LoopNet

(52)
3.6 out of 5 stars

LoopNet is an online commercial real estate marketplace that connects buyers, tenants, and investors.

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LoopNet Reviews

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Showing 52 LoopNet reviews
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LoopNet review by <span>Marshall B.</span>
Marshall B.
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"LoopNet - Essential for Brokers"

What do you like best?

I like the ease of inserting new properties to the database as well as researching other properties.

What do you dislike?

Sometimes the representatives call incessantly, but they are just doing their job to help get your property up to date and accurate!

Recommendations to others considering the product

LoopNet (in conjunction with CoStar) has one of the single largest databases of available real estate properties in the world. Their platform is intuitive, and accessible by the majority of internet users. Great research tool!

What business problems are you solving with the product? What benefits have you realized?

Ease of locating other individuals who may not know where else to find my properties/my contact information.

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LoopNet review by <span>Russell B.</span>
Russell B.
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Verified Current User
Review Source

"Very disapointed"

What do you like best?

Easy to upgrade services. Properties display on Loopnet sites, but nowhere else. No indication of any syndication whatsoever.

What do you dislike?

Marginal performance at best. Our listing was never displayed in an organic Google search, which one should expect. What's more, the small prospect list that we did generate was lost when we downgraded our service. We were told we would have to recommit to see the names and numbers of the 17 prospects we already paid close to $400 to generate. I have never had a lead system that suppresses names and numbers from the CRM for leads you have already paid for.

Recommendations to others considering the product

Don't expect much.

What business problems are you solving with the product? What benefits have you realized?

No results from 90 days of service.

What Multiple Listing Service (MLS) Listing solution do you use?

Thanks for letting us know!
LoopNet review by User in Commercial Real Estate
User in Commercial Real Estate
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Verified Current User
Review Source

"Very Useful If You Are Premium"

What do you like best?

I love that you can easily search through the map or addresses and find what you are looking for. Some of the information is hard to find, specifically land options or addresses with two names.

What do you dislike?

I hate the two premium listing and searcher accounts. I have a premium searcher account and it is extremely useful to search through listings but if I have a broker that wants to upload a listing and have everyone see it, I cannot do that through my account. You need a premium LISTER account which is separate and is another fee. Also when you are looking at the name of a broker or user, it shows "Premium" but it does not show which account they have.

What business problems are you solving with the product? What benefits have you realized?

I am constantly getting alerts through Loopnet about new listings, changes or things taken off the market. I realized that I can set up alerts to send to my email and have a "watch list" which shows me if something has been taken off the market. It helps when I am updating the system.

LoopNet review by <span>Rebecca K.</span>
Rebecca K.
Validated Reviewer
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"This is where I search for comps/properties similar to ours"

What do you like best?

Loopnet, especially after their recent pairing with CoStar and their makeover, has become an extremely easy to use marketing tool for all of our commercial properties. The ease of adding a new sale listing makes my job so much simpler.

What do you dislike?

The only thing I dislike is that they limit you on the characters you are allowed to use in the property highlights.

Recommendations to others considering the product

While it is a great marketing tool, beware that they do partner with CoStar, so you will get a LOT of calls about your sales.

What business problems are you solving with the product? What benefits have you realized?

This is where we send all of our listings that we cannot sell using our own marketing efforts. I like it because Loopnet will match you with a 'Prospect List' based on their criteria, and you can send the property to them based on the match-up.

LoopNet review by <span>William S.</span>
William S.
Validated Reviewer
Verified Current User
Review Source

"Very Good Site but Not Perfect"

What do you like best?

LoopNet allows anyone to use its site. Both professionals and independent customers can use LoopNet for free to get a general idea for properties on the market and where pricing is for all Commercial Real Estate properties.

What do you dislike?

I have used LoopNet for over 5 years, and it has gotten better over time. However, LoopNet still has one major issue - many of its listings are either out of date or inaccurate. I am a broker, and I post my own listings on the site and I also use the site to look for properties for clients of mine. With that being said, many of the properties I come across are not updated accurately, and are not even currently on the market. To be fair, I have had a couple outdated listings on the site. This is because LoopNet doesn't have a great system for checking on listings to verify the accuracy of them or to follow-up with agents/brokers who have posted listings.

Recommendations to others considering the product

I highly recommend using LoopNet to get a feel for how this database and service functions. Some brokers and individuals love it and solely use it as their listing service. However, to get the most out of LoopNet, you need to become a Premium user which comes with a costly price tag. The free service is good but doesn't offer all the information that is on the site. Like most listing services, you have to pay to get the most out of it, which is slightly misleading since many people think the site is completely free to use.

What business problems are you solving with the product? What benefits have you realized?

LoopNet makes it easy for my clients to get a feel for the market on their own, but because the information is not always accurate, sometimes is it misleading. However, LoopNet offers a wide variety of properties and a lot of people use the site to post listings and check on what is available in the current marketplace. It is widely used by both brokers and individuals and is continuing to grow in size which is making the service better every year.

LoopNet review by <span>Scott P.</span>
Scott P.
Validated Reviewer
Verified Current User
Review Source

"It's the less expensive, less user friendly, less comprehensive little sibling of CoStar"

What do you like best?

I like that LoopNet is a very accessible and social version of other real estate databases like Xceligent or CoStar. Anybody can make a free account and start searching. It opens up the mysterious world of commercial real estate to the public. It allows brokers to advertise much more than other platforms.

LoopNet is a good resource for industry news.

What do you dislike?

Some residential brokers will put things on LoopNet but not on CoStar. Some commercial brokers will put listings on CoStar but not on LoopNet. I dislike the need to search and cross reference multiple sources to find out the true information. I find myself starting with CoStar (because it's my best chance), cross referencing with Xceligent (because I'm likely to get a good feel), and then last resort go to LoopNet. While LoopNet is a good source for industry news, it's not such a reliable source for detailed information on properties.

If CoStar is the MLS of commercial properties, LoopNet is Zillow.

Recommendations to others considering the product

If you're going to pay for LoopNet premium, consider alternatives. Having a Basic account is free and I would highly recommend to anybody who wants or needs to know information on commercial properties. Is it a perfectly curated database of properties? No. But it is a good jumping on point that can give you enough information to dig deeper.

What business problems are you solving with the product? What benefits have you realized?

LoopNet allows the public to inform themselves on some commercial real estate. I use it to pose questions to the public, advertise my services, and learn about industry trends.

Kate from G2 Crowd

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