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Loopnet Changes Its Subscription Price from $658.80 to $2351.52 Per Year. Thank You for Being A Valued Customer.

MoneyBuildings1

It’s a story that never ends.

Thank you for being a valued LoopNet customer. We are contacting you regarding your current Premium Searcher Subscription.

The price of your current subscription is changing from $658.80 to $2351.52 per year.

This maintains a 20% discount off our current list price of $2939.40 per year.

To continue enjoying full searching access to nearly 800,000 commercial real estate listings, no action is required. The new rate will be effective on your next bill date.

If you have any questions, please contact Premium Client Services at 800.601.8803.

Thank you again for your business,
The LoopNet Team

No Action Required.

You don’t need to do anything. Just PAY!

How long will the commercial real estate industry allow this to happen?

What if your local utility company sent an email like this to every customer they have?

Think of the outrage. Think of the press coverage. Think of the little old ladies on local TV saying ” I have no choice .”

Could they get away with it? No, and not just because it’s a regulated industry.

Why not, they should be able to charge anything they want.

Little old ladies be damned. The market is what the market allows it to be.

LoopNet defines their market, and you pay.

I have asked before.  LoopNet. How Much Value Does It Provide For Your Business?

You answered “not very much at all.”

I’ve written post after post. Co-Star LoopNet Data Tenants Transparency Lease Comps Fame Money Sex Power and The Kitchen Sink.

And still……….?

I posted a video years ago clearly stating exactly what would happen.

 

And guess what? LoopNet Raises It’s Prices And All You Can Do Is Bitch.

So What’s The Answer?

You know the answer. It’s already here.

Pirate Flag #CRE #TECH

 

joker-burning-money

 

So…….

LoopNet Changes Its Subscription Price from $658.80 to $2351.52 Per Year. Thank You for Being A Valued Customer.

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  • AdvancedREI

    Hey Duke,

    Are you going to be at CRE Tech Intersect in SF next week? If so, please stop by the AdvancedREI table. I’d love to show you what we’ve been working on since we last spoke to solve this problem in a different way than everyone else. 🙂

    -Robert McLaws
    CEO, AdvancedREI.con

    • Duke Long

      I will be there. Look me up

      • rsky1

        Let us all know Duke what is up their sleeve.

  • Jonathan Schwartz

    Just another reason to look elsewhere. Our brokerage just signed up with Xceligent.

  • Way back in the year 1999 or so when I was Florida CCIM State Technology Co-Chair LoopNet approached us for our data…we had our own CIE and they made us a sweatheart deal $39.95 per year for all our help…not even six months later they told us they loved us..but they couldn’t deliver the quality of service we had come to know and expect so they had to charge $39.95 per quarter…then per listing…then some other pricing scheme…I got a surprise bill for $798.00…I was opposed to giving up our CIE then…I went on record to the effect that we would lose control and would be hostages…and here we are! Viva La Revolution!

  • spotCRE

    In another blog about Loopnet’s price strategy one of the Brokers wrote:
    “I’m certainly not thrilled about paying more to market my properties but how is everyone handling their owners? I may just have savvy clients but there is no way they will list with me if I’m not marketing their properties on Loopnet. All they have to do is go online to check up on my efforts and they will know it’s not up. Thoughts on combating that?” No one answered with an resolution except one.
    We replied:
    “normally should be a period of transition in this case. Use of both, the overpriced and the other fair priced competitor, in same time and if you have owners who have no matter how you market the properties then use the fair priced only. Otherwise if an huge number of brokers and agents leave the overpriced company at a time your owners don’t want to list with an company who become irrelevant.” We got no reaction.

    Elsewhere a leading broker wrote: “So much VC is pouring in to CRE tech that it is staggering…but to what end? SOMEONE has to pay for ALL of the new offerings that the VC is creating…AND, what guarantee do we have that the offering will survive and be viable in the years to come?” We agree and you know about our doubts.

    So we offer now a new option to list CRE properties in a new national listing directory without any VC. May list for free or very affordable fees also. No premium search fees no premium fees for anyone or anything – no data aggregate. To get on the right track, everyone in the CRE industry must be equal. That’s our intention.

    We launched in April you know, we sent an message. What do you think how many of over 150 invited brokerages/agents use our service actual? Yes zero. We offer an free annual year as early bird. Looks like no one want it for real or have to much money in pocket or they are all afraid of Loopnet/CoStar reaction?

  • Ken Ray

    Hi Duke
    Great article, Two main issues must investors, tenants and broker come across while searching CRE properties are the cost to access available listings and the fragmentation of the marketplace.
    We have launched our Miami beta platform a two weeks ago and have received tremendous feedback.
    Vestvox is a crowd sourced commercial real estate marketplace that helps brokers, investors and tenants discover, market, purchase and lease on a value driven platform.
    Vestvox.com was conceived due our many years of frustration. A full Florida beta launch is due soon, followed by a national launch. Would love to discuss further with you.
    Ken Ray
    Founder / CEO