LoopNet is a commercial real estate online marketplace that connects sellers with potential buyers and other agents. The site was launched in 1995 and boasts more than 5.8 million registered members and 3.6 million unique monthly visitors.
Basic profiles for listing agents are free. LoopNet offers additional services (such as the ability to list more properties) to Premium Members who pay for their accounts. LoopNet has a tiered pricing structure for its paid memberships.
LoopNet has a wide array a features that make the platform very useful and versatile for real estate agents who wish to use it. Even with the basic membership, each property gets its own listing complete with information summaries, photos, links to additional documents, maps and more. Also, real estate agents who use LoopNet can contact people who viewed their listings as well as send out mass emails to prospects. Recently, LoopNet was acquired by CoStar, another listing platform, so now LoopNet Premium Members can have a greater reach for their listings.
While very similar to other real estate portals online, LoopNet has some disadvantages. Analytics of the site have shown that more than 60% of LoopNet traffic is from non-regular viewers. There is also an SEO disadvantage to using listing sites in that your listing builds SEO for LoopNet and not for your own site. And while it is possible to use the free listings, almost every real estate agent would need to pay for a membership in order to list all of their properties.