LoopNet Reviews & Product Details

LoopNet Overview

What is LoopNet?

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

LoopNet Details
Website
Product Description

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


Seller Details
Seller
CoStar Group
Ownership
NASDAQ:CSGP
Company Website
Year Founded
1987
HQ Location
Washington, DC
Total Revenue (USD mm)
$1,399
Twitter
@TheCoStarGroup
42,573 Twitter followers
LinkedIn® Page
www.linkedin.com
4,518 employees on LinkedIn®
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LoopNet Reviews

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UR
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

I t was pretty easy to enter the listing Review collected by and hosted on G2.com.

What do you dislike?

Their hounding, their demand and pushiness to also be apart of Costar and their TERRIBLE policy about billing 2 months after cancelling. Review collected by and hosted on G2.com.

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

Buyer Beware! I signed up to lease a small space. I cancelled the listing on Oct 8th and yet was billed another 118 today ( Nov 2). I called them to complain and all she kept saying was that It "auto renews" quarterly and if you miss the first day of the next quarter ( which as Sept 1), you are automatically committed to the next 3 months even if you cancel on Sept 2. this is the most ridiculous scam I have ever seen.

Paying for 2 months even though my listing is no longer there and even their service is no longer needed. Absolute joke!

Don't do it! Go elsewhere! Review collected by and hosted on G2.com.

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Commercial Real Estate Appraiser
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

The website is free and accessible to all. They have info on current leases which the paid costar does not have. And they have easy access to broker info. Review collected by and hosted on G2.com.

What do you dislike?

The website is a little clunky in terms of search. Also, it’s very clear that Costar ( the parent company) has put this site on the back burner to their paid option. Therefore if you’re an appraiser you would need a Costar subscription and cannot rely on loop net alone Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Since the site is free there’s no reason to not use it. However if you will do serious appraisals you will need a Costar as well. Review collected by and hosted on G2.com.

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

We are looking for comparables as well as information of brokers to be able to reach out to them and get their market opinions. Review collected by and hosted on G2.com.

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UR
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Properties can be sorted by type, size, location, price, sale, lease, et al. Selected inventory can be saved, emailed, mapped, and sorted. Review collected by and hosted on G2.com.

What do you dislike?

To get the most out of the product a paid subscription is necessary and the usability is based on your subsciption tier Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Use Loopnet as an adjunct to CoStar Review collected by and hosted on G2.com.

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

Quick and dirty way to compile a market segment overview. Good way to farm for expired listings Review collected by and hosted on G2.com.

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AG
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Loopnet is great for brokers and tenants/owners alike. The company I work for uses it on the broker side and we've received lots of leads from loopnet. It's free for people to search, but requires brokers to pay to put their listings into the database. High-quality, free version of CoStar available at zero cost to those searching the database. Review collected by and hosted on G2.com.

What do you dislike?

Loopnet is part of CoStar. Our company pays a fee to allow our brokers to have an account to CoStar, and that fee is reasonable and has not increased much in the last few years. The fee for loopnet however, has increased nearly 300% in the last 15 months. Brokerage companies are required to pay per listing they have on Loopnet. It's not required to list there, but suggested as it gets quite a bit of exposure. Our company used to pay $14/listing, and after a second price increase, are now paying $42/listing. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Great option for those looking to search commercial listings without having to pay a fee. Somewhat expensive for brokers looking to get listings posted. Review collected by and hosted on G2.com.

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

We get better exposure with our listings when we have them listed on Loopnet. We receive anywhere from 5-20 leads per day on different listings, usually directly from tenants looking for space. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

What did i like best? Firing Loopnet as a provider. Review collected by and hosted on G2.com.

What do you dislike?

They cannot get simple details correct regarding listings, even when they are provided the details, and repeatedly reminded to change them to what is correct. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Do NOT advertise on loopnet, and do not share your data with them for free. Review collected by and hosted on G2.com.

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

I have realized no benefits, and using Loopnet to advertise listings has only caused problems. Review collected by and hosted on G2.com.

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UE
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

LoopNet incorporates the ease of find sale information through a list of by a map. It includes all information necessary to value the property accurately including price, location, square footage, agent contact information, and photos outside and inside the properties. Review collected by and hosted on G2.com.

What do you dislike?

I don't like that it doesn't have an efficient way, or possibly no way, of finding information such as the county the property is located, or the exact city the property is located in. The listing will include only what the listing agent has included and doesn't have restrictions to correct the information. Therefore, sometimes a listing can be misleading with inaccurate information. There is no property tax information for new construction, so that information must be researched separately from this software. There is also no helpful valuation information other than the price listed. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

I would recommend a valuation analysis to verify the price of the listings. Review collected by and hosted on G2.com.

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

I am able to use the information on LoopNet to get a true valuation of the building for sale and measure whether or not the property is over or under valued. Review collected by and hosted on G2.com.

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Director Of Client Relations
Facilities Services
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

LoopNet allows you to quickly find owner or landlord info for most commercial properties. Review collected by and hosted on G2.com.

What do you dislike?

Many times the information is not complete or up to date. Review collected by and hosted on G2.com.

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

LoopNet was utilized by our field and sales teams to gather information on properties, prior to approaching those contacts concerning their facility service needs. Review collected by and hosted on G2.com.

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UR
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

Since Loopnet has been bought I believe that it is a dying product. Review collected by and hosted on G2.com.

What do you dislike?

The only reason anyone still uses the product is because that is what they were used to doing. You no longer get the exposure you once did and it is no longer a viable marketing source. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

This is not a great marketing platform since its acquisition. Review collected by and hosted on G2.com.

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

I'm not solving any problems with Loopnet and have not received any benefits since its acquisition. Review collected by and hosted on G2.com.

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Associate, Commercial Division
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

This is EASILY one of the best services for anyone involved in commercial real estate transactions. It provides the user with all of the relevant info necessary to either buying or selling a commercial property. When I list my properties on this website, I feel like they receive more visibility than they would on any other service. The insights and metrics that LoopNet provides are unmatched and really let you dig deep into who is interested in a particular listing or property. Review collected by and hosted on G2.com.

What do you dislike?

There aren't many things I dislike about this service, however, if I had to choose one, it would be the over saturation of information and sometimes the misrepresentation of information. Some listings aren't correctly filled out by the person entering them into the system, which leaves room for a lot of questions that need to be asked about a particular listing. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you are in the market for a tool that will help with any commercial real estate transaction, LoopNet is the place to go. It's a one-stop shop for any information you would need on any on-market commercial listing. Review collected by and hosted on G2.com.

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

LoopNet has not only helped my current listings, but has also helped me find deals for some of my clients. In regards to my own listings, the feedback and insight that LoopNet provides is unmatched. The system gives you in depth metrics on how your listing is performing in terms of marketing and visibility to people who are interested in your type of property. Review collected by and hosted on G2.com.

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Investor
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

LoopNet is becoming a garbage listings 93% off the listings are c or less properties

They want you to pay hefty fees to view properties that owners pay to list

You best side for multi family is to the listings agents you can find them tru real estate companies listed tru out the country Review collected by and hosted on G2.com.

What do you dislike?

Everything loop net even list single family or condo when it supposed to be commercial Review collected by and hosted on G2.com.

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

Nothing Review collected by and hosted on G2.com.

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Marketing/Office Manager
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

Ability to see commercial real estate listings Review collected by and hosted on G2.com.

What do you dislike?

The cost is outrageous for premium listings and it just keeps going up every year, there is not a better solution on the market. Unfortunately they have the best product out there so you have to keep paying their premiums. Review collected by and hosted on G2.com.

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

ease of marketing Review collected by and hosted on G2.com.

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AR
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

As a smaller firm with few listings not managed by brokers Loopnet allows us to be a right-sized tool. We can also share listings with our joint venture partners. Review collected by and hosted on G2.com.

What do you dislike?

When Costar and Loopnet merged it made a mess of my listings and pulled incorrect (old) information into my account. I also dislike how frequently they make account reps verify listings and request details on closed transactions. I changed my review from an 8 to a 6 because of the changes and constant calls from Costar. Review collected by and hosted on G2.com.

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

It has been a price effective tool for us to promote vacancies with our office spaces. We have had inquires generated from LoopNet. Review collected by and hosted on G2.com.

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AA
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Nothing I don't like the customer service.

Wasted two hours of my day trying to data entry three listing that didn't save. Oh, had elbow surgery two weeks ago so it hurts. Review collected by and hosted on G2.com.

What do you dislike?

Lack of availability of support on the weekend. Not everyone has bankers hours. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you need a reliable and available customer service don't use Review collected by and hosted on G2.com.

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

Trying to lease a office space Review collected by and hosted on G2.com.

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UF
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

Thousand of properties and detailed information for each Review collected by and hosted on G2.com.

What do you dislike?

Need better information for rural properties Review collected by and hosted on G2.com.

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

Conducting real estate research for the sale of investing Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

I like the ease of inserting new properties to the database as well as researching other properties. Review collected by and hosted on G2.com.

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! Review collected by and hosted on G2.com.

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! Review collected by and hosted on G2.com.

What 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. Review collected by and hosted on G2.com.

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Senior Marketing & Research Specialist
Real Estate
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Invitation from G2
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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

What 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. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

The map showcasing the available properties in my community Review collected by and hosted on G2.com.

What do you dislike?

Would like to know how long a property has been on the market. Review collected by and hosted on G2.com.

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

Being able to quickly at a glance find available properties Review collected by and hosted on G2.com.

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UR
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Being able to search for investments properties and find what we want to get more information on. Review collected by and hosted on G2.com.

What do you dislike?

I have been a dedicated user of Loopnet for years. Since the buyout by CoStar the price tripled to $500 + per month. Far more than a multi family investor like myself would ever pay. This is CRAZY high. Run away from this company. Review collected by and hosted on G2.com.

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

We have been able to locate properties across the country that we like with this product. It did solve the past issue of having to spend all day on the phone with brokers looking for properties. This allowed us to grow quicker rather than waiting on the brokers to call us. Review collected by and hosted on G2.com.

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Development, Leasing and Sales Management
Commercial Real Estate
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Loopnet has the largest number of unique visits per month of any property listing service. Review collected by and hosted on G2.com.

What do you dislike?

There is no way to update your own listings. It has to be done through an account manager via email or phone conversation. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

I would recommend utilizing one of the lower priced packages and revolving listings based on importance. Review collected by and hosted on G2.com.

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

I'm reaching out to a much larger database of potential customers. My property listing views have risen exponentially. Review collected by and hosted on G2.com.

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UR
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

It is not useful anymore. CoStar purchased Loopnet and now they cut functionality and try to sell expensive subscription to CoStar. For an owner of few properties it doesn't make sense to pay min. $1,000 per month for something what cost $100 per month. Review collected by and hosted on G2.com.

What do you dislike?

It is not useful anymore. CoStar purchased Loopnet and now they cut functionality and try to sell expensive subscription to CoStar. For an owner of few properties it doesn't make sense to pay min. $1,000 per month for something what cost $100 per month. Review collected by and hosted on G2.com.

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

Commerical real estate sales and leasting Review collected by and hosted on G2.com.

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Realtor
Marketing and Advertising
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Easy to upgrade services. Properties display on Loopnet sites, but nowhere else. No indication of any syndication whatsoever. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Don't expect much. Review collected by and hosted on G2.com.

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

No results from 90 days of service. Review collected by and hosted on G2.com.

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UC
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

What 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. Review collected by and hosted on G2.com.

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Project Coordinator
Real Estate
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

I like that it gives you the control to display your availabilities to other people looking within the industry Review collected by and hosted on G2.com.

What do you dislike?

You can't filter out old ads from when previous companies owned certain locations and advertised through LoopNet or Co-star as well Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Be sure to clear out any ads for properties if your company recently has purchased that location. Review collected by and hosted on G2.com.

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

An easier way to market within the real estate community Review collected by and hosted on G2.com.

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Communications Manager
Real Estate
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

Loopnet is free to use and add your commercial listings too. The dashboard to view your listings immediately shows you how many views each property has. They have amazing customer service that call you to verify information on your listing, and let you know when you're missing information to help market the property. Review collected by and hosted on G2.com.

What do you dislike?

To get maximum exposure, you need to upgrade your listings, which can be extremely expensive Review collected by and hosted on G2.com.

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

We have received leads on our listings from LoopNet, and been able to be seen by a broader range of potential buyers Review collected by and hosted on G2.com.

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UR
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

I love how I’m able to get in contact with a broker through loopnet, which allows me to find other deals before they hit the market. Review collected by and hosted on G2.com.

What do you dislike?

Deals on loopnet are usually overpicked and are the “sloppy seconds” the seasoned investor has passed down after an agent or broker contacted them as an off market agreement. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Use loopnet to meet and connect with brokers. Most deals are overpriced and overpicked. Review collected by and hosted on G2.com.

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

Connecting and networking with brokers and realtors, as well as other investors. Review collected by and hosted on G2.com.

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Do you work for LoopNet?