PropertyFirst.com to Offer Commercial Property Multiple-Listing Service

Taking a page from the residential real estate industry, Alhambra-based PropertyFirst.com will create a multiple-listing service for commercial properties that combines data from competitors.

The company plans a fall launch of its universal listing system, through which commercial property owners and their agents can share information with prospective buyers and tenants over the Internet in a standardized format.

Information on buildings available for lease or sale--previously controlled by property owners and their agents--has to some degree already become available to real estate professionals who sign up with online listing services such as PropertyFirst.com.

However, the online formats for property information haven’t become standardized to the degree seen in the residential business, said PropertyFirst.com President John Stanfill.

With its ULS, PropertyFirst.com aims to provide data free of charge to agents who pay for the company’s other services. Property owners who aren’t regular clients will be charged “a fraction of a penny” monthly for each square foot of space listed as available on the ULS, Stanfill said.

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Bloomberg News was used in compiling this report.