A Commercial Information Exchange (CIE) is an Internet-based commercial property listing service that is operated by a local association to serve the local market. A CIE is the commercial real estate equivalent of the residential Multiple Listing Service. CIE's help commercial real estate professionals (brokers, property owners, developers, investors, tenants, etc.) share information about commercial property, recent sale or lease transactions, market statistics, and contacts.
CIE's tend to exist in larger markets with a more developed, more organized commercial real estate industry. There are approximately 100 CIE's in the United States. CIE's vary in scope, serving cities, states, or larger regions. They also vary in function, depending on the depth and breadth of data in a particular market.
The Commercial Real Estate Network (CREN) is a commercial information exchange which includes:
- business opportunities
- land and ranch
- office space
- subdivided vacant land
Differences from Residential Multiple Listing Service
There are two key differences between a Commercial Information Exchange and a Multiple Listing Service. CIE participants need not have an exclusive right to sell or lease a property in order to list it on a CIE, and CIE listings need not include details on compensation for cooperating parties.
As a property database, a CIE does not require an offer of compensation. This issue will need to be negotiated between brokers. The filing of information with the CIE by a Participant acting on behalf of a seller or lessor does not, in and of itself, constitute an offer of cooperation. Any Participant, or licensee with a Participant wishing to cooperate in the marketing of the property must contact the filing Participant to determine the type of cooperation offered, the compensation offered (if any) and the terms and conditions upon which the property being offered may be shown.
For a listing of CIE's around the country go to: http://www.realtor.org/cominfex.nsf