If you’re looking to purchase your first commercial property then you may be wondering if choosing a traditional commercial real estate broker, Redfin or Loopnet is best for you.

With the advancements in technology, real estate investing has become more accessible thanks to companies like Redfin and Loopnet. Redfin and Loopnet allow investors to find properties all over without having to travel and still make the proper investments.

Both companies compete in the growing space of online marketplace for real estate that has changed the commercial real estate landscape.

While they offer convenience, working with a private commercial real estate firm is still a great option.

So how does one determine which route to take? Let’s take a look at what separates Redfin and Loopnet while comparing commercial real estate firms like VCRE.CO and why it is a viable option in comparison to online marketplaces.

Redfin

Redfin is a full real estate brokerage out of Seattle that started in 2004. The goal of Redfin is to offer lower rates for sellers and buyers. Sellers pay a 1.5% listing fee or 1% if they buy with Redfin. The Sellers rate is roughly half the 2.5-3% rate most conventional agents charge sellers.

Redfin has some flaws that could make the buying process less ideal for someone in commercial real estate, mainly because their brokers work through a technology-centric service model. With Redfin agents, the buying and selling process is less intimate than dealing with a traditional brokerage.

In commercial real estate, hands-on attention is very important. Properties have high price tags and you need someone that can be there for your needs during the buying process.

And the most important reason why Redfin would be an issue, they specialize in home buying and selling, not commercial real estate.

LoopNet

Loopnet is an online multi-listing service for people looking to buy and lease commercial properties. It was created in 1995 and went public in 2006.

Over 50,000-plus listings for commercial properties for sale, lease, and auction are listed on the site and app. The app doesn’t show businesses or franchises for sale like on LoopNet.com.

Investors can find all types of properties including offices, restaurants, industrial space, shopping centers, Multi-family units, and even sports and entertainment properties.

Unfortunately, LoopNet doesn’t offer any real-time service from an agent. Unlike Redfin and other real estate apps, LoopNet doesn’t have any agents to assist in finding, buying, or leasing properties.

Through LoopNet, you can find the properties but in order to finalize the project and buying, selling, or leasing process, you’ll need more assistance.

Traditional Brokerage

At VCRE.CO, we like to think of ourselves as a commercial real estate firm with family values.

While we do not offer an app, we can make the commercial real estate buying leasing, and selling process easier for investors. On our website, we have a strong database of properties in the Western Maryland region. Once you connect with us, we are fully hands-on in getting you through the process of buying or leasing.

While tech companies offer convenience, they are missing the hands-on attention needed in commercial real estate investing. And without the app, we can still offer great convenience because we can find the right match for your commercial real estate goals.

Call us today to set up your appointment! 240.367.9600