From $658 to $2,352 Per Year – LoopNet's Subscription Prices (Should) Have Many Seeing Red

Back in October, CRE-sources posted a story, LoopNet or LoopNot: Brokers Crying Foul Over LoopNet Pricing Increases, which continues to be a popular story among CRE-sources readers. Just last month, nine months after the story was originally posted, it still garnered 60 hits.
Brokers were so incensed that a petition surfaced online at iPetitions.com, asking others to sign in protest of what some were calling price gouging. The petition went live on Oct 6, 2014.  A whopping 70 CRE professionals signed the petition, and, well, LoopNet heard you loud and clear.  Yep, you guess it… they’re raising subscription rates even higher!
Duke Long, Broker/Owner of Indianapolis-based The Duke Long Agency, and author of his, shall we say, ‘spoken from the heart’ blog, recently published a post about the LoopNet hijacking.  (Should you decide to visit Duke’s site, consider yourself warned. Make sure you’re not a prima donna and can handle an f-bomb or two.  I think it’s what I love most about Duke – he couldn’t care less about ‘feelings’ or being PC.)
Below is an excerpt of Duke’s post, based on an email that LoopNet apparently distributed:

It’s a story that never ends.

Thank you for being a valued LoopNet customer. We are contacting you regarding your current Premium Searcher Subscription.

The price of your current subscription is changing from $658.80 to $2,351.52 per year.

This maintains a 20% discount off our current list price of $2939.40 per year.

To continue enjoying full searching access to nearly 800,000 commercial real estate listings, no action is required. The new rate will be effective on your next bill date.

If you have any questions, please contact Premium Client Services at 800.601.8803.

Thank you again for your business,
The LoopNet Team

No Action Required.

You don’t need to do anything.  Just PAY!

The big question, which Duke so eloquently posed, is…
 

How long will the commercial real estate industry allow this to happen?

 
Have an opinion?  A thought on the topic?  Scroll down to the bottom and leave a comment.  Afraid to comment because someone from LoopNet might see your name?  Tell you what… I’ll delete your name and any trace of who you are from the comment and include just your intials before your comment is published.
 

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