- Square Feet - http://www.squarefeetblog.com -
Loopnet Brings More Property Information to the Masses
Posted By squarefeet On September 15, 2010 @ 7:43 am In Trends | 13 Comments
Not too long ago I had a lunch meeting with a client. The building next door to where we were meeting happened to have a for lease sign out front. When I showed up my client had his iPad out, Loopnet open, and looking at the listing, along with a slew of additional information about the property. This is where brokerage is headed, and the internet has and will continue to change the business. I have been saying it for years and it’s becoming more and more obvious every day that as the availability of rapid and on-demand information increases, the value of the traditional broker will undoubtedly fall. This is partly why consolidation has taken place in the industry; getting business by providing some generic “market knowledge” and a canned presentation has become a tough sell. Instead, companies demand first-hand market knowledge, deeper transaction expertise, and deal making ability.
Want to know just how much information is out there? Just take a look at Loopnet to see what sort of data is out there for virtually everyone to see. Aside from adding some new features which allow you to more easily and quickly search for property and comps via an interactive map, it has also added a slew of information that it appears it has gathered over the years from users using its system, as well as data from both third party sources.
New features such as detailed property records on Loopnet allow you to find property history, tax records, ownership history, mortgage/lender history, and tenant information and history all on one page, a huge time saver compared with some of the other alternatives. In addition, by tracking and compiling historical data, Loopnet is able to produce historical pricing data. A sample property record is shown below, and one can only assume that the amount and ease with which additional data can be found on properties and their owners will only continue to grow.
Article printed from Square Feet: http://www.squarefeetblog.com
URL to article: http://www.squarefeetblog.com/commercial-real-estate-blog/2010/09/15/loopnet-brings-more-property-information-to-the-masses/
URLs in this post:
 Tweet: https://twitter.com/share
 Image: http://www.squarefeetblog.com/wp-content/uploads/2010/09/sampleRecord1.gif
 LoopNet Continues to Bolster Feature Set – Will It Continue?: http://www.squarefeetblog.com/commercial-real-estate-blog/2011/07/22/loopnet-continues-to-bolster-feature-set-will-it-continue/
 A News Digest For Today: http://www.squarefeetblog.com/commercial-real-estate-blog/2010/01/27/a-news-digest-for-today/
 AB1103 Takes Effect Soon – Requires Energy Rating Disclosures: http://www.squarefeetblog.com/commercial-real-estate-blog/2009/09/09/ab1103-takes-effect-soon-requires-energy-rating-disclosures/
 Cap Rates Still Hiking According to CoStar and Korpacz Survey: http://www.squarefeetblog.com/commercial-real-estate-blog/2009/03/21/cap-rates-still-hiking-according-to-costar-and-korpacz-survey/
 Government Moving Into Help Finance Construction of Science Parks: http://www.squarefeetblog.com/commercial-real-estate-blog/2009/12/18/government-moving-into-help-finance-construction-of-science-parks/
 : http://www.cpswfl.com/news/adapting-the-face-of-commercial-real-estate/