CoStar vs Loopnet: What is the standard for Commercial Brokers?

Question

A question to Commerical Brokers:

What is the equivalent standard to the FMLS for Commercial Brokers for searching and listing commercial properties?

What is monthly cost to have access to either CoStar or LoopNet and is a real estate license required for access?

Thanks.

Wayne Brooks · Answer

Residential and multi family, little true commercial.  Loopnet is mostly junk where mostly FSBO's and wholesalers put their stuff, since it's free.  Costar has a Lot of other resources on market data, rent rates, demographics, etc.  Costar is geared to reach commercial brokers with clients, whereas Loopnet is geared toward individual buyers.

Wayne Brooks · Answer

Loopnet is a combination FSBO and brokers, with a lot of junk, about $60/mo.  Costar is professional only, I pay $240/mo.

Lumi Ispas · Answer

@James  Park as any Listing website, properties are listed at the market or above market price. You can still find a deal here and there. A lot of commercial brokers do not list the properties at all.

See who are the top listing agents in the neighborhood or city you are looking and reach up to them to ask what pocket listings they have.

Commercial Real Estate is a different game.

James Park · Answer

@Wayne Brooke,

Are you strictly a commercial broker? or do you do both residential and commercial? What access can you get with CoStar that you can't get with LoopNet?

I have two prior residential clients who are now looking for commercial space to house their businesses so I need learn this side of the business fast.

Just finished reading "How to succeed in commercial real estate by John L Bowman and it is an excellent book.

Thanks.

CoStar vs Loopnet: What is the standard for Commercial Brokers?

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