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LoopNet

Score7 out of 10

9 Reviews and Ratings

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Community insights

TrustRadius Insights for LoopNet are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Business Problems Solved

LoopNet is a valuable tool for users who need access to property owner information to connect with the right people for their services. By utilizing LoopNet, users can save considerable time that would have otherwise been spent trying to gather this information manually. This allows them to focus more on selling and managing their services. In addition, LoopNet serves as an effective internet marketing link between users' property listings and the public, creating a seamless connection between buyers and sellers. Whether it's brokers or administrative staff, LoopNet provides a platform for users to publish listings, advertise available spaces, and promote upcoming buildings. With its extensive database of potential customers, LoopNet is a go-to resource for users to market their company and area. Users rely on LoopNet on a daily basis for various purposes such as email marketing, property searches, running reports, and gathering essential information for day-to-day business operations.

Reviews

6 Reviews

LoopNet saves time and effort in property research

Rating: 9 out of 10
Incentivized

Use Cases and Deployment Scope

LoopNet is utilized to gain valuable property owner information. We utilize this information to ensure we get to the right people when discussing our services.

LoopNet provides info that would take considerably more time to ascertain without the use of LoopNet. With this information, we can dedicate more time to selling and managing our services.

Pros

  • Accurate Owner information
  • Contact info for owners and or management companies associated with the property
  • Ownership history

Cons

  • Some of the information is outdated
  • Some contact info is lacking - missing a phone number
  • Better emailing features

Likelihood to Recommend

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.
NC
Norm Coyne
Account Manager in Customer Service at Snow and Ice Management (11-50 employees)
Vetted Review
LoopNet
1 year of experience

LoopNet is worth the spend.

Rating: 10 out of 10
Incentivized

Use Cases and Deployment Scope

Our company uses LoopNet in several ways. (1) We use LoopNet to advertise open listings from available open land parcels to rentable space in existing buildings to buildings that are in the pipeline to be built. (2) We use it to look up potential customers. (3) Advertisement for our area and company availability.

Pros

  • User-friendly
  • Lead tracking
  • Listing/Marketing

Cons

  • I would like the lead emails formatted differently with better information.

Likelihood to Recommend

LoopNet is a great resource for real estate brokers and people generally looking for real estate. Whether they are looking for land to purchase or a space to rent for office or retail, LoopNet has something for everyone.
VU
Verified User
Administrative Assistant in Sales (51-200 employees)
Vetted Review
LoopNet
2 years of experience

Do NOT advertise on LoopNet

Rating: 1 out of 10

Use Cases and Deployment Scope

We use LoopNet as an internet advertising platform for commercial real estate listings.

Pros

  • Market exposure
  • Lead generation

Cons

  • Quality control is poor
  • The demeanor of those that work there is arrogant and indifferent

Likelihood to Recommend

I do not know of any examples where this service is worth the aggravation one must endure to utilize the service (which then only poorly delivers on the service sold).

WG
Will Gibson
Principal in Sales at Portage Bay Advisors (1-10 employees)
Vetted Review
LoopNet
5 years of experience

LoopNet is a Good Tool for the Arsenal

Rating: 7 out of 10
Incentivized

Use Cases and Deployment Scope

I use LoopNet daily for marketing and searching for investment properties. It is a good tool to gather information for my day to day business.

Pros

  • LoopNet provides easily printable reports for my clients.
  • LoopNet clearly markets my listings.
  • LoopNet provides a fairly detailed representation of on the market properties.

Cons

  • There are often glitches on the sight from the searching to report pulling process
  • The alert function for saved searches is very rarely functional
  • The database search is often glitchy if you put in a high price limit, and no low price limit

Likelihood to Recommend

LoopNet is a great base for searching current listings. It is suited for brokerage, development, and investment-related property activities. It is less appropriate for the pulling of comparable sales and historical data.
CS
Corey Sandberg
Associate Advisor in Professional Services at Pinnacle Real Estate Advisors (51-200 employees)
Vetted Review
LoopNet
4 years of experience
View profile

The Pros and Cons of LOOPNET (really you are dealing w CoStar)

Rating: 3 out of 10
Incentivized

Use Cases and Deployment Scope

I used LoopNet pretty much on a daily basis.
- For my listings, to do email marketing to prospects
- For my for lease, for sale searches, I used it to find new properties that have hit the market, and I have to run reports, surveys of avails

Pros

  • 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

Cons

  • They are trying to force you to use costar, so now they added 3 extra steps for you to run a report. They say running avails surveys is like RESEARCHING DATA, which falls under Co-Star.
  • They raised rates 40% recently, with no improvement. The actually reduced functionality and efficiency.
  • They hide alot of listings that are on CoSTar.
  • They used to do SEO stuff for your listing, so when you type in the property address on Google your listing would show up. Now they hide, suppress your listing. I can't find my listings using GOOGLE. You are paying for exposure to potential clients/tenants/buyers, but you don't actually get that exposure until you pay extra.
  • Ever since COSTar took over loopnet it has been a continual downhill experience.

Likelihood to Recommend

CoSTar sues all competitors and run them out of business. This is kind of the only goto stop for reaching the public, when they have no real estate broker representing them.
JK
Jamie Kim
Executive Director in Corporate at The Phronesis Group (1-10 employees)
Vetted Review
LoopNet
15 years of experience
View profile

LoopNet is the necessary evil taking over the world

Rating: 7 out of 10
Incentivized

Use Cases and Deployment Scope

We currently use LoopNet as a form of publishing our properties on the internet. LoopNet is the internet marketing link between our listings and the public. Since LoopNet has recently been combined in some sort of fashion with CoStar, it works very well hand in hand. Every broker (~45) in our offices publishes listings on LoopNet. Some do it personally while most have our administrative staff handle the input of data and publishing.

Pros

  • Ultimately LoopNet is a listing service for brokers and a research service for the public. It shows up first on almost every Google search related to commercial property leasing or sales. This is its largest value.
  • LoopNet does a very good job of being known. Most members of the public seem to be familiar with LoopNet and many people looking for space or to buy a building will search LoopNet.
  • LoopNet has the most accurate data of any commercial MLS. It cannot be completely trusted, but it is definitely better than its competitors.

Cons

  • 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.

Likelihood to Recommend

I would reluctantly recommend LoopNet to a colleague. It is sort of the current gold standard for a commercial real estate public-facing MLS. Because of this we either use it or miss out on access to the user base. It's kind of a funny question... if I asked you "On a scale of 1-10, how likely are you to recommend Facebook if asked by a colleague?" you would probably say... "Well I don't necessarily recommend it... but you kind of just have to have it."
SP
Scott Patterson
Industrial Real Estate Broker and Investment Properties in Sales at Lee & Associates Commercial Real Estate Services (501-1000 employees)
Vetted Review
LoopNet
5 years of experience
View profile