Out of the Loopnet
If you’re in the commercial real estate business, you’ve probably heard of Loopnet.
Unfortunately, Loopnet is for a large part a morass of unsaleable real estate. If you’ve ever panned for gold, you’d have an idea how difficult it is to find a worthwhile investment opportunity on Loopnet.
One reason? It is loaded with property that is unlisted and that agents have no right to be offering. Why? Loopnet isn’t in business of qualifying these listings. They’d prefer to be able to brag about having “$425 billion of properties for sale.”
I have never sold a property in 10 years through Loopnet. I continue to use it because I feel like I owe it to my clients to give their properties the widest possible exposure.
Here are 10 better ways to make deals, whether you’re looking to to buy or sell property:
1. Craigslist
2. Direct mail
3. Costar - they do a better job qualifying listings
4. Contact owners directly by mail or phone
5. Newspaper advertising
6. Email blasts to broker lists like ccim.com
7. Door to door canvassing
8. Build your own web site and buy google adwords to promote it
9. Contact the top investment sales brokers in your market, meet them and court them
10. Track foreclosures
Tags: commercial, costar, loopnet, property
