Loopnet moves beyond listing when adding property information

Loopnet, the US based listing service for commercial properties on sale or for lease (in the US) has moved beyond listings and started in late May to roll out a beta version of property information. 

Introduction to the service

A video from Loopnet's presentation at RECon last week in Las vegas. 

The information 

The property record (click here to see an example) includes data like:  

• Owner & Tenant Details
• Mortgage & Lender History
• Tax Records & Assessed Values
• Historical For Sale & Lease Information
• Property Details & Photos
• Asking Price & Asking Rent Trends

The database covers all commercial property types nationwide, including over 5 million properties. 

"We are very excited to deliver the LoopNet Property database of more than five million commercial properties to our clients. Delivering a 'high-quality, alternative source for commercial property information at an affordable price' is the number one request that we have heard from LoopNet clients for many years," said Thomas Byrne, LoopNet's President and Chief Operating Officer.

The service will be free for Premium users. 

My thoughts

For sure an bold strategy to move into the field 'owned by' CoStar (two companies that have a history together). Will be most interesting to follow.

Finally, I bet quite a few in the market will smile at LoopNet's slogan "Property information that opens your eyes, not your wallet". It's brilliant. 

Additional reading 

More is found at PropertyPortalWatch, The Journal record, Wikipedia, LoopNet's pressrelease and blog.