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Andy Florance

Founder & Chief Executive Officer

CoStar Group

Washington, DC, USA

Andy Florance

Family Fortune Financial LLC

Andy Florance’s Biography

Andy Florance is the Founder & Chief Executive Officer of CoStar Group. He also serves on the firm’s Board of Directors. Headquartered in Washington, D.C., CoStar Group has offices in 15 countries around the world and a staff of more than 5,500 globally.

Founded in 1986, CoStar Group quickly found itself at the forefront of transforming how commercial real estate professionals access, use and share information. Andrew pioneered the concept of commercial real estate firms outsourcing research and analysis functions to a third-party information provider, leading CoStar to become the industry’s first independent research firm.

Leading the firm since its days as a startup, Andy has guided CoStar Group from its IPO in 1998 to its recent listing on the S&P 500 and the NASDAQ 100 Index. He has continually been recognized as an innovative executive, leading to numerous honors, including Forbes' Most Innovative Leaders, SP 200’s top industry leaders and Commercial Observer's 30 Most Powerful People in Commercial Real Estate Proptech. In addition, CoStar has been named one of Forbes Fast... Andy Florance is the Founder & Chief Executive Officer of CoStar Group. He also serves on the firm’s Board of Directors. Headquartered in Washington, D.C., CoStar Group has offices in 15 countries around the world and a staff of more than 5,500 globally.

Founded in 1986, CoStar Group quickly found itself at the forefront of transforming how commercial real estate professionals access, use and share information. Andrew pioneered the concept of commercial real estate firms outsourcing research and analysis functions to a third-party information provider, leading CoStar to become the industry’s first independent research firm.

Leading the firm since its days as a startup, Andy has guided CoStar Group from its IPO in 1998 to its recent listing on the S&P 500 and the NASDAQ 100 Index. He has continually been recognized as an innovative executive, leading to numerous honors, including Forbes' Most Innovative Leaders, SP 200’s top industry leaders and Commercial Observer's 30 Most Powerful People in Commercial Real Estate Proptech. In addition, CoStar has been named one of Forbes Fast Tech 25 and Fortune magazine’s 100 Fastest Growing Companies. Central to CoStar’s growth is its investments in industry leading companies, such as online commercial real estate marketplace, LoopNet, Apartments.com, Homes.com and data benchmarking and analytics company, STR.

Andy is an active board member, with a focus on professional advancement and education. He serves on the board of Management Leaders for Tomorrow, a nonprofit transforming leadership channels by preparing Black, Latinx and Native American talent to secure high-growth positions. He has also served on the boards of many schools in the D.C. area, as well as Children’s National Health System and the National Building Museum.

Andy earned a BA in Economics from Princeton University and was awarded an honorary doctorate from Virginia Commonwealth University. more less

Andy Florance’s Newsfeed

Businesswire

CoStar Group Founder and CEO Andy Florance Named to Commercial Observer’s Power 100 List

Andy Florance, CoStar Group's Founder and CEO, has been named by Commercial Observer as one of the hundred most influential commercial real estate executives in the industry.

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Housing Wire

Andy Florance discusses Matterport acquisition, lead diversion portal models

Hours after the CoStar Group announced the acquisition of Matterport, CEO Andy Florance appeared at the annual conference of HousingWire and shared his thoughts on the announcement.

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Andy Florance’s Background

CoStar Group

Founder & Chief Executive Officer

May 1986 - Present

Washington, DC, USA

CoStar Group, Inc. is the leading provider of commercial real estate information, analytics and online marketplaces. CoStar conducts thorough, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information.

Andy Florance’s Gallery

Board Positions

CoStar Group

Board of Directors

Washington, DC, USA

CoStar Group, Inc. is the leading provider of commercial real estate information, analytics and online marketplaces.

Management Leadership of Tomorrow

Governing Board

Jan 2017 - Present

Washington, DC, USA

Launched in 2002 Management Leadership for Tomorrow (MLT) is a national nonprofit that is transforming the leadership pipelines of more than 120 leading organizations by driving breakthrough results for individuals and institutions.

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Previous Board Positions

St. Albans School

Board of Trustees

2015 - 2018

Washington, DC, USA

St. Albans School is a private, all boys day and boarding school. For more than a century, it has offered a distinctive educational experience for young men in grades 4 through 12.

Children's National

Board of Directors

2014 - Jun 2017

Washington, DC, USA

Children's National Hospital has innovated pediatric healthcare around the US and world for more than 150 years. Serving the nation's children, the hospital is one of the top 10 pediatric hospitals in the United States.

Walker & Dunlop

Board of Directors

2013 - 2016

Bethesda, MD, USA

Walker & Dunlop's platform helps people build their business. From its top-ranked base in multifamily lending, it has built robust capital markets and investment sales capabilities.

Beauvoir, the National Cathedral Elementary School

Board of Trustees

2010 - 2016

Washington, DC, USA

Beauvoir provides an extraordinary early childhood education in a diverse community that values every individual. Beauvoir’s program encourages creative, courageous learners and builds an enduring foundation for a lifelong spirit of inquiry and joy in learning.

Shakespeare Theatre Company

Board of Trustees

2008 - 2015

Washington, DC, USA

Shakespeare Theatre Company creates, preserves, and promotes classic theatre — ambitious, enduring plays with universal themes — for all audiences.

American Real Estate Society

Board of Directors

2005 - 2015

Athens, OH, USA

The American Real Estate Society (ARES), founded in 1985, is an association of real estate thought leaders. Members are drawn from academia and the profession at large, both in the United States and internationally.

National Building Museum

Board of Trustees

2009 - 2014

Washington, DC, USA

The National Building Museum educates, entertains, and engages people about the built environment and challenges them to advocate for a sustainable and equitable future.

Ford's Theatre

Board of Trustees

2007 - 2011

Washington, DC, USA

The site of President Abraham Lincoln's assassination, Ford's Theatre in Washington, D.C., offers museum exhibits, live theatre performances and immersive educational programs.

St. Andrews School

Board of Trustees

2003 - 2009

Middletown, DE, USA

Since its founding in 1929, St. Andrew’s has been a school affordable to all students who are qualified for admission, regardless of their financial means.

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Media

Andy Florance: Zillow isn't ready for post-commission portal revolution

Oct 2023

In the opening remarks of CoStar Group's Q3 earnings call, Andy Florance discussed the company's plan to make Homes.com the portal of the future.

CoStar Group Partners with Richmond Public Schools to Provide School Supplies for More than 35,000 Students

Aug 2023

New York, NY, USA

“As the one of the largest employers in Richmond, CoStar Group is thrilled to continue to invest in the Richmond community through providing students in need with the tools they need to thrive,” said Andy Florance. "We’re excited to be able to help set the groundwork for academic success as students return to school this Fall.”

Costar Group’s Andy Florance Wins Gold Stevie® Award In 2023 International Business Awards®

Aug 2023

New York, NY, USA

Andy Florance was named the winner of a Gold Stevie® Award in the Executive of the Year – Real Estate category. He was also honored with a Silver Stevie® Award in the Best Entrepreneur – Real Estate category.

In The News: CEO Exchange Presenter Andy Florance Hints at Costar Expansion

Jun 2023

During a one-on-one chat with RISMedia Founder and CEO John Featherston at RISMedia’s upcoming CEO & Leadership Exchange in September, Florance will discuss CoStar’s future in the residential space and how data is becoming the cornerstone of success in the competitive landscape moving forward.

CoStar Group Named to 20th Anniversary Edition of Forbes Global 2000

Jun 2023

New York, NY, USA

The annual list highlights the world’s largest companies based on their global impact and financial strength. “This award is a reflection of the hard work and dedication of our team to provide innovative products and services that enhance and support our clients’ business goals," said Andy Florance.

CoStar lands naming rights for Virginia Commonwealth University campus building with $18M donation

May 2023

The project, tentatively to be named the CoStar Center for Arts and Innovation, will consolidate VCU’s nationally recognized School of the Arts, ranked fourth in the country among graduate programs, and innovation programs under one roof for the first time.

Andy Florance: "CoStar is not going to change its business model to get a portion of the commission"

Dec 2022

Andy Florance discusses recent developments at CoStar and, among other topics, the real estate portal, Homes.com, and the company's role as a residential real estate portal player in the United States.

What’s Behind the New Homes.Com: Andy Florance Gets Down to Brass Tacks

Dec 2022

After acquiring Homesnap in 2020 and Homes.com in 2021, Andy Florance discusses the relaunch of a new and improved Homes.com and other significant developments at the CoStar Group.

CoStar Group Selected by NASDAQ for 100 Index®

Dec 2022

New York, NY, USA

CoStar Group announced that the company will be added to the NASDAQ 100 Index®, effective prior to the opening of trading on Monday, December 19, 2022.

CoStar Group hosts ground-breaking ceremony for $460 million expansion project

Nov 2022

Richmond, VA, USA

The CoStar Group is expanding its research and technology center with office space built next to its office space located on Fifth Street in Richmond. City and state leaders gathered for the groundbreaking.

CoStar Group Plans $460 Million Campus Expansion in Richmond

Dec 2021

Washington, DC, USA

CoStar Group plans to expand its research and technology center in Richmond, investing $460 million to build a two-building complex to create a corporate campus that's expected to bring 2,000 new jobs to the banks of the James River.

CoStar Group CEO calls on graduates to ‘turn adversity into strength’

May 2019

Richmond, VA, USA

Andy Florance, CEO & founder of CoStar Group, challenged graduates to turn adversity into strength at Virginia Commonwealth University’s main commencement ceremony at the Greater Richmond Convention Center.

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Interviews

When things get tough, people tend to invest more market in their real estate, says CoStar CEO

Nov 2023

New York, NY, USA

Andy Florance joins ‘Squawk Box’ from the Baron Investment Conference to discuss why Baron’s been bullish on the company since his first investment in 2001, the state of the real estate market, commercial real state trends and more.

CoStar Group CEO on commercial REIT weakness, office vacancy and residential market

Jul 2023

New York, NY, USA

Andy Florance, CoStar Group CEO, joins ‘Closing Bell: Overtime’ to discuss company earnings, commercial REITs impact on business.

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Publications

Leading the Way in Sustainability at CoStar Group’s Richmond Campus

Article

Jul 2024

Andy shares nine highlights of the incredible sustainability initiatives at CoStar Group’s thriving Richmond campus where the business is raising the bar when it comes to environonmental responsibility and employee well-being.

Andy Florance | Articles

Author

Andy writes about a wide range of topics related to CoStar Group and the real estate industry. This includes recent market trends, industry analysis, tools for real estate professionals and more.

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Memberships

Meridian International Center

Member

Washington, DC, USA

Meridian is a nonpartisan, nonprofit diplomacy center that links leaders through culture and collaboration to drive global solutions.

Awards & Recognition

Inman Power Players

Honoree

Jan 2024

The 2024 Inman Power Players includes an impressive list of executives and founders — each of whom has the ability to play a key role in shaping the future of the residential real estate industry.

Swanepoel Power 200

Honoree

Jan 2024

The Swanepoel Power 200 ranks the most powerful leaders in the residential real estate brokerage industry. Andy Florance was honored for his continued success leading CoStar Group, notably the acquisition and growth of Homes.com.

Meet The Ten who defined 2023

Honoree

Dec 2023

Real Estate News has selected the top newsmakers in a year shaped by trials and resilience in the face of epic challenges and opportunities. Andy Florance was honored for his work leading CoStar Group and the company's acquisition of and growth plans for Homes.com.

Inman Best of Proptech Award

Best of Proptech Award | Entrepreneurs

2023

Inman celebrates the entrepreneurs, VCs, and visionaries that are building the future in the world of property technology (Proptech). The Best of Proptech Awards recognize the achievements of trailblazers and innovators in the real estate community.

Commercial Observer | Power Proptech List

Honoree

2023

New York, NY, USA

The annual Commercial Observer Power Proptech list recognizes the most influential companies and people in the CRE proptech space who are driving change and innovation within the industry.

Globee Business Awards

Gold Globee Award | CEO of the Year

2023

The Globee Business Awards recognize exceptional leadership across all aspects of business, honoring remarkable achievements and groundbreaking strategies employed by individuals and organizations worldwide. Andy was also recognized in 2022 with a Gold Globee Award for Visionary Leader of The Year and Silver Globee Award as CEO of CoStar Group.

20th Annual International Business Awards®

Executive of the Year & Best Entrepreneur | Real Estate

2023

The Stevie® Awards are the world's premier business awards. They were created to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. Andy Florance was honored with a Gold Stevie® Award for Executive of the Year and Best Entrepreneur award in the Real Estate category.

DC’s 2023 Tech Titans

Honoree

2023

Washington, DC, USA

The Washingtonian's list includes the most important and innovative leaders in DC’s tech scene. CoStar Group and its founder & CEO, Andy Florance, are honored for their continued success, which includes a forthcoming research-and-tech campus in Richmond.

Power 100

Honoree

2023

New York, NY, USA

The Power 100 list, published annually, recognizes the most impactful figures in the commercial real estate industry and highlights the companies and figures adapting and innovating in the rapidly evolving CRE space.

RISMedia Newsmakers

Honoree | Futurist

2023

New York, NY, USA

The RISMedia Real Estate Newsmakers lists spotlights the industry’s most dynamic individuals for their accomplishments and contributions to their companies, colleagues and clients, and to the larger cause of expanding homeownership.

The Swanepoel Power 200

Honoree

2023

New York, NY, USA

The Swanepoel Power 200 ranks the most powerful leaders in the residential real estate brokerage industry. Criteria used include the scope and power of leaders’ positions, financial resources at their disposal, their trajectory and much more.

Inman Power Players Awards

Honoree

2023

The Inman Power Players awards honor the most influential figures across the residential real estate space and represent the pinnacle of industry success.

The 30 Most Powerful People in Commercial Real Estate Proptech

Honoree

2022

New York, NY, USA

Commercial Observer's list recognizes a range of leaders in the industry from real estate firms to major landlords and brokerages.

Virginia Commonwealth University

Doctor of Humane Letters

2022

Richmond, VA, USA

The Honorary Doctor of Humane Letters, VCU’s highest form of recognition, acknowledges outstanding contributions to society through scholarship, humanitarianism, science, art and public service.

America's Most Innovative Leaders

Honoree

2019

New York, NY, USA

The methodology of Most Innovative Leaders list is built upon four essential leadership qualities of top founders and CEOs: media reputation for innovation, social connections, track record for value creation and investor expectations for value creation.

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Training & Management Courses

Harvard Business School

Corporate Governance Program

1999

Cambridge, MA, USA

The Making Corporate Boards More Effective program helps participants gain a deeper understanding of the board's responsibilities in areas such as finance, strategy, executive compensation and compliance.

MIT | Center for Real Estate

Real Estate Capital Markets

1997

Cambridge, MA, USA

MIT’s Center for Real Estate (CRE) investigates the real estate practice and transaction from initial concept to market realization.

Speaking Engagements

Inman Connect Las Vegas

Speaker

Jul 2024

Las Vegas, NV, USA

Andy will be a Speaker at Inman Connect Las Vegas Real Estate Conference, sharing his thoughts as an industry leader.

Andy Florance | 30th Annual Baron Investment Conference

Featured Speaker

Dec 2023

New York, NY, USA

The Conference convenes Baron's portfolio managers, analysts, and special guests to share their insights into the current market environment, their investment thinking, and potential growth investment opportunities in 2024. In his presentation, Andy Florance discussed CoStar Group's recent activities, including the acquisition of Homes.com, the digitization of the real estate industry, and more.

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Community Engagement

Protestant Episcopal Cathedral Foundation

Board of Trustees

Washington, DC, USA

Founded in 1893, the Protestant Episcopal Cathedral Foundation (PECF) was chartered by Congress over 100 years ago to promote the causes of religion, education and charity.

Press Releases

CoStar Group Completes Acquisition of OnTheMarket.com With Overwhelming 97% Shareholder Support

Dec 2023

New York, NY, USA

Andy Florance said: “Today’s announcement gives us the opportunity to combine a leading UK agent friendly site with our technology, expertise, and capital to raise the game for online home shopping in the UK."

CoStar Group Signs Science Based Targets Initiative (SBTi) Commitment for Emissions Reduction

May 2023

SBTi is a joint initiative of environmental impact tracking organization CDP, the United Nations Global Compact, World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF). “At CoStar Group we are proud of our commitments to reducing our environmental impact, and this is one of the pillars of our ESG goals,” said Andy Florance, Founder & CEO. "

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Andy Florance’s Education

Virginia Commonwealth University

Doctor of Humane Letters

Princeton University

B.A. | Economics