The Pros and Cons of LOOPNET (really you are dealing w CoStar)
August 11, 2018
The Pros and Cons of LOOPNET (really you are dealing w CoStar)
Score 3 out of 10
Vetted Review
Verified User
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
- 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.