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CoStar Database Now Powers LoopNet

The integration between the two databases, completed this past Friday night, will mean “being able to focus LoopNet on what it does best,” CoStar CEO Andrew Florance tells GlobeSt.com.

By Paul Bubny | paulbubny | Updated on October 09, 2017

Andrew Florance of CoStar Group Florance says just 0.1% of LoopNet users regard it mainly as a traditional professional information tool.

WASHINGTON, DC—Effective this past weekend, CoStar Group’s database has been integrated with that of Its listing service, LoopNet. Although LoopNet has been under CoStar ownership since 2012, they’ve maintained two “separate and distinct databases” since then, CoStar’s Rob Cain tells GlobeSt.com.

In part, that was due to the fact that “CoStar and LoopNet actually speak to very distinct audiences,” says Cain, VP of product management with CoStar. “At its heart, LoopNet is a marketing platform that is primarily intended to reach an audience of end users including smaller investors, and real estate professionals will market their listings to that audience through LoopNet.” By contrast, CoStar’s subscriber base is comprised “almost entirely of commercial real estate professionals: brokers, appraisers, larger owner/investors, lenders, etc., who want higher-quality verified research data.”

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