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Loopnet. How Much Value Does It Provide For Your Business?

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Ah, Twitter LinkedIn and the old school phone calls. Always interesting conversations.

Simple task:

1. On a scale of 1 to 10 rate the value that Loopnet provides for your business today.

2. On a scale of  1 to 10 rate the value of Loopnet to your business compared to two years ago.

Please rate and give any reasons that you want. This is a non filtered open forum.

Post in the comments section here on Twitter or in the LinkedIn Groups that this post will appear.

Thank You for your participation.

 

 

 

 

 

 

photo credit: <a href=”http://www.flickr.com/photos/schtumple/4647946211/”>Ben K Adams</a> via <a href=”http://photopin.com”>photopin</a> <a href=”http://creativecommons.org/licenses/by-nd/2.0/”>cc</a>

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  • Philip Higgins

    Sellers expect a posting (or Costar wouldn’t have bought them) but refer to point #1. Really only useful in my opinion if you have a “local” owner user type of property or a low CAP NNN investment that you cant fool anyone into buying (again see point #1). Little difference over 2 years ago. I have Costar for comps, so LoopNet’s “fee upgrades” are redundant.

  • Lowell Peabody

    1.) 3
    2.) 3

    It’s useful for some research sometimes in off the path markets/towns around Boston. Perhaps it’s a peace of mind check that they do or do not have listings already posted on Costar. I could let it go, but I hesitate…

  • t g

    1) 2
    2)1
    It just isn’t a factor. I will really be interested in the results. I would like to know what, if anything, Loopnet brings to others.

  • @JohnOrrCCIM

    1. 1.5
    2. 1

    My Market is South Carolina
    Loopnet is only of value since our listings are pushed out via the REApps system (guess who owns that), unfortunately none of the listing are viewable as it seems unless the lister and the viewer are both premium members.
    There’s no value, it’s a waste of time to enter.
    oh, and it gets worse – the major competitor is CoStar – riddle me that one Batman!

  • abuchanan

    2
    2
    Loopnet seems to be the de facto MLS for everyone BUT CRE brokers. Loopnet has great resi appeal and occupants gravitate toward it. Loopnet used to charge CRE brokers directly for listings. Now, we get our listings published to Loopnet through our Costar subscription. Definitely shows up in searches

  • It’s one of the tools in our toolbox. Probably more useful in secondary and tertiary markets we work in. It generates a good number of calls. Quality of leads at times is questionable. I think the bottom line is none (Loopnet, Costar, PropertyLine, etc.) are perfect.

  • Value Today: 7.5
    Value Compared to Two years Ago:7.5

  • Beth Anne Grib

    Today: 4 ..tops…only if you have all premium accounts. We all know that LoopNet is the Listing arm and CoStar is the data arm. We get leads from time to time, but qualifying them is still challenging to say the least most times.
    2 Yrs Ago: 1 – tedious entry with no value or benefit to be seen

  • CREOutsider

    1 – 5; 2 – 5. LoopNet as a marketing platform still works well enough in the tertiary markets but not so much in the secondary markets. I don’t work in primary markets, so don’t know about them. Also think that LoopNet is still the defacto “listing database” for smaller markets.

    Agents tell me sale properties do best – user or investment – but it’s useless for leasing. Data over the years shows LoopNet deal revenue has declined.

    Whether useful or not, it’s the client who demands that their property be listed on LoopNet since they “know” about the site and feel the exposure is important. It also looks good to add it to your marketing spiel for owner representation – that you promote their space all over the place including LoopNet.

  • Jody Hellman

    I find these comments very interesting as I am the owner of commercial office buildings
    and use LoopNet
    to publish spaces I have for rent. I just assumed
    local brokers went on the site when they had a client for office space?!

    • CREOutsider

      Just wondering – do you get tenants from LoopNet – either directly or through agents?

    • CREOutsider

      Just curious – do you get tenants from LoopNet either directly or from agents?

  • James Osgood

    I use it to find brokers in market in which we do not have OfficeFinder Network Member brokers. Mostly smaller markets out in the boonies. I check out to see who has listing similar to the requirements requested. I’d give them a 7 today an a 5 two years ago.