Commercial Property For Sale website
Hi Group,
I'm wondering why there isn't a centralized database for commercial properties like you might find with residential properties with realtor.com?
I'm familiar with loopnet, but since I'm not a paying member, I only see about 1/3 of what they have listed.
Isn't there a "craigslist" of free commercial real estate listings somewhere on the Internet? If not, why? It seems both buyers and seller would benefit.
I am surprised that by late 2012 there is still no "MLS" for commercial. CoStar/Loopnet is as close as there is. You might sign up for a paid Loopnet membership while you are shopping and then drop it. I've kept mine for several years. Most of the time it's not worth it, then I'll use it and it will pay for itself for a year or two.
Marcus & Millichap has their own site - most of their agents also upload everything to Loopnet.
CIMLS is another attempt at providing a commercial MLS.
MHPS.com is just for MHPs for sale
From this site you can also connect to the other sites they run for billboards, a site hotels/motels and a site for storage units available.
Many of the sites charge so much for membership no one feels it is worth paying the fees to market their properties.
Tom B you do realize the MLS isn't free, right? Ever listing that appears on realtor.com was paid for by someone. Directly by the listing agent, but ultimately by the seller.
Loopnet works the same way. The listings you can see are ones that were paid for by the seller or their agent. At least some of the ones you can't see are the free listings. Since the poster isn't paying, the potential buyer's have to pay to see them. Maybe they pay a reduced rate for a posting that's only visible to paid members.
Once upon a time I had a loopnet subscription. Its not really that expensive, if you're seriously in the market for such properties. If you're just looking for what sort of things area available in an area, which I still do once in a while, you have to content yourself with the listings that were fully paid for by the poster.
Another website that we list on is propertyline.com
Tom,
in the near future it will come a new commercial listing website but unfortunately there is some delays actual.
-Uwe
Andy Chu it looks like you are a residential agent, are you listing residential or commercial properties on the site you mention?
Jon, yes I do realize. I just thought it was odd for someone who is looking to buy (as opposed to sell) that they cannot see all the commercial properties available for sale.
Originally posted by Tom B:
Jon, yes I do realize. I just thought it was odd for someone who is looking to buy (as opposed to sell) that they cannot see all the commercial properties available for sale.
Yes, I agree that's a little odd. I can only assume that loopnet understands their business well enough that this approach maximizes their profit. The MLS caters almost exclusively to owner occupant buyers. Most of whom buy only one or a few houses in their lifetime. Loopnet, OTOH, caters exclusively to investors or commercial enterprises. For those folks, the subscription cost is trivial compared to the investment they make.
Have you created an account on loopnet? If you do, they might contact you and offer a discount on a subscription. That's how I ended up buying a subscription. And you can do it for just a month or two and see if its worthwhile.
Yes, I do have a free account. How does loopnet determine what properties it will show me vs. which ones are locked? Maybe based on whether the lister paid for the listing or not?
Basic members only see the listings put in by the premium users. Any listings from basic members does not show up. I listed a property for sale once and as a basic member could put the info out there, but if I did a search for the property, I would not even see my property. After editing it, it gives you a preview of what it looks like to others. That is the only time you can see it.
We list on there commercial listings such as 12 unit complex, vacant restaurants, and etc.
Our local MLS does have some commercial listings (http://www.recolorado.com/.) And some of the local companies that specialize in commercial have their own web sites. I have the general impression a lot of commercial is word of mouth or friend of a friend. Its a much tighter community of buyers and sellers than SFR.
- Realtor, General Contractor, and Developer
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Hint - sometimes, today included, when I view loopnet on my phone vs. on my computer, the locked properties show up unlocked. From time to time it seems to do this.
Originally posted by Karen M.:
http://commercial.realtor.com/ , http://www.cimls.com/
This is realtor.com I'd think they'd be in great position to do this right, but when I search for sale in the zip code I'm sitting in, they show 1 property, while Loopnet shows 26.
And for lease...
Realtor.com for lease = 1
Loopnet for lease = 63 properties
Thanks Karen, I was able to find a few I hadn't seen before.
I use Loopnet & have had been a paid member when I'm actively looking for a property. I don't really like the format but when I'm really seriously on the hunt for something it's been a the best resource that I can find. But then again I'm into NNN deals so those are National tenant brokerages which is a smaller market than MF.
- Realtor, General Contractor, and Developer
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Aside from the listings, there are different memberships available so that you can pull comps. The comps they have on commercial are pretty good.
Costar purchased loopnet.
Most big brokerages do not cooperate with other brokerages. 80% of commercial transactions are sold by the same listing broker. Therefore there is not need to have an MLS system. This creates high barriers to entry.