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The Pros and Cons of LOOPNET (really you are dealing w CoStar)
https://www.trustradius.com/multiple-listing-service-mlsLoopNetUnspecified5.73101
Jamie Kim profile photo
August 11, 2018

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

Score 3 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with LoopNet

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
  • 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
  • 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.
  • I can reach tenants, who email me loopnet inquiries on my listings.
The info is not as accurate as AIR CRE. LoopNet has a lot of fake listings, bait and switch listings.
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.