All Forum Posts by: Jason Thompson

Hey @Jason Thompson!

Generally I prefer Crexi from a visual and navigation perspective.

I completely agree with @Greg Kasmer and @Jasmin Hernandez 

What has worked best for me to source deals is to use Crexi as a way of finding listings that roughly suit our acquisition criteria and contact the listing broker. If they list a property that is similar in geography, class, price range and # of units & or tenant quality its likely that they have more of similar opportunities as well. 

I'll call up the listing broker, build some rapport and give them a run down on who we are and what we are looking for. After confirming that what they listed is something they transact often and it seems like their inventory might be a good fit we exchange contact information and I send over a clean document which outlines our acquisition criteria for their records.

I follow up consistently and promptly and continue to provide feedback on the listings they send until the trust is built and we find a deal that is a good fit. Then its time for an LOI and the real work begins!

Another recommendation I have is to also search for properties on individual brokerage websites following a similar process as I outlined above or finding brokers in your market and creating a personal relationship with them.

Loopnet's parent company is CoStar, a publicly-traded company that also owns brands such as Apartments.com, Homes.com, etc...whereas Crexi is a small/midsize company. I echo the other posters: write down the names of brokers that are posting deals that interest you. Also note that Loopnet and Crexi are often the channel of last resort; properties often have been circulated privately by brokers and are also on MLS.

That said, its another channel for deals, and you should monitor it.

I use both, and find that although many of the listings are the same, you can find individual properties which may sometimes be listed on one and not the other. 

I also agree with Greg, the most valuable thing you may be able to find on both sites is the listing agents who you can develop relationships with. Once the relationship is there, you can be receiving off-market deals directly from the agents. 

Jason - I think the best item you can get from loopnet and crexi is not necessarily the listings, but the contacts/agents that are listed there. Look to see who is active and them give them a call to develop a relationship with them. Their better listings are probably not on either Crexi or loopnet. Good Luck!