Commercial Real Estate Platform Reccomendations.

[Jason Lavoie]

I have seen quite a few CRE platforms (Loopnet, Reonomy, Crexi etc.) and all have horrible ratings with the Better Business Bureau.

What does everyone here use as a reliable source of info to prospect and be able to do due diligence? When diving into this world, i don't want to get caught with my pants down! 

[Chris Mason]

The Boomer Business Bureau isn't a credible source of information.

Loopnet and Crexi are the industry standard consumer-facing sources for CRE. Your due diligence is when you hire an inspector, when you review the estoppels, etc. Beyond the scope of what a general listing website does. 

If you read the 1-star reviews on BBB for Loopnet, for example, it's a bunch of apartment renters pissed that their water heater is broken and stuff like that. Blaming Loopnet for an allegedly bad property manager is like blaming Zillow for an allegedly bad realtor...

I'm sure if Loopnet was stupid enough to give ransom money to BBB, BBB would take down the bad reviews and un-filter any good reviews (which is the entire business model of BBB).

[Adam Bartomeo]

The BBB is a scam. They try to hold you hostage to get fees. I wouldn't use them as a creditable source for any ratings. I trust Google more.

We use Costar, which owns Loopnet and sometime we use Crexi.

[Henry Clark]

OP you mentioned to prospect and due diligence.  Use the sources noted above.  Using Loopnet or Crexi identify the top Commercial agents in that market for your type of investment.  Get to know them and note your Buy Box.  They will be your best source for Due Diligence to begin with.  Always use a Buyers agent, if you find a property on your own.  Use your local Property Tax GIS website to get further info.  After that, you need to develop a checklist for looking at properties.  No one else is going to help you with Due Diligence.  Get caught with your pants down on paper first, it costs less.  You have to fail first to learn.

[Ameet Mehta]

Wow, can’t believe Crexi was trashed on BBB. I wouldn't be so sure to trust their ratings though. My advice: stick to Google Reviews. I can’t say about Loopnet but Crexi is a good platform. In fact I know a few people who have had good experiences with Crexi. You can also try SponsorCloud. They have this feature where the investors’ accreditation status verification is automated. This has made the prospecting and due diligence process much simpler. And hey if you do try Loopnet let us know how your experience was.

[Graham Rider]

There are no golden bullets for platforms. I use reonomy quite a bit and it is useful but not perfect same with all the others. Loopnet and Crexi are where most things will be posted if the agent is commercial and its on the market. Get familiar with your county property records and track the business journals relating to your market notable transactions will be noted there.