How do you feel about Loopnet?

Question

Anytime I am doing a search for a property, Loopnet is one of the first links.  I have heard some great things, and not so great things about Loopnet.  I'm curious to hear how the BiggerPockets community feels about Loopnet.  Thanks for everyones input!

Sherman Ragland · Answer

Loopnet was a great place to find deals, until...

They got a new owner a few years back.  Every day it appears that the acquisition was really to kill Loopnet, not improve it.

Karen Margrave · Answer

I've heard commercial agents say that Loopnet is where listings go to die. I used to like Loopnet. However; their new fee structure prices out anyone that isn't a hardcore commercial broker or buyer. The listings shown to the person at large browsing real estate listings is very limited. Why brokers that are paying top dollar for listing on Loopnet, don't insist their listings be shown to everyone visiting the site, rather than hiding some and using them to tease visitors into joining, is kind of odd.

Joe Pitrolo · Answer

I tried to list a few commercial properties and they wanted $67 per month per property and I listed 2 properties for $133 for about 4 months with zero leads or responses, so I deactivated my listing on their site, yet they continue to bill me the $133.  Now they are saying I committed for one year and cannot cancel.  I spoke with a realtor who uses Loopnet/Co-Star and she said she has also gotten zero leads ever from them.  I may inquire about one of their listing, but be very careful about listing a property on their site.

Ann Watkins · Answer

Overpriced. Now owned by Costar which is in a lawsuit with Exceligent...very frustrating.

Sherman Ragland · Answer

@Tj Hock - Unfortunately, the MLS is not a viable substitute for Loopnet.  Even in it's diminishing state, Loopnet still has more commercial listings than you will find in the MLS.  Also, the parent company of Loopnet continues to use the court system to kill off any legitimate competitors.

Tj Hock · Answer

Great post! Any thought on competitors to LoopNet other than MLS?

How do you feel about Loopnet?

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