LoopNet vs. MRIS

LoopNet is well suited for many different industries. Obviously it is great for real estate professionals or real estate buyers when researching properties that are available or may become available. The history of the properties provided is excellent and provides details that would be very helpful to the real estate industry. Facility Service companies are also well suited for the use of LoopNet. With the property information it provides it makes it much easier to get to the decision-makers when selling facility services or products. LoopNet may be less appropriate for product sales as these providers may need to be more connected with the occupants of the properties more than the owners.

Incentivized

• Immediate alerts can be set up for new listings that meet your criteria
• You can map an area you are interested in searching
• The report writing has some decent functionality
• You can email prospects about your listing

Incentivized

• LoopNet needs to do a better job of sifting through to delete old and stale listings. These listings are inaccurate and clutter a report to lower its credibility.
• I am not a fan of the reporting. As a broker, I can make sense of the reports but the public is not always as savvy.

Incentivized

LoopNet/CoStar representatives are ready to help and willing to come out to the office to give presentations or meet with the team at any time. They are a valuable resource when you are trying to utilize the program to its fullest advantage.

Incentivized

LoopNet is the most well known, with the widest audience. This is why I selected it. But, they cannot get the simplest of details correct for the purpose of advertising the listings I have for sale. When they can't get even a unit count correct, why bother? Not to mention that getting those sorts of core details wrong is actually damaging to the marketing efforts.

• Time saved in researching owners has helped our sales and ops teams greatly.
• The ability to research properties from the computer in lieu of in-person is very helpful.
• One person can research as many properties as a team of people in the field in a much quicker time frame.

Incentivized