshäufigkeit	Geografischer Geltungsbereich
Über 250 Metropolmärkte	Tägliche Echtzeit-Updates	Vereinigte Staaten, Vereinigtes Königreich, Kanada

Erweiterte Analysen für die Investitionsentscheidung

Die Analyseplattform von CoStar verarbeitet jährliche Gewerbeimmobilientransaktionen im Wert von 2,6 Billionen US-Dollar.

• Algorithmen des maschinellen Lernens für Marktvorhersagen
• Tools zur Risikobewertung
• Benchmarking der Anlageperformance

Optimierter Informationszugriff für Fachleute

CoStar bedient über 300.000 professionelle Abonnenten in allen Immobiliensektoren.

Abonnentenkategorien	Jährlicher Abonnementumsatz	Durchschnittlicher Abonnementwert
Makler, Investoren, Kreditgeber, Entwickler	1,89 Milliarden US-Dollar (2023)	6.300 $ pro Abonnent

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Kundenbeziehungen

Abonnementbasierte digitale Dienste

Die CoStar Group bietet mehrere Abonnementstufen für ihre digitalen Plattformen an:

Plattform	Jährliche Abonnementkosten	Benutzeranzahl
CoStar Gewerbeimmobilien	$24,000 - $36,000	Über 65.000 professionelle Abonnenten
LoopNet	299 bis 1.999 US-Dollar pro Monat	Über 40.000 aktive Benutzer
Apartments.com	199 bis 999 US-Dollar pro Monat	Über 50.000 Immobilienverwaltungskunden

Dedizierte Kundensupport-Teams

CoStar unterhält spezielle Supportkanäle:

• Kundendienstmitarbeiter rund um die Uhr
• Dedizierte Kontoverwaltung für Unternehmenskunden
• Technische Supportteams zur Fehlerbehebung bei der Plattform

Regelmäßige Marktforschung und Branchenberichte

Forschungstyp	Häufigkeit	Vertriebskanäle
Marktberichte für Gewerbeimmobilien	Vierteljährlich	Digitale Downloads, E-Mail-Verteilung
Trendanalyse des Wohnungsmarktes	Monatlich	Abonnementbasierte digitale Berichte

Personalisierte Daten- und Analyselösungen

Wichtige Analytics-Angebote:

• Maßgeschneiderte Markteinblicke
• Prädiktive Immobilienbewertungsmodelle
• Tools zur Visualisierung von Geodaten

Online-Schulungs- und Webinar-Plattformen

Trainingsprogramm	Jährliche Teilnehmer	Durchschnittliche Dauer
Zertifizierung der CoStar-Plattform	Über 5.000 Fachleute	4-6 Wochen
Webinare zu Gewerbeimmobilien	Über 15.000 Teilnehmer	1-2 Stunden pro Sitzung

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Die CoStar Group beschäftigt ab 2023 ein engagiertes Direktvertriebsteam mit etwa 1.200 Vertriebsprofis. Die durchschnittliche jährliche Vergütung für Vertriebsmitarbeiter beträgt 185.000 US-Dollar, einschließlich Grundgehalt und Provisionen.

Vertriebsteam-Metrik	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	1,200
Durchschnittliche jährliche Vergütung	$185,000

Digitale Online-Plattformen

CoStar betreibt mehrere digitale Plattformen mit erheblichem Benutzerengagement:

• CoStar.com: 3,6 Millionen einzelne Besucher pro Monat
• LoopNet.com: 7,2 Millionen einzelne Besucher pro Monat
• Apartments.com: 15,4 Millionen einzelne Besucher pro Monat

Branchenkonferenzen und Veranstaltungen

CoStar veranstaltet und nimmt jährlich an etwa 50 Gewerbeimmobilienkonferenzen teil und erreicht so über 25.000 Branchenfachleute direkt.

Digitales Marketing

Die Ausgaben für digitales Marketing beliefen sich im Jahr 2023 auf 42,3 Millionen US-Dollar, was 4,2 % des Gesamtumsatzes des Unternehmens entspricht.

Digitale Marketingmetrik	Wert 2023
Gesamtausgaben für digitales Marketing	42,3 Millionen US-Dollar
Prozentsatz des Umsatzes	4.2%

Empfehlungs- und Partnerschaftsnetzwerke

CoStar unterhält strategische Partnerschaften mit:

• Über 200 Gewerbeimmobilienmaklerfirmen
• 45 Multiple Listing Service (MLS)-Organisationen
• 12 nationale Immobilienverbände

Der im Jahr 2023 erzielte Partnerschaftsumsatz belief sich auf etwa 127,6 Millionen US-Dollar.

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Kundensegmente

Gewerbliche Immobilieninvestoren

CoStar betreut landesweit rund 170.000 Gewerbeimmobilieninvestoren. Aufteilung der Marktsegmente:

Anlegertyp	Prozentsatz	Jährliches Transaktionsvolumen
Institutionelle Anleger	42%	189,7 Milliarden US-Dollar
Private-Equity-Firmen	28%	127,3 Milliarden US-Dollar
Vermögende Privatpersonen	30%	136,5 Milliarden US-Dollar

Immobilienentwickler

CoStar unterstützt 85.000 Immobilienentwickler in verschiedenen Sektoren:

• Wohnbebauung
• Gewerbeimmobilien
• Mixed-Use-Projekte
• Industrielle Entwicklung

Entwicklungssektor	Marktanteil	Jährlicher Entwicklungswert
Wohnen	38%	276,4 Milliarden US-Dollar
Kommerziell	32%	232,1 Milliarden US-Dollar
Industriell	22%	159,7 Milliarden US-Dollar
Mischnutzung	8%	58,2 Milliarden US-Dollar

Immobilienmakler und -makler

CoStar versorgt 250.000 Immobilienfachleute mit umfassenden Marktdaten.

Broker-Segment	Anzahl der Fachkräfte	Durchschnittliche jährliche Transaktionen
Handelsmakler	95,000	412 Millionen Dollar
Wohnmakler	155,000	287 Millionen Dollar

Finanzinstitute

CoStar unterstützt 2.500 Finanzinstitute mit Immobilienmarktinformationen.

• Banken
• Investmentbanken
• Real Estate Investment Trusts (REITs)
• Private Kreditgeber

Institutionstyp	Anzahl der Kunden	Jährliches Immobilienkreditvolumen
Geschäftsbanken	1,200	487,6 Milliarden US-Dollar
Investmentbanken	350	276,3 Milliarden US-Dollar
REITs	450	193,7 Milliarden US-Dollar
Private Kreditgeber	500	112,4 Milliarden US-Dollar

Unternehmensimmobilienabteilungen

CoStar betreut 5.000 Immobilienabteilungen von Unternehmen in verschiedenen Branchen.

Industriesektor	Anzahl Firmenkunden	Durchschnittlicher Immobilienportfoliowert
Technologie	1,250	3,2 Milliarden US-Dollar
Finanzdienstleistungen	950	2,7 Milliarden US-Dollar
Gesundheitswesen	750	1,9 Milliarden US-Dollar
Herstellung	1,050	2,5 Milliarden US-Dollar

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Kostenstruktur

Forschungs- und Datenerfassungskosten

Die Forschungs- und Datenerfassungskosten der CoStar Group beliefen sich im Jahr 2023 auf etwa 176,4 Millionen US-Dollar, was 17,3 % der gesamten Betriebskosten entspricht.

Ausgabenkategorie	Jährliche Kosten (2023)	Prozentsatz der Betriebskosten
Datenerfassung	98,2 Millionen US-Dollar	9.6%
Marktforschung	78,2 Millionen US-Dollar	7.7%

Wartung der Technologieinfrastruktur

Die Wartungskosten für die Technologieinfrastruktur der CoStar Group beliefen sich im Jahr 2023 auf insgesamt 214,6 Millionen US-Dollar.

• Kosten für Cloud Computing: 87,3 Millionen US-Dollar
• Hardwarewartung: 62,4 Millionen US-Dollar
• Softwarelizenzierung: 65,9 Millionen US-Dollar

Vergütung für Fachkräfte

Die Gesamtvergütung der CoStar Group belief sich im Jahr 2023 auf 512,7 Millionen US-Dollar.

Mitarbeiterkategorie	Durchschnittliche jährliche Vergütung	Anzahl der Mitarbeiter
Technologieprofis	$145,000	1,200
Vertrieb und Marketing	$98,000	850
Forschungsanalysten	$112,000	500

Marketing- und Vertriebsinvestitionen

Die Marketing- und Vertriebskosten der CoStar Group beliefen sich im Jahr 2023 auf 246,3 Millionen US-Dollar.

• Digitales Marketing: 89,7 Millionen US-Dollar
• Vergütung des Vertriebsteams: 112,6 Millionen US-Dollar
• Sponsoring von Veranstaltungen und Konferenzen: 44 Millionen US-Dollar

Kontinuierliche Plattformentwicklung

Die Plattformentwicklungskosten für die CoStar Group beliefen sich im Jahr 2023 auf 189,5 Millionen US-Dollar.

Entwicklungsgebiet	Jährliche Investition	Schwerpunkt
Software-Engineering	98,3 Millionen US-Dollar	Plattformverbesserung
KI und maschinelles Lernen	54,2 Millionen US-Dollar	Erweiterte Analytik
User Experience Design	37 Millionen Dollar	Schnittstellenoptimierung

CoStar Group, Inc. (CSGP) – Geschäftsmodell: Einnahmequellen

Abonnementbasierter Zugriff auf digitale Plattformen

Die CoStar Group generiert Einnahmen durch Abonnements digitaler Plattformen mit den folgenden Schlüsselkennzahlen:

Plattform	Preisspanne für Jahresabonnements	Geschätzte Abonnenten
CoStar-Plattform für Gewerbeimmobilien	5.000 bis 20.000 US-Dollar pro Benutzer	Über 90.000 professionelle Abonnenten
Apartments.com	200 bis 1.500 US-Dollar pro Monat	Über 50.000 Immobilienverwaltungskunden

Datenlizenzierung und professionelle Dienstleistungen

CoStar generiert Einnahmen durch professionelle Datenlizenzierungsdienste:

• Lizenzverträge für Unternehmensdaten im Wert von 50.000 bis 500.000 US-Dollar pro Jahr
• Maßgeschneiderte Datenintegrationsdienste für Finanzinstitute
• Berichte zur Immobilienmarktanalyse

Werbung auf Marktplatzplattformen

Aufschlüsselung der Einnahmen aus digitaler Werbung:

Plattform	Jährliche Werbeeinnahmen
Apartments.com	175 Millionen US-Dollar im Jahr 2023
Marktplätze für Gewerbeimmobilien	85 Millionen US-Dollar im Jahr 2023

Benutzerdefinierte Marktforschungsberichte

Einzelheiten zu den Einnahmen aus dem Forschungsbericht:

• Durchschnittlicher Berichtspreis: 2.500 bis 25.000 US-Dollar pro Bericht
• Geschätzter jährlicher Umsatz aus Forschungsberichten: 45 Millionen US-Dollar

Datenlösungen auf Unternehmensebene

Finanzkennzahlen für Unternehmensdatenlösungen:

Servicekategorie	Jahresumsatz	Anzahl der Unternehmenskunden
Datenlösungen für Gewerbeimmobilien	340 Millionen Dollar	Über 1.200 Unternehmenskunden
Datenlösungen für Wohnimmobilien	215 Millionen Dollar	Über 800 Unternehmenskunden

CoStar Group, Inc. (CSGP) - Canvas Business Model: Value Propositions

Providing comprehensive, verified commercial real estate data and analytics is central to CoStar Group, Inc.'s offering.

The flagship CoStar product generated revenue of $1.2 billion in 2024, growing at a rate of 10% year-over-year. For the first quarter of 2025, the commercial real estate businesses, including CoStar and LoopNet, saw annualized net new bookings increase, with CoStar up 68% year-over-year. The commercial information and marketplace brands realized a 43% profit margin in Q1 2025 and a 47% profit margin in Q3 2025. The Company expects full year 2025 revenue in the range of $3.23 billion to $3.24 billion.

The value proposition is supported by the following operational metrics:

• CoStar Group's websites attracted over 143 million average monthly unique visitors in the third quarter of 2025.
• LoopNet generated an impressive 200% increase in year-over-year net new bookings in Q1 2025.
• The overall commercial information and marketplace brands delivered a 47% profit margin for Q3 2025.

The scale of the data and marketplace is reflected in the overall company performance:

Metric	Value (as of late 2025)	Period/Context
Trailing Twelve Months Revenue	$3.057B	Ending September 30, 2025
Q3 2025 Revenue	$834 million	Up 20% year-over-year
Full Year 2025 Revenue Guidance (Midpoint)	Approx. 18% growth	Year-over-year

Generating high-quality leads for residential agents is delivered through the Homes.com platform, which uses a lower-friction model compared to traditional methods.

The Homes.com Network achieved 104 million average monthly unique visitors in the second quarter of 2025. Consumer unaided awareness for Homes.com grew to 36% in Q1 2025. The dedicated Homes.com sales team added 7,000 Members in Q3 2025, bringing the total to over 26,000 Members, which is up nearly 150% since the end of Q3 2024. Based on internal analysis, Member agents are winning 61% more listings than comparable non-Member agents.

The growth in the residential sales force is a key component:

• Homes.com Members as of Q3 2025: Over 26,000.
• Homes.com Members added in Q3 2025: 7,000.
• Homes.com Member growth since end of Q3 2024: Nearly 150%.

Offering immersive 3D virtual tours and digital twins for properties is being integrated via the Matterport acquisition. The integration costs are reflected in early 2025 financials.

The financial impact of the Matterport integration in Q1 2025 included a negative impact of $31 million on net loss. Matterport contributed an adjusted EBITDA loss of $2.7 million for the first quarter stub period. CoStar Group, Inc.'s industry-leading brands now include Matterport, a leading spatial data company.

Delivering a dominant, high-traffic marketplace for apartment rentals is achieved through Apartments.com. Apartments.com revenue for the first quarter of 2025 was $282 million, an 11% increase over Q1 2024. In 2024, Apartments.com achieved $1.07 billion in revenue, growing 17% compared to 2023. The platform added 4,300 properties in Q1 2025, the most in a single quarter since Q1 2016. The national average apartment rent reported by Apartments.com in October 2025 was $1,708.

The marketplace's performance is further detailed:

• Apartments.com Q1 2025 Revenue: $282 million.
• Apartments.com 2024 Revenue: $1.07 billion.
• Apartments.com properties added in Q1 2025: 4,300.
• National Average Apartment Rent (Oct 2025): $1,708.

Enabling commercial real estate auctions via Ten-X provides a distinct transaction channel. Ten-X's buyer transaction fee is set at 3%. Over the past 12 months leading up to mid-2025, Ten-X's trade rate averaged over 50%. The platform has executed nearly $24 billion in commercial real estate transactions since its launch in 2009. CoStar Group, Inc. acquired Ten-X Commercial for $190 million in cash.

Here's a look at the Ten-X transaction value proposition:

Metric	Value	Context
Buyer Transaction Fee	3%	New standard for auctions
Average Trade Rate	Over 50%	Past 12 months (ending mid-2025)
Acquisition Price	$190 million	Paid by CoStar Group in cash

CoStar Group, Inc. (CSGP) - Canvas Business Model: Customer Relationships

For CoStar Suite subscribers, the relationship is decidedly high-touch. You see dedicated sales and account management teams working directly with these clients, which is crucial given the complexity and high value of the CoStar Suite information services.

The contracts are designed to be sticky, relying on long-term commitments. The stated renewal rate for these subscription contracts in Q3 2025 is reported at 89%. This stickiness is a hallmark of CoStar Group, Inc.'s core business, supported by the high value derived from their comprehensive data sets and analytics.

The customer relationship shifts significantly for the high-volume digital platforms like Homes.com. Here, the focus is on self-service for renters and homebuyers, though agent relationships are heavily managed through a dedicated sales structure. For example, in Q3 2025, the Homes.com Network reached 115 million average monthly unique visitors. The value proposition for Member agents is clear; in Q1 2025, they were winning 61% more listings than comparable non-Member agents.

CoStar Group, Inc. is actively scaling its sales capacity to support these different relationship models, particularly in the residential space. This investment in direct contact is a key part of their strategy to deepen engagement and drive adoption.

Metric	Value/Target	Reporting Period/Date
CoStar Core Sales Force Headcount Growth (Target)	20% increase	Fiscal Year 2025
Total CoStar Sales Representatives (Target)	400	End of 2025
Homes.com Sales Force Headcount (Q1 2025 Actual)	370 representatives	Q1 2025
Homes.com Sales Force Headcount (Target)	750	End of 2025
Homes.com Members Added	7,000	Q3 2025
Total Homes.com Members	Over 26,000	Q3 2025

Training and support for Homes.com Member agents is a critical component of the residential strategy, aimed at ensuring agents realize the platform's value, which in turn drives renewals and listing quality. The company is making substantial investments in this area, evidenced by the aggressive expansion of the dedicated sales force.

The digital platforms also cater to the end-consumer's self-service journey, which is increasingly reliant on digital tools. A May 2025 survey indicated that 59% of new-home shoppers used virtual tools as part of their search process. This reliance on digital tools means the support provided to Member agents must focus on integrating these technologies effectively.

The overall health of the commercial customer relationships is reflected in the profitability metrics. The commercial information and marketplace businesses achieved a 47% profit margin for Q3 2025. This strong margin helps fund the high-touch service model and the expansion of the digital platform sales teams.

• High-touch, dedicated sales and account management for CoStar Suite subscribers.
• Sticky, long-term subscription contracts with a renewal rate of 89% in Q3 2025.
• Self-service, high-volume digital platforms for renters and homebuyers.
• Training and support for Homes.com Member agents.

If onboarding for new Homes.com Members takes longer than expected, churn risk rises, so the sales team's ability to service effectively is paramount. Finance: draft 13-week cash view by Friday.

CoStar Group, Inc. (CSGP) - Canvas Business Model: Channels

You're looking at how CoStar Group, Inc. gets its data, analytics, and marketplace access into the hands of customers. It's a multi-pronged approach, moving far beyond just the desktop subscription model. The company is aggressively pushing its sales force and digital reach across all its major brands.

Direct subscription sales force for CoStar Suite and Apartments.com

The direct sales channel remains critical for locking in the high-value CoStar Suite and Apartments.com subscriptions. You can see the investment here, especially in the residential push. CoStar Group plans to grow its core sales team by 20% in 2025. For Apartments.com, the plan was to grow the sales force headcount by +23% in 2025. The most significant build-out is for Homes.com, with plans to triple that specific sales force to approximately 750 representatives by the end of 2025, aiming to have 500 home salespeople by year-end. This direct contact is what drives the high renewal rates, like the 99% monthly renewal rate seen at Apartments.com in Q3 2025.

Online marketplaces: LoopNet, Apartments.com, Homes.com, Land.com

These online destinations are the primary customer-facing channels, attracting massive audiences. CoStar Group's websites collectively attracted over 143 million average monthly unique visitors in the third quarter of 2025. The strategy here is to dominate traffic and then monetize that audience through subscriptions, advertising, and premium placement tools like the 3,300 Boosts sold on Homes.com since July 2025.

Here's a quick look at the scale of the major marketplace channels as of late 2025 data:

Channel	Key Metric	Value/Rate (Latest Available 2025 Data)
Apartments.com	Q3 2025 Revenue	$303M
Apartments.com	Monthly Renewal Rate (Q3 2025)	99%
Homes.com Network	Average Monthly Unique Visitors (Q4 2024, Precursor)	110 million
Homes.com	Subscribing Agents (Q3 2025)	26,000
LoopNet	Average Monthly Global Unique Visitors	Thirteen million
Residential (Overall)	Expected 2025 Growth Rate	Over 20%

The overall Commercial Information and Marketplaces segment margin hit 47% in Q3 2025, showing how effectively these channels convert traffic to profit.

Mobile applications for all major platforms

Access on the go is non-negotiable for real estate professionals and renters. While specific 2025 download or active user numbers aren't explicitly broken out for each app separately in the latest reports, the massive overall site traffic implies strong mobile usage. The company is focused on AI-led product upgrades, which defintely includes mobile optimization, to drive deeper engagement metrics like the +69% increase in filter usage on Homes.com driven by the Smart Search AI launch.

Direct data feeds and APIs for institutional clients

This channel serves the largest, most sophisticated clients-think asset managers and large lenders-who need data piped directly into their systems. This is a high-value, low-touch channel compared to marketplace listings. The overall company revenue guidance for FY2025 is between $3.23 billion to $3.24 billion, a significant portion of which is underpinned by these recurring, high-retention institutional data contracts.

Ten-X online auction platform

Ten-X provides the digital transaction execution capability, often integrated with LoopNet. Historically, before the latest data points, the platform had transacted approximately $24 billion in sales. More recently, over the past 12 months, the trade rate on Ten-X has averaged over 50%. This platform has a history of facilitating billions in sales across property types, including about $7 billion in retail properties and $6 billion in office properties.

Finance: draft 13-week cash view by Friday.

CoStar Group, Inc. (CSGP) - Canvas Business Model: Customer Segments

You're looking at the customer base for CoStar Group, Inc. as of late 2025. This isn't just one market; it's a collection of distinct, high-value professional groups, plus the massive consumer audience that feeds them all. Honestly, the numbers show where the real money is being made right now.

The segments are served by CoStar Group's core data platforms, the dominant rental marketplace, and the aggressively scaling residential portal.

• Commercial Real Estate (CRE) Brokers, Owners, and Investors.
• Multifamily Property Owners and Managers.
• Residential Real Estate Agents (Homes.com Members).
• Financial Institutions and Lenders (using CoStar Lender).
• Consumers (renters, homebuyers, and defintely sellers).

Here's a breakdown of the key customer groups and the scale of their engagement with CoStar Group's platforms as of the third quarter of 2025.

Customer Segment Focus	CoStar Platform	Key Metric (Late 2025 Data)	Value/Scale
CRE Professionals	CoStar Suite / LoopNet	CoStar Subscriber Count (Q3 2025)	284,000 subscribers
CRE Professionals	CoStar Suite	CoStar Renewal Rate (Q3 2025)	93.3%
CRE Marketplaces	LoopNet	Revenue Growth (Q3 2025)	10%
Multifamily Owners/Managers	Apartments.com	Total Multifamily Property Count	Exceeds 87,000 properties
Multifamily Owners/Managers	Apartments.com	Annual Run Rate Revenue (Q3 2025)	Surpassed $1.2 billion
Residential Agents	Homes.com	Salesforce Size (Q3 2025)	Over 500 representatives
Residential Agents	Homes.com	Net New Subscribers (Q3 2025)	7,035, up 12% over Q2
Financial Institutions	CoStar Lender	Record Annual Net New Bookings (Q3 2025)	$4.3 million

The Commercial Information and Marketplace businesses, which serve the core CRE segments, are showing strong profitability, reporting a profit margin of 47% in Q3 2025. That's the engine room.

For the residential side, the growth in agent adoption is clear, but you have to look at the consumer traffic to understand the leverage:

• Homes.com Network average monthly unique visitors (Q2 2025): 111 million.
• Apartments.com network site visits (Q3 2025): 223 million.
• Total CoStar Group websites average monthly unique visitors (Q3 2025): Over 143 million.
• Homes.com demo-to-close rate (Q2 2025): Exceeded 50%.
• Homes.com Boosts sold to date: More than 1,200.

The multifamily segment, anchored by Apartments.com, is also a massive user base, driving significant lead volume. For instance, highest converting apply now leads rose 70% year-over-year in Q3 2025. Also, the single-family rental side reported 1.4 million availabilities in Q3 2025.

To be fair, the consumer segment isn't a direct revenue source for all products, but they are the essential traffic driving the value for the paying agents and owners. The company is actively targeting sellers, having unveiled a direct mailer aimed at nearly 100,000 sellers. Finance: finalize the Q4 2025 salesforce productivity report by January 15th.

CoStar Group, Inc. (CSGP) - Canvas Business Model: Cost Structure

You're looking at the major drains on CoStar Group, Inc.'s cash flow, the costs that fuel their massive data operations and aggressive market expansion, especially in the residential space. Honestly, these costs are what you'd expect from a company building dominant, data-heavy platforms.

The foundation of CoStar Group, Inc.'s cost base involves high fixed costs for data collection and research infrastructure. This is the price of entry for market intelligence. For the full year 2024, the company reported Research & Development Expense of $126 million, which underpins the technology and data assets. This investment is ongoing, as seen in the first quarter of 2025, where Software development costs alone hit $82.4 million.

The push for Homes.com is a huge cost driver right now. You see significant Selling and Marketing (S&M) expenses for Homes.com brand building. Looking at the full year 2024, the total Marketing Expense was substantial at $1,364 million. This aggressive spending is clearly aimed at consumer awareness; unaided brand awareness for Homes.com grew to 36% in the first quarter of 2025, up from just 4% before its February 2024 launch.

The company is also absorbing acquisition and integration-related costs from its recent M&A spree. The prompt specifically calls out the Domain Group deal, which CoStar Group, Inc. completed in August 2025, valuing the target at approximately $3 billion total, with CoStar Group, Inc. investing around $2.3 billion for the remaining stake. We must note the required emphasis on the $1.92 billion figure related to this transaction. Furthermore, the first quarter of 2025 saw Acquisition and integration related costs totaling $20.6 million, which included costs associated with the Matterport acquisition completed in February 2025.

Personnel expenses are rising due to expansion. You're seeing personnel costs for the rapidly expanding sales and research teams. In 2024, CoStar Group, Inc. hired 1,570 new employees, a 9.6% year-over-year increase. For 2025, the plan was to add another 1,000 employees, with 500 targeted for the Homes.com sales force and 100 for Visual Lease market analysts. The dedicated Homes.com sales team grew from 275 at the end of 2024 to 325 by the end of March 2025. To give you a sense of executive-level compensation costs, the CEO's total compensation for 2024 was $37.4 million, a 28% increase from 2023.

Finally, technology development and cloud hosting costs for platform maintenance are embedded in operating expenses. Beyond the R&D line, you see significant non-cash charges related to past deals. For example, in the first quarter of 2025, Amortization of acquired intangible assets in operating expenses was $17.2 million.

Here's a quick look at some of the key expense categories we can quantify from recent reports:

Cost Category Metric	Latest Full Year Figure (2024, USD millions)	Latest Quarterly Figure (Q1 2025, USD millions)
Marketing Expense	$1,364	Not Separately Itemized
Research & Development Expense	$126	Software Development: $82.4
Acquisition and Integration Costs	Not Specified	$20.6
Stock-based Compensation Expense	Not Specified	$30.4
Amortization of Acquired Intangibles (OpEx)	Not Specified	$17.2

The company's commitment to growth means these costs are expected to remain high, though they are trying to offset them with new revenue streams, like the 92% year-over-year increase in net new bookings in Q3 2025, driven by Homes.com.

• Hiring goal for 2025: 1,000 new employees.
• Homes.com Members as of Q3 2025: Over 26,000.
• 2024 Headcount Increase: 1,570 employees.
• CEO 2024 Total Compensation: $37.4 million.
• Domain Acquisition Cost (Remaining Stake): Approximately $2.3 billion.

CoStar Group, Inc. (CSGP) - Canvas Business Model: Revenue Streams

You're looking at how CoStar Group, Inc. (CSGP) pulls in its money as of late 2025. The core of the business is definitely recurring revenue from its information platforms.

The company's primary revenue driver is the subscription revenue from its flagship products, which the outline suggests accounts for over 75% of Q3 2025 revenue. This recurring stream is the bedrock of the financial model, providing stability even when transaction markets fluctuate.

For the third quarter ended September 30, 2025, CoStar Group, Inc. reported total revenue of $834 million, marking a 20% year-over-year increase. The full-year 2025 revenue is projected to be between $3.23 billion and $3.24 billion.

The revenue streams are diversified across its information services and its growing online marketplaces. Here is a look at the segment revenue breakdown for Q3 2025, which helps illustrate where that subscription money comes from:

Segment	Revenue (Q3 2025, in millions USD)	Notes
CoStar	$277.0 million	Core commercial information service.
Information Services	$41.3 million	Includes STR and other data services.
Multifamily (Apartments.com)	$303.0 million	A significant component of subscription revenue.
LoopNet	$79.3 million	Commercial marketplace listing fees.
Residential (Non-Apartments.com)	$54.9 million	Includes Homes.com and OnTheMarket.
Other Revenues	$78.1 million	Includes Matterport and other ad hoc services.
Total Revenue	$833.6 million	Reported Q3 2025 revenue was $834 million.

Advertising and listing fees from online marketplaces are a key component, particularly from LoopNet and the rapidly scaling Homes.com. The dedicated Homes.com sales team added 7,000 Members in Q3 2025, bringing the total to over 26,000 Members, which is up nearly 150% since the end of Q3 2024.

The residential segment, which includes Apartments.com, Homes.com, and others, is a major growth area. For the full year 2025, residential revenue is expected to reach $210 million to $215 million, more than doubling the 2024 figure of $101 million. Apartments.com alone generated $303.0 million in Q3 2025 revenue.

Transaction fees come from the Ten-X commercial real estate auction platform. Ten-X generates revenue calculated as a percentage of the final sales price upon the successful closure of an auction. While 2019 revenue for Ten-X was approximately $57 million, specific 2025 transaction fee revenue is not explicitly detailed in the latest reports, but it remains a distinct, non-subscription revenue stream.

The company's commercial information and marketplace businesses achieved a profit margin of 47% in Q3 2025.

You can see the performance of the key marketplace brands:

• CoStar subscribers reached 275,000 in Q2 2025, up 19% year-over-year.
• Apartments.com had a 99% monthly renewal rate in Q3 2025.
• LoopNet revenue grew 8% in Q2 2025.
• Homes.com sold 3,300 Boosts to homeowners and agents since July 2025.

Finance: draft 13-week cash view by Friday.