Loopnet vs Broker

[Vikram C.]

I am trying to figure out whether I should subscribe to Loopnet's premium membership or find a commercial broker. My goal is to buy one or more MF properties in the Sun Belt states with decent upside potential. Properties can be anywhere from $500K to up to $2MM or even more.

One advantage of going with loopnet is that I work quite hard and can spend a lot of time being thorough in evaluating all listings, including FSBO listings. I don't think a broker will put in the same kind of effort.

On the other hand, if I can find a really good broker, I can get local insight that would otherwise take me a long time to acquire on my own.

Any suggestions or advice?

[Jon Klaus]

Vikram, I recommend both as well. After you buy what you want, you can cancel the premium Loopnet service. I've had it for a few years and it's helped me learn my market. I also advertise on it.

As for brokers, Dane my commercial broker was extremely valuable in helping me buy an office building, but he doesn't do much multi-family.