LoopNet vs Crexi: Which is Better for Net Lease Property Sales?

In this video, we take a deep dive into the comparisons between the leading commercial real estate marketplace platforms, LoopNet and Crexi.

When it comes to buying and selling netlist real estate it’s all about location location location i’m not talking about the physical property location i’m talking about the websites used to market and sell these properties nationally the internet has completely changed the way real estate is bought and sold and in this video we’ll look at the main websites used

To buy and sell net lease properties and ultimately try to determine which one is the best for the net lease industry i’d like to preface this with the fact that this is an unsponsored video and all opinions are my own based on my own experience from several years of net lease brokerage and investing so i’m going to be comparing two platforms in this video for

The sake of time there are dozens of sites used to market net lease properties and maybe five or six which are actually good for getting deals done with that being said though there are two main sites which stand head and shoulders above the rest so i’m only going to look at those two which are loopnet which is owned by costar and crexie which is a relatively new

Company in the space in a perfect world i would do a screen share and show you the main differences but much of what i want to show you is subscriber content and i don’t really feel like getting in trouble with either of these companies so let’s just talk about it all right first things first let’s take a look at the histories of these two companies which is an

Important place to start to begin to understand the differences between the two loop that started in 1995 so it’s basically as old as the internet itself it was purchased by costar in 2011 for 860 million dollars and is now one of the 22 real estate marketing brands under the co-star flag corexy was founded in 2015 by a guy named mike diorgio i hope i’m saying

That right who previously was at what is now 10x which is a commercial real estate auction platform for name recognition loopnet gets a point here it’s five times older and more established the reason that matters is for example when i go to sell a property a lot of my older clients want to make sure i’m using loot net to do it because for the longest time that’s

The only thing that they knew all right next let’s talk about user interface loopnet is 25 years old and honestly it looks and runs like a 25 year old website still it’s pretty slow and buggy and quite often when i use it i get error messages and have to refresh the page correctly on the other hand is newer and therefore very streamlined very user friendly and

I get no bugginess definite point for crexie here all right now let’s take inventory of the inventory i was actually a bit surprised by this i thought that loopnet was going to be the clear winner but i don’t think that’s the case you can’t see how many properties are listed for sale on net at this moment in total but if you go to their information and marketing

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Page they show that there’s been 1.1 million properties that have been marketed on their site and over 1 million properties sold crexie does have a live counter and as i’m recording this video there are just over 125 000 active sale listings on the site i can see them all right here one by one if i wanted to so to try and put that in perspective if we take loop

Net’s total number of properties marketed 1.1 million and annualize that over the same amount of time that correct c has been in business that’s only a hundred and eighty three thousand listings added per year to correct these 125 000 on the market today if we did that same math over the 25 year life of luke net that’s only 44 000 properties a year that’s not a

Perfect example but it does speak for itself let’s actually take that a step further with a real-time example i’ve just run two concurrent searches here for texas single tenant triple net investment properties loopnet only had 203 results and crack c has 281 hits for the sake of accuracy i even went as far as going through each page one by one to make sure that

All the results were in fact single tenant net lease properties and sure enough craxy wins i ran the same search nationally for the past 24 hours and loopnet only produced 27 net lease results to correct c’s 37 so clearly cruxy is much more of a player than i initially expected given that their current inventory is richer than loop nets and they’re only 150 age

I think the market is spoken for itself here all right next let’s take a look at cost so both platforms are free to post and browse listings but each one offers certain perks with a paid membership crexie is the easiest one to look at here because they are just so simple a paid crexie license is 400 per month which gets you the added bonuses like comps data lead

Generation and a few other treats as well that’s a flat fee i don’t see anything on the website about paid ads or up charges to rank your property higher in the search in fact the only ranking on the site is based on the completeness of your listing so users are encouraged to add as much data as possible because it only increases the exposure that and it gets

You unlimited listings with crexie which is not the case with loopnet i actually saw an interview with the ceo from 2020 where he stated that the goal behind corexi was to create a platform that was as free as possible and less of a pay-to-play model they accomplished this through a lot of ai and machine learning where much of loopnet’s data has always been user

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Generated now loopnet on the other hand is the exact opposite in many ways it’s free to list and search but on the listing side they have a basic silver and gold listing package basic is free and silver and gold require you to buy what they explain to be a parking spot on the site so you have to buy as many parking spots on long term contracts as listings you want

On that high level exposure a single silver slot is 178 dollars per month on a long term contract if you have say 10 silver listings one month in the next month you’ve sold half of those guess what you’re still paying for those silver listing spots as long as you’re under contract same thing with gold except gold is a six month contract for 599 dollars per month

For one listing the reason this matters is because your search results are ranked based not on how accurately they match your search but based on how much the guy listing them was willing to pay to be at the top of the results and that’s right here on their marketing website i’m not assuming anything or making anything up here to me that’s not designed with the

User in mind and it’s just a huge flaw and here’s why i currently have about 14 listings on the market 12 months ago we were in a global pandemic and i think i had maybe three or four over the course of the summer so we had to up our silver listing count over the past year with the long-term contracts to accommodate more new listings if i do my job and sell

All 14 of these properties with no more left guess what we’re still paying for 14 licenses that aren’t getting used all that does is make it harder for me to afford listing properties and discourage brokers from paying more for exposure when they get more business major point here for craigsy all right let’s pivot here for a minute to search functionality more

Specifically how accurate are the results that you’re given based on your search criteria we already know that loopnet prioritizes searches based on who has the most dope but let’s ignore that for a second and just look at search results now i know that corexy is better here because i use both platforms every day if you don’t have access to both then i’m going to

Paint a picture here using the same example from earlier i’m doing a search for single tenant netlist properties only across the entire us and i’m going to count how many results on the first page are not true single tenant net lease properties first off crexi returned 167 results and loopnet only produced 107. from the first 60 listings loopnet produced 12 that

Were not single tenant net lease properties there’s a large power center a mobile home park a duplex and several vacant properties that popped up for whatever reason crexia only produced two non-single tenant net lease properties one was a restaurant business for sale in florida and one was a multi-tenant office selling individual condos i’m honestly a little bit

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Shocked by this i knew that i already liked crexie better but having the data to back it up is pretty remarkable all right next let’s compare comparables i’m talking about sales comps i actually didn’t even realize this when i started prepping the video but loopnet itself doesn’t have sales comps because the sales comps are run through costar which if you were

To get it just for the comps alone it would run you about 500 bucks per month for one license in addition to what you’re already paying for loopnet now costar does have the all-time greatest comp database going back over 20 years but comps are only really valuable for the most recent three years 12 months to be more accurate craxy does have comps included not

20 years worth but now a few years worth which is more than enough to get the data that you need and it comes standard with the regular subscription crexie wins this just because loop net itself doesn’t have comps but if you were to pay another 500 a month for costar the data is probably not too dissimilar point prexy so i really did walk into this open-minded

I knew that i liked craxy better if i’m being honest but i really did expect loopnet to have a better inventory and put up more of a fight now we can plainly see with data that that’s not the case if i had one choice for my business it would be craxy no doubt it’s cheaper for what you get easier to use and has many better features many of which i didn’t even

Mention and support staff as infrequently as i’ve needed them have always been incredibly helpful today i’d say about 80 percent of my business is conducted through correct c alone and i honestly just don’t need loopnet anymore to do what i do and run a successful net lease brokerage business i also know several regional net lease brokerages who feel the same

Way and have completely cancelled their co-star loop nest subscription and only use corexy now it’s very clear why if i didn’t have a large firm paying the bills for me i would probably be doing the same alright so i hope this information has been helpful and more importantly helps you investors get more deals done for more information on things like this visit

Netleasebeast.com and subscribe to our youtube channel where we release new videos each week as well as our weekly newsletter where i personally put more content like this in your inbox along with a few other treats as well you’re also welcome to reach out to me directly if i can ever help you regarding any of your real estate needs that’s all for today and we’ll see you next time

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LoopNet vs Crexi: Which is Better for Net Lease Property Sales? By NET LEASE BEAST