The building, currently occupied by Albertsons, was part of a trust located in Dallas, TX. It drew serious interest from a buyer in New York, NY. Letter of intent in hand, Mr. Smith was working on finalizing the deal when he got a call from a broker in Los Angeles, CA representing a buyer in Tel Aviv, Israel: “They made a cash offer and beat everyone to the punch.”
The fact that the final offer was made within 3 weeks of posting on LoopNet was not a surprise to Smith. “I was working with approximately 12 serious potential buyers all sourced from LoopNet,” says Smith. “LoopNet is the way you get business done in the Midwest. I get calls several times a week from potential buyers that have looked at a property I added to LoopNet.”
Smith credits LoopNet’s Premium Membership product with providing the advantage listings need to command attention from serious buyers. “When I see a premium listing, I know someone thinks this property is worth something,” says Smith. Having worked with owners who make premium exposure on LoopNet part of the contract, a premium listing signifies confidence and value to Smith.
Widespread exposure to serious buyers is often the first obstacle to completing a transaction in today’s marketplace. “If it wasn’t for LoopNet, this deal wouldn’t have happened,” states Smith.
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Premium Listing is the answer? I better try it. Nothing else is working so far. Of course the market doesn't help!
Loopnet is by far the best source of commercial buyers out there. If you have a commercial listings and put it on loonet you will see results, and fast. This shows the power of the internet and the reach of this site.
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