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Has anyone used LoopNet.com to market a space for lease?
I’m a commercial real estate agent in the Topeka, KS area, and am considering putting my properties & profile up on LoopNet.com. Has anyone used this service before? Have you found it useful? Are there any other real estate sites that I should join to help increase my business?
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4 Answers
I've used LoopNet for all my commercial real estate properties for sale and lease. It's free to list so just give it a try and see how it works. Then you can upgrade your listings for more exposure, if you want.
Thanks for your response, John. That sounds like a great idea. Do you use any other free tools to list your properties? Or are you a part of any groups that give you benefits for being a member? Thanks again
Ryan, We use Loopnet as well as CoStar for all of our properties. My experience is that Loopnet has been most effective with office and industrial properties, where CoStar has worked better for retail properties. I believe it not only helpful, but essential to have your properties listed on these sites, as many brokers use these sites almost exclusively to survey the market for their clients who may be looking for space. As well, for our smallest spaces (under 1500 SF) we have even used Craigslist. I will warn however that Craigslist will produce leads with little-to-no credit who expect shorter lease terms, but in this current market, any lead may be a cherished one.
Ryan, I had lunch with a broker yesterday who informed me that many are moving away from CoStar to Xceligent, noting that it is 20% of the cost (to the broker for membership) and more comprehensive (more information). As an owner, you can list your properties on all of these sites for free, as they all want the most complete inventory database they can achieve. I personally put my spaces and client spaces on all databases available.
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