Costar Group, Inc. (CSGP): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos dados imobiliários comerciais, o Costar Group, Inc. (CSGP) permanece como uma potência transformadora, revolucionando como os profissionais acessam, analisam e alavancam a inteligência de mercado. Ao misturar perfeitamente tecnologia sofisticada, agregação abrangente de dados e plataformas digitais inovadoras, a Costar criou um nicho único que capacita investidores, corretores e desenvolvedores com insights sem precedentes sobre a complexa paisagem de propriedades comerciais. Seu modelo de negócios meticulosamente criado representa um plano estratégico que os posicionou como um recurso indispensável no ecossistema imobiliário, impulsionando a tomada de decisão informada e criando valor em vários segmentos de clientes.

Costar Group, Inc. (CSGP) - Modelo de negócios: Parcerias -chave

Provedores e plataformas de dados imobiliários comerciais

A Costar faz parceria com várias fontes de dados imobiliários comerciais, incluindo:

Tipo de parceiro	Número de parcerias	Cobertura de dados
Bancos de dados nacionais de imóveis	47	Mais de 95% dos mercados de propriedades comerciais dos EUA
Redes imobiliárias internacionais	12	Cobrindo 6 países

Várias parcerias de serviços de listagem (MLS)

A Costar mantém colaborações estratégicas com organizações da MLS:

• Total de parcerias da MLS: 530 nos Estados Unidos
• Acordos de troca de dados que cobrem listagens de propriedades residenciais e comerciais
• Capacidades de integração de dados em tempo real

Empresas de tecnologia e análise de dados

Categoria de parceiro	Número de parceiros	Foco em tecnologia
AI e empresas de aprendizado de máquina	8	Algoritmos avançados de avaliação de propriedades
Parceiros de computação em nuvem	5	Infraestrutura de armazenamento e processamento de dados

Corretores imobiliários e associações profissionais

O Costar colabora com redes profissionais:

• Parcerias de corretor: mais de 125.000 profissionais registrados
• Associações de associações: 37 Associações Imobiliárias Nacionais e Regionais
• Contribuição direta de dados de redes profissionais

Parceiros de integração de software

Tipo de integração	Número de integrações	Compatibilidade da plataforma
Integrações de software CRM	14	Salesforce, Microsoft Dynamics
Sistemas de gerenciamento de propriedades	22	Soluções corporativas e de mercado intermediário

Costar Group, Inc. (CSGP) - Modelo de negócios: Atividades -chave

Coleta e agregação de dados imobiliários comerciais

A Costar mantém um banco de dados abrangente de 6,2 milhões de propriedades imobiliárias comerciais nos Estados Unidos. A coleta anual de dados envolve:

• Mais de 1 milhão de visitas a propriedades e inspeções físicas
• Comunicação direta com 1,5 milhão de proprietários e gerentes
• Verificação de dados através de mais de 500.000 interações anuais de propriedades anuais

Métrica de coleta de dados	Volume anual
Inspeções de propriedades	1,000,000+
Interações do proprietário da propriedade	1,500,000+
Propriedades comerciais totais rastreadas	6,200,000

Desenvolvimento de plataformas sofisticadas de análise

Investimento em tecnologia: A Costar aloca aproximadamente US $ 300 milhões anualmente para a pesquisa e o desenvolvimento de plataformas de análise avançada.

• Algoritmos de aprendizado de máquina Processando 2.5 Petabytes de dados comerciais imobiliários
• Recursos de modelagem preditivos, cobrindo 95% dos mercados comerciais dos EUA

Manutenção contínua de banco de dados e atualizações

A Costar emprega 2.400 profissionais de pesquisa dedicados à manutenção e atualização de dados. As atualizações diárias de banco de dados incluem:

• Mudanças de status de propriedade em tempo real
• Registros de transação de arrendamento
• Ajustes de preços de mercado

Gerenciamento de mercado digital

As plataformas digitais da Costar gerenciam:

Plataforma	Volume anual de transações
Loopnet	US $ 350 bilhões em listagens de propriedades
Propriedade de Costar	4,5 milhões de listagens de propriedades comerciais

Aprendizado de máquina e informações de dados acionadas pela IA

Investimento em tecnologia: US $ 150 milhões alocados à IA e desenvolvimento de aprendizado de máquina em 2023.

• Algoritmos de IA analisando mais de 10 milhões de pontos de dados por dia
• Análise preditiva que cobre tendências comerciais do mercado imobiliário

Costar Group, Inc. (CSGP) - Modelo de negócios: Recursos -chave

Extenso banco de dados imobiliário comercial

O Costar Group mantém um banco de dados de imóveis comerciais abrangentes com as seguintes métricas -chave:

Métrica do banco de dados	Quantidade
Listagens de propriedades comerciais totais	5,6 milhões
Tamanho total da propriedade rastreada	53 bilhões de pés quadrados
Cobertura geográfica	Estados Unidos, Reino Unido, Canadá

Infraestrutura de tecnologia avançada

Detalhes de investimento em tecnologia:

• Gastos anuais em P&D de tecnologia: US $ 243,7 milhões (2023)
• Infraestrutura de computação em nuvem: Amazon Web Services
• Locais de data center: vários sites redundantes

Profissionais de dados qualificados

Categoria de funcionários	Número
Total de funcionários	3,872
Analistas de dados	672
Engenheiros de software	524

Algoritmos proprietários

Principais ativos de tecnologia:

• Modelos de aprendizado de máquina: 17 algoritmos distintos
• Aplicações de patentes: 42 patentes de tecnologia ativa
• Velocidade de processamento de dados: 2,3 milhões de atualizações de propriedades por mês

Reputação da marca

Métrica da marca	Valor
Participação de mercado em informações comerciais imobiliárias	87.4%
Taxa de retenção de clientes	94.2%
Taxa anual de renovação de assinatura	92.7%

Costar Group, Inc. (CSGP) - Modelo de negócios: proposições de valor

Inteligência de mercado imobiliário comercial abrangente e precisa

A Costar fornece inteligência de mercado detalhada, cobrindo 96,4% do mercado imobiliário comercial dos EUA, com 27,7 milhões de registros de propriedade rastreados.

Cobertura de mercado	Tipos de propriedades	Pontos de dados
96,4% do mercado comercial dos EUA	Escritório, industrial, varejo, multifamiliar	27,7 milhões de registros de propriedade

Plataformas digitais integradas para pesquisa e análise de propriedades

As plataformas digitais da Costar processam mais de 4,5 bilhões de pontos de dados anualmente com recursos de pesquisa de propriedades em tempo real.

• Plataforma Loopnet com 5 milhões de listagens de propriedades comerciais
• Filtros de pesquisa abrangentes nos tipos de propriedades
• Ferramentas avançadas de mapeamento e visualização

Tendências de mercado em tempo real e dados de preços

Cobertura de dados de mercado	Atualizar frequência	Escopo geográfico
250+ mercados metropolitanos	Atualizações diárias em tempo real	Estados Unidos, Reino Unido, Canadá

Análise avançada para tomada de decisão de investimento

A plataforma de análise da Costar processa US $ 2,6 trilhões em transações imobiliárias comerciais anuais.

• Algoritmos de aprendizado de máquina para previsões de mercado
• Ferramentas de avaliação de risco
• Benchmarking de desempenho de investimento

Acesso a informações simplificadas para profissionais

A Costar atende a mais de 300.000 assinantes profissionais em setores imobiliários.

Categorias de assinantes	Receita anual de assinatura	Valor médio de assinatura
Corretores, investidores, credores, desenvolvedores	US $ 1,89 bilhão (2023)	US $ 6.300 por assinante

Costar Group, Inc. (CSGP) - Modelo de negócios: relacionamentos com o cliente

Serviços digitais baseados em assinatura

O Costar Group oferece várias camadas de assinatura para suas plataformas digitais:

Plataforma	Custo anual de assinatura	Contagem de usuários
Imóveis comerciais de costar	$24,000 - $36,000	65.000 mais de assinantes profissionais
Loopnet	$ 299 - US $ 1.999 por mês	Mais de 40.000 usuários ativos
Apartamentos.com	$ 199 - $ 999 por mês	Mais de 50.000 clientes de gerenciamento de propriedades

Equipes de suporte ao cliente dedicados

A Costar mantém canais de suporte especializados:

• REPRESENTANTES DE ATENHO DO CLIENTE 24/7
• Gerenciamento de conta dedicado para clientes corporativos
• Equipes de suporte técnico para solução de problemas de plataforma

Pesquisa de mercado regular e relatórios do setor

Tipo de pesquisa	Freqüência	Canais de distribuição
Relatórios de mercado imobiliário comercial	Trimestral	Downloads digitais, distribuição de email
Análise de tendências do mercado de apartamentos	Mensal	Relatórios digitais baseados em assinatura

Dados personalizados e soluções de análise

Ofertas de análise -chave:

• Insights de mercado personalizados
• Modelos de avaliação de propriedade preditiva
• Ferramentas de visualização de dados geoespaciais

Plataformas de treinamento on -line e webinar

Programa de Treinamento	Participantes anuais	Duração média
Certificação da plataforma Costar	Mais de 5.000 profissionais	4-6 semanas
Webinars imobiliários comerciais	Mais de 15.000 participantes	1-2 horas por sessão

Costar Group, Inc. (CSGP) - Modelo de negócios: canais

Equipe de vendas diretas

O Costar Group emprega uma equipe de vendas direta dedicada com aproximadamente 1.200 profissionais de vendas a partir de 2023. A compensação média anual de vendas é de US $ 185.000, incluindo salário e comissões base.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	1,200
Compensação média anual	$185,000

Plataformas digitais online

A Costar opera várias plataformas digitais com engajamento significativo do usuário:

• Costar.com: 3,6 milhões de visitantes únicos mensais
• Loopnet.com: 7,2 milhões de visitantes únicos mensais
• Apartamentos.com: 15,4 milhões de visitantes únicos mensais

Conferências e eventos do setor

A Costar hospeda e participa de aproximadamente 50 conferências imobiliárias comerciais anualmente, atingindo diretamente mais de 25.000 profissionais do setor.

Marketing digital

As despesas de marketing digital para 2023 foram de US $ 42,3 milhões, representando 4,2% da receita total da empresa.

Métrica de marketing digital	2023 valor
Gastos de marketing digital total	US $ 42,3 milhões
Porcentagem de receita	4.2%

Redes de referência e parceria

A Costar mantém parcerias estratégicas com:

• Mais de 200 corretor imobiliário comercial
• 45 Organizações de Serviço de Listagem Múltiplas (MLS)
• 12 associações imobiliárias nacionais

A receita de parceria gerada em 2023 foi de aproximadamente US $ 127,6 milhões.

Costar Group, Inc. (CSGP) - Modelo de negócios: segmentos de clientes

Investidores imobiliários comerciais

A Costar atende a aproximadamente 170.000 investidores imobiliários comerciais em todo o país. Redução do segmento de mercado:

Tipo de investidor	Percentagem	Volume anual de transações
Investidores institucionais	42%	US $ 189,7 bilhões
Empresas de private equity	28%	US $ 127,3 bilhões
Indivíduos de alto patrimônio líquido	30%	US $ 136,5 bilhões

Promotores de propriedades

A Costar suporta 85.000 promotores imobiliários em vários setores:

• Desenvolvimento residencial
• Imóveis comerciais
• Projetos de uso misto
• Desenvolvimento industrial

Setor de desenvolvimento	Quota de mercado	Valor anual do desenvolvimento
residencial	38%	US $ 276,4 bilhões
Comercial	32%	US $ 232,1 bilhões
Industrial	22%	US $ 159,7 bilhões
Uso misto	8%	US $ 58,2 bilhões

Corretores e agentes imobiliários

A Costar atende a 250.000 profissionais imobiliários com dados abrangentes do mercado.

Segmento de corretor	Número de profissionais	Transações anuais médias
Corretores comerciais	95,000	US $ 412 milhões
Corretores residenciais	155,000	US $ 287 milhões

Instituições financeiras

A Costar suporta 2.500 instituições financeiras com inteligência de mercado imobiliário.

• Bancos
• Bancos de investimento
• Funcionários de investimento imobiliário (REITs)
• Credores particulares

Tipo de instituição	Número de clientes	Volume anual de empréstimos imobiliários
Bancos comerciais	1,200	US $ 487,6 bilhões
Bancos de investimento	350	US $ 276,3 bilhões
REITS	450	US $ 193,7 bilhões
Credores particulares	500	US $ 112,4 bilhões

Departamentos imobiliários corporativos

A Costar atende a 5.000 departamentos imobiliários corporativos em vários setores.

Setor da indústria	Número de clientes corporativos	Valor médio do portfólio imobiliário
Tecnologia	1,250	US $ 3,2 bilhões
Serviços financeiros	950	US $ 2,7 bilhões
Assistência médica	750	US $ 1,9 bilhão
Fabricação	1,050	US $ 2,5 bilhões

Costar Group, Inc. (CSGP) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e coleta de dados

Os custos de pesquisa e coleta de dados do Grupo Costar em 2023 foram de aproximadamente US $ 176,4 milhões, representando 17,3% do total de despesas operacionais.

Categoria de despesa	Custo anual (2023)	Porcentagem de despesas operacionais
Coleta de dados	US $ 98,2 milhões	9.6%
Pesquisa de mercado	US $ 78,2 milhões	7.7%

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica para o Grupo de Costar em 2023 totalizaram US $ 214,6 milhões.

• Despesas de computação em nuvem: US $ 87,3 milhões
• Manutenção de hardware: US $ 62,4 milhões
• Licenciamento de software: US $ 65,9 milhões

Compensação da força de trabalho qualificada

A compensação total da força de trabalho para o Grupo de Costar em 2023 foi de US $ 512,7 milhões.

Categoria de funcionários	Compensação média anual	Número de funcionários
Profissionais de tecnologia	$145,000	1,200
Vendas e marketing	$98,000	850
Analistas de pesquisa	$112,000	500

Investimentos de marketing e vendas

As despesas de marketing e vendas do Grupo de Costar em 2023 atingiram US $ 246,3 milhões.

• Marketing Digital: US $ 89,7 milhões
• Compensação da equipe de vendas: US $ 112,6 milhões
• Patrocínios de eventos e conferências: US $ 44 milhões

Desenvolvimento contínuo da plataforma

Os custos de desenvolvimento de plataformas do Grupo de Costar em 2023 foram de US $ 189,5 milhões.

Área de desenvolvimento	Investimento anual	Foco principal
Engenharia de software	US $ 98,3 milhões	Aprimoramento da plataforma
AI e aprendizado de máquina	US $ 54,2 milhões	Análise avançada
Design da experiência do usuário	US $ 37 milhões	Otimização da interface

Costar Group, Inc. (CSGP) - Modelo de negócios: fluxos de receita

Acesso à plataforma digital baseada em assinatura

O Costar Group gera receita através de assinaturas de plataforma digital com as seguintes métricas principais:

Plataforma	Faixa de preço de assinatura anual	Assinantes estimados
Plataforma de imóveis comerciais de costar	US $ 5.000 - US $ 20.000 por usuário	90.000 mais de assinantes profissionais
Apartamentos.com	$ 200 - US $ 1.500 por mês	Mais de 50.000 clientes de gerenciamento de propriedades

Licenciamento de dados e serviços profissionais

O Costar gera receita por meio de serviços profissionais de licenciamento de dados:

• Contratos de licenciamento de dados corporativos avaliados entre US $ 50.000 e US $ 500.000 anualmente
• Serviços de integração de dados personalizados para instituições financeiras
• Relatórios de análise de mercado imobiliário

Publicidade em plataformas de mercado

Recutação de receita de publicidade digital:

Plataforma	Receita anual de publicidade
Apartamentos.com	US $ 175 milhões em 2023
Mercados imobiliários comerciais	US $ 85 milhões em 2023

Relatórios de pesquisa de mercado personalizados

Relatório de pesquisa Detalhes da receita:

• Preço médio de relatório: US $ 2.500 - US $ 25.000 por relatório
• Receita estimada de pesquisa anual de pesquisa: US $ 45 milhões

Soluções de dados no nível da empresa

Métricas financeiras da solução de dados corporativos:

Categoria de serviço	Receita anual	Número de clientes corporativos
Soluções de dados imobiliários comerciais	US $ 340 milhões	1.200 mais clientes corporativos
Soluções de dados imobiliários residenciais	US $ 215 milhões	800+ clientes corporativos

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.