LoopNet Reviews

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  1. Helpful (2)

    Sad for the current company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    I worked at LoopNet full-time (Less than a year)

    Pros

    Team management is great. Happy hours every Friday. Breakfast Monday and commuter checks

    Cons

    The have doubled price, cut leads in half, opportunity in half and doubled commission. Oh and we compete with the same leads as other parent company reps. Costar purchased loopnet over a year ago, and everything was fine until January. Costar fired 15 reps some based on performance and some not. When asked what metric they used we were told to go back to work. Then we spent 5 days at a conference where costar management basically told us we had no place in their long term plans. When asked management told us we have a job now so go to work. Since then the company has been bleeding personelle with 2-3 people a week leaving. In march there was a pricing discrepancy and when asked management told us to take advantage of that. In April they announce they were going to take commission away for those sales upward of $1000+ for some people. Only when we petitioned to keep our pay checks did costar finally give in. Culture has changed and it is no longer a good place to work.

    Advice to Management

    Build a better communication strategy.


  2. Helpful (1)

    You can do better LoopNet

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at LoopNet full-time

    Pros

    Great location - across the street from ATT park Free Monday breakfast, happy hour every Friday You can make a lot in commission if you work hard Meet some cool coworkers

    Cons

    Bought out by another company so everything is changing rapidly Base pay is very low Glorified telemarketer Company direction is unclear

    Advice to Management

    There are too many of you. You need to be a little more transparent. Its almost like you are keeping secrets and only the ones "in the know" know whats really going on. Quit making huge changes in the middle of the month e.g goals, commish structure etc


  3. Helpful (1)

    Was a great place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    Your co-workers. It is an easy place to make friends and prior to the Costar merger senior management was accessible.

    Cons

    Everything was great until the Costar merger. Culture changed and became extremely corporate. The old management group left and the Costar has sucked the life out of everyone. For a while it seems like the company was losing old timers on a daily basis.


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  5. Not the best sales job out there

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Francisco, CA
    Current Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    I have been working at LoopNet full-time (More than a year)

    Pros

    Good work/life balance. Good training program.

    Cons

    inconsistant managment communication. Absolutely no flexibility with schedules.


  6. I hope you like talking on the phone

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Associate in San Francisco, CA
    Former Employee - Sales Associate in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at LoopNet full-time (Less than a year)

    Pros

    People are friendly Office is close to ball park

    Cons

    Compensation is poor Hours are long

    Advice to Management

    Drinking together doesn't make up for a shitty work environment


  7. Helpful (5)

    Terrible since Costar took over...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Territory Manager in San Francisco, CA
    Former Employee - Territory Manager in San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    I worked at LoopNet full-time (More than a year)

    Pros

    Loopnet is one of the few jobs that will give new hires a chance right out of college and give them sales & CRM experience and a legitimate job selling so that they can put something on their resume. It is the minor leagues of sales and if you are decent at it, you can find other decent jobs in the area that pay and treat you better. Like any sales jobs, Loopnet does pay well to top performers. I have succeeded for a number of months at this company and they have always paid for performance. For that I am grateful

    Cons

    However, recently Costar bought Loopnet out. Since that time, things have really tanked. Other sales reps are a lot of times not 100% clear with the length of term that they are selling and will sneak in the fact that users are signing up for an annual contract. As long as you are a top performer, it seems like mid level management will turn a deaf ear to these tactics. Most of the con comes from the way the senior management treats employees. Back in January, a handful of employees were laid off with no warning whatsoever, even though they had hit their goal the previous months before. When asked for an explanation, the only answer received was "performance issue." Last week, we encountered a price increase with no warning to the sales reps whatsoever. The price of the service has doubled in the last 6 months even though the service has plateaued. Furthermore, the management gives us absolutely no edge to sell over the online price. In fact, there are some services that are less expensive online than through the sales team. No wonder people are lying...they have to manipulate the service in order to get credit for their sales. While I enjoyed my time at Loopnet prior to the merger, Costar is the big bully at the playground. They are corporate, cutthroat, and not a company you will enjoy. There are better companies to work for out there.

    Advice to Management

    My advice to senior management is to not use fear as a motivator and to not only treat the top 5-10 sales reps well. 3 Territory Managers have left in the last 2 weeks and over half the entire sales department are either talking to other recruiters or looking for other jobs. What does that tell you about the satisfaction of the employees? Stop being so money hungry and show a little more care for the employees who are bringing in the money.


  8. Helpful (6)

    cut-throat company that's constantly downsizing...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Territory Representative in San Francisco, CA
    Former Employee - Territory Representative in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook

    I worked at LoopNet full-time (Less than a year)

    Pros

    great coworkers, awesome location, free beer/snacks on Fridays, free breakfast on Mondays, monthly commuter check or discounted parking permit, good to great product/sales training, etc.

    Cons

    As a recent grad I accepted an offer from LoopNet in hopes of launching my career in sales. My start date was October 1, 2012. Two weeks was given for product/sales training followed by two weeks of training on the phones. I finished top three in the October head of class incentive out of 13 new hires. We were told November, December, and January were our ramp months to get us up to goal ($4,000 in revenue, which was changed mid-November to $5,000) by February. I hit my ramp goal in November (70% of goal) and hit over goal in December by 112%. I was on track in January to hit goal again, but was let go on January 11, 2013 for 'poor performance metrics'. That day they let go of 35 employees in their SF, Glendora, and DC office. My coworkers would vouch I went above and beyond while I was at LoopNet. I came into work everyday at 7am, made 150+ outbound calls, never used one day of PTO, and had a performance review two weeks earlier saying I was on track to get better leads and promoted in April if I continue to hit goal. I knew (thanks to glassdoor) prior to accepting my offer at LoopNet, that my job could be terminated at anytime with or without reason. The acquisition of LoopNet by the CoStar Group and finalization of the merge resulted in a 15% layoff at the San Francisco office alone. Two main reasons why CoStar wanted to acquire LoopNet was 1) eliminate the competition between the two companies and 2) utilize the 6M+ users (leads) that LoopNet has acquired. I like LoopNet. It's unfortunate the company is being force to restructure itself to CoStar. Our President of Sales was very loyal to LoopNet and was put in a position to resign to not hurt the company he grew. Now the new President of Sales (a CoStar employee) is making the changes the executives of CoStar want to see. IF my position was to open up again I hope this gives you insight on the company and allows you to address any concerns. Keep an open mind this job is a revolving door.


  9. Helpful (2)

    It use to be a decent place to work...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Services Associate in San Francisco, CA
    Former Employee - Client Services Associate in San Francisco, CA
    Doesn't Recommend
    Negative Outlook

    I worked at LoopNet full-time (More than 3 years)

    Pros

    Your co workers and some free perks are now the only reason anyone would stay at this job now... I help positions in 2 departments for a total of about 3 years and was very impressed in the first year with the company culture, perks and what I learned.

    Cons

    Now that LN has been bought out things have drastically gone down hill- particularly in the Client Services and sales departments ( the heart of the company) Even before the take over ( I say take over because the new co is literally sucking the life and culture out of what use to be a decent place) The mgmt in the client service department was not great. It reeks of favoritism and fear. God help you if you get on their bad side or have any kind of opinion . The pay is meager and they throw a 1-3% raise at you once a year to get your hopes up and preach about the "opportunity to come"as well.( BTW - it never comes) Since they have been taken over there is even less hope. Those same horrible managers are on edge since their jobs are now in jeopardy and they micromanage to the point of almost giving you an anxiety attack. Your questioned about EVERYTHING including using the restroom during peak business hours ( I am not kidding) and to top it off no one speaks up or goes to HR because they are afraid of their managers. Day to day-You are logged into a queue where you take back to back calls of clients ranging from literally teaching them how to turn on the computer to adding a listing. In this role you are made to feel like you must assist the client so fast to get to the next one you not only frustrates you but the clients as well. Management makes this worse by sending you IM's asking what is taking so long... It is like they do not even remember what its like to do the job.. Oh and if your SUPER busy- don't expect them to log in and help take calls to help, they send most of their calls to VM anyway... And that is if they are even present.. Some of them get to work from home 90% of the year... At the end of the day you feel used up and under appreciated in the client service department and that is the upside if your a favorite"- which is blatantly obvious who they like and who they hate ( yes hate). Sales department is not doing much better - but the "review from a top performer" covers that pretty well- so make sure to read that if you are going into sales there.

    Advice to Management

    The only advice I can give to Management in the Client Service department is - GROW UP and stop micro managing, and stop playing favorites-- Do you wonder why more 4 + people have quit or left the department in less than 4 months...


  10. Helpful (5)

    Here is the Truth... from a top performer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Territory Manager in San Francisco, CA
    Current Employee - Territory Manager in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook

    I have been working at LoopNet full-time (More than a year)

    Pros

    -Great coworkers, friendly team, competitive environment, a descent amount of incentives, location next to AT&T park, weekly happy hours with free alcohol, free breakfast on Mondays, free fruit and coffees everyday, comp plan easy to understand, you manage your own book of business.

    Cons

    Let me begin by saying this... I have been with LoopNet for roughly a year and a half, and within that time, I have consistently been a top 5 producer of sales. So, I tell you this, because a lot of people make false claims because they are not hitting their numbers and not making money, so this will allow you to see the opinion of someone who is actually making more money than 90% of the company. - The upper management is extremely sub-par: they make decisions and changes without consulting or even considering the sales team. It is the type of environment where the orders filter down from the top, their is no questioning the policies, it is what it is. Not all, but most of these negatively affect the sales team by making goals higher, but also making it harder to earn more. - The job is a total grind. From 7:30am-4:30pm, you do the same job, calling 100+ people, trying to sell the product. Here are some issues with this. A lot of the leads you are given are bad leads. Some have fake numbers and some have bad email addresses. Unlike most companies, LoopNet does not filter bad numbers or email addresses from their system. For example, you may be given the lead "John Doe or Daffy Duck" with a phone number of 111-111-1111. LoopNet strives on having the most amount of registered users, so it does not require its members to verify their number or email address. This can be very frustrating. Also, many of the people you call, do not understand why you are calling them because they "register" because LoopNet blocks them from continuing on their search unless they fill in their name, number, and email address. So many of these "warm leads" they tell you about, are people who mistakenly come to the site and are prompted to enter this information. - You lose many sales to their "ecom" system. This means that when one of your accounts signs up online, you do not make a commission. Here is the problem: As a sales rep, you are not given a discount to offer, so the client really has no advantage calling you back and giving a credit card over the phone. - Finally... the pay is not competitive. You make a $35k base starting out, after 6-12 months, you can make $38k and after 1.5-2 years, you can make $42k. All of these positions that you are promoted to, you do the exact same job as before. Also, a good sales rep makes about $2500/month in commission; average would be around $1500. Do the math and make your decision. All in all, the place is a revolving door, roughly 10 new hires a month. If you are producing, the management will lay low, but the instant you begin to slip or not hit your numbers, be prepared to have meetings with your regional manager about your numbers.

    Advice to Management

    Read the review and take note. You should consider and value your employees opinions and not make decisions that better the company but hurt the very people that are making the money. Give the sales team advantages over the online rate. But wait.. we all know, that you would rather people sign up online so you do not have to pay commission. This too is why you have your marketing department offer discounted rates to the very accounts that we hold.


  11. A great place to learn and be supporting while learning how to be effective in sales and business

    Current Employee - Territory Representative in San Francisco, CA
    Current Employee - Territory Representative in San Francisco, CA

    I have been working at LoopNet full-time (Less than a year)

    Pros

    the work environment is fun

    Cons

    The pressure of meeting quota



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