I Am The CEO of Loopnet!

by dukelong on October 26, 2010

Ok, I am not really the CEO of Loopnet but, what if I was. I have a few ideas,suggestions,thoughts and questions.

- Let’s start with if it ain’t broke don’t fix it. Or, if I don’t break it we may not be around to fix it!

-Don’t look at our data base of brokers as a source of revenue look at them as a source of information and data that leads to revenue.

- The building data base, as in the” building is the data base”.  What is the “data wall” define the barriers and set the standard.

- Get rid of historic and data comps…discuss that one among  yourselves please.

- E- Property Data and RPR …I will crush you! …or I will get a condo in Boca and….  find  a foursome to play with.

- Mobile and the street will be my base.

- Marketing platform: Aug reality, Qr codes, Ipad, mobile apps.

- I- pad apps that feed back the data from the street. In real time.

- QR code platform that puts loopnet data into all collerateral material,for free.  Make brokers love us.

- QR code platform for all Loopnet users free,with video tutorial and case study of why and how it works.

- Trulia is already doing it for residential real estate.

- Create Loopnet brokers in all markets with real time access to “street” Loopnet data.

-Pick 5 brokers in market and make them write, video cast,podcast, blog,create content and do something every week to feature the market.

- Rotate the brokers out to get fresh points of view/incentive is the abillty to put their name out as expert or show they are an idiot in the market..it’s gold.

- How do we get them to give up the data, simple we are Loopnet and already have it. The brokers will not only enhance they will make it even better = true and accurate.

- Hyper local info for commercial real estate.  Non-CRE examples: Curbed, Everyblock, etc.  Create the category.

- No one and I mean no one has platformed the hyper local for cre= domination of local content and data for the markets=effin $$$$.

- Phase out and abandon forms and static reports.

- Must do or watch someone do it instead and make us obsolete.

- Move data to other industries but keep tied to the building itself.

- Start today and launch an all out blitz to integrate  prop mgt, archeticts,engineers,cotractors/hvac/elec/ appraisers and so on and so on.

- Get them on loopnet NOW , find a reason give them the moon, for FREE.  Make them interact and do something but start, NOW!

- Oh, and make sure the BS sales pitch crap stays away …do I like lenders ?????

- Create a true standard with OSCRE.org ??  Be “THE” brand for that data standard.

- Fund a BIM database becuase someone will and whomever owns the data  is the $$.

- BIM be the first be the one in the pool.  Who do I get to partner? NOW!

- Research is a joke.  LoopLink  and online products are awesome.

- How much income from LoopLink vs. Premium vs. Comp/Historic Sale??

- Someone will give the data from two of  these out for free.  Which one do I defend?

- Web site changes.  This Duke Long guy is a genius!

- Fund a trip to Richard Bransons island for a breakout session. Staff, they get two days, I get 2 weeks, Seems fair!

Well, not bad for a days work.  Simple to do list?  Pie in the sky? If you were the CEO of Loopnet what would you do? Thoughts?

Comments

  • http://mosatlanta.com Patrick Braswell

    Duke,

    Love it as always. FYI – Check out the new email. Let’s catch up soon.

    Patrick

  • http://CREPIG.com Bob

    Does it really matter? For all intents and purposes, LoopNet is the resource of last resort. If you don’t own it, or control it, or can’t sell it, then you stick it on LoopNet. It’s the place where you hope someone will trip over it, not find it. What would compel them to worry about quality when quantity is their essence.

    • http://dukelong.com dukelong

      Bob,
      I do think they have a chance to be THE dominant player for CRE online. I would love a guest post from you about why you think otherwise.

    • Square Feet

      Somehow this whole notion of pocket listings is still out there. Everybody has their own philosophy, but if I really want to sell something, I want everybody to know about it.

      • http://dukelong.com dukelong

        Amazing is it not….!

  • Bob

    Don’t get me wrong, LoopNet is a wonderful repository, but I believe in the industry we will see going forward, we will need more than that. If “searching” were the be-all end-all, then perhaps you’d be right. But I think even google would argue that now that we’ve googled everything there is to google, we are looking for content. And information, in an of itself isn’t valuable to the masses. It requires interpretation, coordination, and compilation in order to be credible, valuable and viable. To that extent, there are other services that have been working on the depth and breadth of their content for years, and are light years ahead of Loopy, albeit far more costly to use. My guess is that for Loopy to reach that higher plateau, they’ll need to adjust their pricing structure up. In the interim, the other company(s), in order to garner more users, will be adjusting their pricing downward. There is certainly a middle ground to be won, and I believe that whoever gets there first, will win.

    • http://dukelong.com dukelong

      Bob,
      Agreed. I think they have a chance.In the post I put in several ideas I thought they needed to do or become obsolete. What is fantastic is that I have 0 accountability for any of them. :) Good luck to them and …hey it’s fun to sit in the big chair and speculate!

      • Bob

        Ha! You should see me on Monday morning.

  • http://BarrettPowell.com Barrett Powell

    I’m down for the break out session :>).

    Duke, you hit the nail on the head. Both commercial and the residential exchanges (MLS) see brokers as pawns, to be dictated to and raped for every penny. Why not look at us as partners?

    I am working on a new CRM app that ties in your website, social media, news, demographic and gis data, customer, and property data in one location. The idea is to create a portal where you go for everything you need.

    I have one of the largest commercial real-estate firms as a client. The biggest challenge is trying to work with the exchanges. I have setup a Property module that uses XML and other feeds to import property data in from different exchanges. Everyone is afraid to share their data. They don’t understand that if you make the data available to more areas for more uses, they will see their service grow and find additional revenue streams.

    No instead they would like to sit back and continue to rape the broker community over the coals for every penny. Oh, and don’t forget to bring your data!

    • http://dukelong.com dukelong

      Barrett,
      Soldier on and send me the link!!!…. Thanks for your comments and opinion!

  • Pingback: commercial real estate, co star,loopnet, tenants | Duke Long

Previous post:

Next post: