Besides Loopnet and CoStar

13 Replies

Hi, 

I tried to look for this answer before posting so I apologize if its been answered.  Besides Loopnet and Costar, what websites would you recommend for out of state multifamily buildings, just to browse and get a feel for the local market?  Loopnet free accounts views are quite limited and CoStar's fees are outrages for a lone investor.  Thanks in advance. Dee

Hi @Diem Tran ,

Unfortunately the big firms in CRE data gear their content towards other big firms and not lone investors, which is why they are outrageously expensive. My suggestion is to pay for the LoopNet subscription as it is the lowest price for the market for individuals, or to get in contact with a local broker, or one in the market your targeting, and ask for some data. You can look up these names but you'll find that they, like Costar, are very expensive.

  • Real Capital Analytics
  • TREPP
  • Yardi Matrix
  • REIS

You could however read up on the your target markets to find out trends and transactions through publications like:

  • CPExecutive
  • REBusiness
  • Bisnow
  • Globe St.
  • NREI
  • NAIOP
  • NMHC
  • Local business journals

Hope this helps!

-Conor

Why even bother look at Loopnet?

Loopnet is where deals go to die. If you see a property there it means it's overpriced or already under contract. 

Best way is to search for the leading agents in the area and join their mailing list. It won't produce great opportunities to buy but it will show you a constant stream of properties that are being marketed in your target area.  

Just remember one thing: in a hot seller's market, a marketed deals means It's not a great deal...

@Diem Tran there is no good place unfortunately. In 5-10 years there will be a Zillow for commercial property probably. I already see several upstarts competing with loopnet. In the mean time, you need to get more specific on your market and do some hard work. Once you find a broker that has one, work back to their website and see what else they have.

A few things you can look at in the mean time:

www.commercialsearch.com

www.marcusmillichap.com

www.cbre.com

If you're interested in the Southeast or Georgia specifically pm me and I can give you 5-6 others to look at.

Costar owns LoopNet
I have had success with finding and following the local MLS

Had a call the other day from Costar but the guy left a message and didn't say he was from Costar. He made it sound like he was calling about my project. When I called him back he after pausing and my questions said he was from Costar and started the spiel about they are adding blah,blah,blah.

I have heard this crap for over 14 years from Loopnet and Costar. They recently sent a letter out saying something to the affect of you can lo longer do free listings or something because they want money.

It's all about locking people in to really high crap contracts for a long time. The phone people get paid bonuses to sell you on plans. I probably have had over 100 of them call me over the years and their employees tend to quit as it's always some new name calling me.

I tell them not interested and hang up. Save your money and create your own database and call with e-mails and get on internal lists to see properties. If you are just looking with no intentions to buy then the brokers likely will not give you the time of day. We all make money when we close something. Up to the point it's generally doing a lot of work for no compensation.

If people just want to learn about something and are not buying right now then they need to look at paying someone to train them. The brokers do not have time to give freebies to lookie loo types that are trying to ask a zillion questions.       

Anyone have other suggestions outside of loopnet and costar.  The Costar prices are very high for the average single investor.  They try to lock you in for long term contracts and then up their prices later.

Anyone who has experience using Costar a lot in LA or So cal... review?

I use MLS as they are willing to pay buyer agent. The ones posted often do not pay agent and not all buyers want to pay.

One word: CREXi

Had success with Loopnet and Crexi as well.  

Originally posted by @Calvin T. :

Had success with Loopnet and Crexi as well.  

Old thread, but it holds up. I am a small time commercial real estate owner and market investment properties.

I'm not gonna lie, since costar bought loopnet these guys basically control the online commercial real estate marketing biz, and I get calls from reps asking if my listings are "up to date" which is cover for "do you want to pay for the upgraded service that used to be free so actual people can see your listing?".

I guess there are a few upstarts like "commercialsearch" and "42floors", but they don't have the loopnet reach. it's a shame to have lost the ability to list a property without needing to fork over $104. Anyway, Capturing market share. I get it. ar

Originally posted by @Aubrey P.:
Originally posted by @Calvin T.:

Had success with Loopnet and Crexi as well.  

Old thread, but it holds up. I am a small time commercial real estate owner and market investment properties.

I'm not gonna lie, since costar bought loopnet these guys basically control the online commercial real estate marketing biz, and I get calls from reps asking if my listings are "up to date" which is cover for "do you want to pay for the upgraded service that used to be free so actual people can see your listing?".

I guess there are a few upstarts like "commercialsearch" and "42floors", but they don't have the loopnet reach. it's a shame to have lost the ability to list a property without needing to fork over $104. Anyway, Capturing market share. I get it. ar

Sorry, I meant to ask. What are the good, free sites to list commercial property? I'd like to try that before getting a realtor involved who would take a cut. 

I mainly use these now:

Craigslist

Commercialsearch.com

Officespace.com

42floors.com

are there other good sites, lists, methods? Thanks.

@Aubrey P. . I have used loopnet as well, but as you mention, they are really poor. Just to browse commercial properties in general, I use reonomy (I'm not affiliated with them in any form of fashion). You can find owner information, loan information about the property, ... etc. 

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