LoopNet vs Crexi vs CoStar: Finding Your First Real Estate Brokerage Office
Stepping up to own your real estate brokerage means finding a professional office for your new firm. This space will be your base for meetings, paperwork, and growing your team. Knowing which platforms like LoopNet, Crexi, and CoStar actually list suitable commercial properties is key. This guide helps new real estate agencies find the right office efficiently, explaining what each tool offers for free users versus paid subscribers.
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The Quick Answer
For your new real estate brokerage, begin with LoopNet. It's free to search, offers the most listings for small office spaces (think 500-1,500 sq ft for 1-5 agents), and connects with CoStar information. Use Crexi to catch any office listings missed by LoopNet, especially if you're setting up in growing areas outside major cities. CoStar is too expensive for a new brokerage just finding its first office; its cost ($400–2,000+ per month) is for large commercial investment firms, not for a small real estate agency looking for its own base.
Side-by-Side Breakdown
LoopNet: Free basic search for office space. Paid plans cost around $130–300/month, but usually aren't needed just to find your own agency's office. It's the biggest public listing site in the US, owned by CoStar. Good for finding office suites or co-working spaces. Crexi: Free to search with landlord contact info shown for basic listings. This means you can reach out directly. It's strong in western US and growing everywhere else. Its map search is easy to use, and some free tools can help you see average office rents in an area. CoStar: This tool is very expensive ($400–2,000+/month) and not for a new real estate agency seeking its own office. It's for big commercial brokers and investors who need deep data like past lease rates and properties not publicly listed. You won't use it to find your first brokerage office.
How to Use LoopNet as a New Real Estate Agency
As a new real estate agency, LoopNet's free access provides enough detail to start finding your office. You'll see available properties, their size (often 500-1,500 sq ft for a new firm), basic rent prices, and listing broker contacts. This is usually enough to build a list of places to check out. Use filters for "Office" property type, set a size range that fits your team (e.g., 500-1,000 sq ft), and a price per square foot. Save these searches and set up email alerts for new office listings in areas where you want to operate.
When to Work Directly With a Commercial Tenant Broker
Even though you're a real estate professional, working with a commercial tenant broker to find your own office space is smart. Landlords typically pay this broker's fee, so it costs your new agency nothing. A good commercial tenant broker understands market specificities (like office zoning or signage rules), knows about suitable office spaces not listed online, and has connections with commercial landlords. They can also help negotiate lease terms, which differ from residential deals. If your agency plans to be in its office for more than a few months, getting a tenant broker on board is a wise move.
The Verdict
For your new real estate agency, start by using LoopNet to do your own research and find initial office options. Add Crexi to your search, especially if you're looking for office space in suburban or secondary markets. Once you have a few office locations you like, bring in a commercial tenant broker. They can help you access CoStar data for deeper market insights (like average rent for similar brokerage offices) and negotiate lease terms. Always have a commercial real estate attorney review any lease agreement before your brokerage signs it.
How to Get Started
1. Visit loopnet.com. Filter for "Office" property type, choose a size range (e.g., 500-1,500 sq ft), and your desired location. Save this search to get email updates. 2. Repeat this search on crexi.com to find additional office listings. 3. For each office space that looks promising for your new brokerage, contact the listing agent to get more information and set up a visit. 4. After touring 3-5 potential office locations, decide if you want to bring in a commercial tenant broker to help with negotiations and deeper market analysis. 5. Before your real estate agency commits to any lease, have a commercial real estate attorney review the entire document, including all attachments.
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FREQUENTLY ASKED QUESTIONS
Is LoopNet free to use?
LoopNet offers a free search tier that shows listings, basic details, and broker contact information. Paid plans ($130–300/month) unlock full property details, demographics, traffic counts, and saved search alerts with more data. For most small business tenants building a shortlist, the free tier is sufficient.
Why do some commercial spaces not show up on LoopNet?
Some landlords, particularly smaller local owners, do not pay to list on LoopNet. Some spaces lease through word of mouth or tenant networks before hitting any listing platform. A local commercial broker has access to these off-market availabilities through CoStar and direct landlord relationships.
How do I know if the asking rent is fair?
Ask the listing broker for comparable lease data in the market. You can also search recent LoopNet and Crexi lease comparables in the same submarket. For a more rigorous analysis, a tenant's broker can pull CoStar lease comp data for free as part of their representation service.
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