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Real Estate · head to head

ARGUS Enterprise vs MRI Software

ARGUS Enterprise logo

ARGUS Enterprise

Real Estate

Cash flow forecasting and valuation software for commercial real estate, the industry-standard modelling tool now sold by Altus Group with no published price

From
On request
Rated
-
Full reviewWebsite
MRI Software logo

MRI Software

Real Estate

Open real estate platform assembled from acquisitions, strong in different products in different countries

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: ARGUS Enterprise pricing is entirely unpublished and quoted per user, making it hard to budget for a growing team without an ongoing sales relationship with Altus Group.; MRI Software the portfolio grew by acquisition, so products overlap, interfaces are inconsistent between lines, and moving from one MRI product to another is a migration rather than a configuration change.
  • They diverge on capability: ARGUS Enterprise covers DCF valuation, MRI Software covers Commercial lease accounting.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which ARGUS Enterprise and MRI Software actually diverge.

Attributes where ARGUS Enterprise and MRI Software differ
AttributeARGUS EnterpriseMRI Software
PlatformsWindows, WebWeb, iOS, Android, Windows

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Real Estate).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in ARGUS Enterprise

  • DCF valuation
  • Traditional capitalisation methods
  • Lease-by-lease analysis
  • Portfolio budgeting
  • ARGUS Intelligence
  • ARGUS file interoperability

Only in MRI Software

  • Commercial lease accounting
  • Residential property management
  • Investment management
  • Facilities management
  • Open partner ecosystem
  • Regional product lines

What people use each for

The jobs each tool is most often brought in to do.

ARGUS Enterprise

  • An institutional investor needing DCF valuations in the ARGUS file format lenders and counterparties expectnot MRI Software
  • An appraiser producing defensible, industry-standard valuation reports for institutional clientsnot MRI Software
  • A REIT or investment manager running portfolio-wide budget and scenario comparisons across propertiesnot MRI Software
  • A CRE professional pursuing ARGUS Software Certification as a recognised credential for career progressionnot MRI Software

MRI Software

  • A commercial landlord that needs CAM reconciliation and investor reporting under one ledger across multiple ownership structuresnot ARGUS Enterprise
  • A United Kingdom or Australian agency or social housing provider where the acquired regional product is the market standardnot ARGUS Enterprise
  • A corporate occupier with lease accounting obligations that need auditable treatment across hundreds of leasesnot ARGUS Enterprise
  • An enterprise that wants to keep an existing accounting or CRM system and connect it rather than replace itnot ARGUS Enterprise

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

ARGUS Enterprise

  • Pricing is entirely unpublished and quoted per user, making it hard to budget for a growing team without an ongoing sales relationship with Altus Group.
  • Because the ARGUS file format is the institutional standard, firms are effectively locked into the platform to participate fully in institutional deal flow, regardless of whether a cheaper tool would otherwise serve them.
  • The interface and modelling workflow have a steep learning curve, which is precisely why the ARGUS Software Certification exists as a distinct, paid credentialing track.
  • Altus Group also owns Reonomy, a CRE data product, which means a firm buying both ARGUS and Reonomy is concentrating spend with a single vendor across valuation and data.
  • It is a modelling and valuation tool, not a data source; a firm still needs separate market data (CoStar, Reonomy or similar) to populate the assumptions ARGUS models run on.

MRI Software

  • The portfolio grew by acquisition, so products overlap, interfaces are inconsistent between lines, and moving from one MRI product to another is a migration rather than a configuration change.
  • Which product is strong depends on the country: the Australian and New Zealand agency products came from Rockend and Palace, the United Kingdom commercial strength came from Qube, and a reference from one region tells you very little about another.
  • Pricing is quoted, modular and multi-year, so the number that gets a deal approved usually omits connectors, additional modules and the implementation, and the real total arrives later.
  • Implementations take months and need external consultants, which means the cost of ownership includes a services relationship you cannot avoid.
  • Support experience varies by acquired product line, so the service level a reference customer describes may come from a different team than the one that will handle your product.

Pricing, plan by plan

ARGUS Enterprise

On request
  • ARGUS Enterprise$undefined/year
    • No published pricing, quote required from Altus Group
    • Licensed per user, typically annual subscription
    • ARGUS Intelligence and certification training priced separately

MRI Software

On request
  • MRI Software$undefined/year
    • Quoted per module and per unit or per user
    • Multi-year subscription terms
    • Implementation and data migration charged separately

Which should you pick?

Choose ARGUS Enterprise if

  • You need dcf valuation.
  • You work on Windows, Web.
  • You also want traditional capitalisation methods.
ARGUS Enterprise review

Choose MRI Software if

  • You need commercial lease accounting.
  • You work on Web, iOS, Android, Windows.
  • You also want residential property management.
MRI Software review

Questions people ask

Is ARGUS Enterprise or MRI Software better?
Neither clearly leads. ARGUS Enterprise starts at On request and MRI Software at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, ARGUS Enterprise or MRI Software?
ARGUS Enterprise starts at On request and MRI Software at On request.
Does ARGUS Enterprise or MRI Software run on more platforms?
ARGUS Enterprise runs on Windows, Web. MRI Software runs on Web, iOS, Android, Windows.
What is ARGUS Enterprise best used for?
ARGUS Enterprise is most often used for an institutional investor needing dcf valuations in the argus file format lenders and counterparties expect, an appraiser producing defensible, industry-standard valuation reports for institutional clients, a reit or investment manager running portfolio-wide budget and scenario comparisons across properties, a cre professional pursuing argus software certification as a recognised credential for career progression. Of those, an institutional investor needing dcf valuations in the argus file format lenders and counterparties expect and an appraiser producing defensible, industry-standard valuation reports for institutional clients are not what MRI Software is typically brought in for.
What can ARGUS Enterprise do that MRI Software cannot?
ARGUS Enterprise covers DCF valuation, Traditional capitalisation methods, Lease-by-lease analysis, Portfolio budgeting. MRI Software covers Commercial lease accounting, Residential property management, Investment management, Facilities management.

Answered from the vendors’ own pages

ARGUS Enterprise: Is there a published ARGUS Enterprise price?

No. Altus Group quotes pricing directly, licensed per user on typically an annual basis.

MRI Software: How is MRI different from Yardi?

Yardi sells one integrated stack and prefers you stay inside it. MRI sells an open platform of modules and connectors, so you keep more third-party systems but you also carry the integration work.

ARGUS Enterprise: What is ARGUS Software Certification?

A professional credential recognising proficiency in ARGUS Enterprise, reflecting how central the platform is to institutional CRE valuation work.

MRI Software: Is the product the same in every country?

No. Much of the international line came from acquisitions, so the Australian, New Zealand and United Kingdom products differ from the United States ones in interface, capability and support.

ARGUS Enterprise: Why is ARGUS considered an industry standard?

Its output file format has become the de facto exchange standard lenders and institutional investors expect when reviewing a commercial property valuation.

MRI Software: Does MRI publish pricing?

No. Everything is quoted per module with multi-year terms, and implementation is charged separately.

MRI Software: How long does implementation take?

Months rather than weeks for anything at enterprise scale, and it normally requires either MRI professional services or a certified partner.

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