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Author: long2term Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 240  
Subject: Take-That Date: 12/23/2008 1:40 PM
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I remembre the first recomendation of Loopnet. I then checked out the Loopnet sight for properties in my area (Montréal). I work as a real estae agent in this city so it allowed me be familiar with most of the properties for sale on Loopnet. And I must admit that it was hate at first sight. Here for ridiculous prices where all the garbage properties in Montréal that nobody who knows the market would buy. Properties that have been on the market for a few years and where still not selling could all be found on 'Poopnet'.

This sight, is the 'we're looking for a sucker sight'. Not only that, real estate agents have a sight that is free to all agents to post their properties, where we can find past history of buildings for sale, and most importantly, is regulated by the Real Estate Board of Greator Montréal. Post false information on this sight and you could get finded, or lose your license to work from the Board. Basically, the Board acts as an overseer whose mandate is to serve and protect the public.

On the Poopnet sight people can put what ever they want. If I have a good property for sale, why should I pay to put it on a sight that does not attract other real estate agents. After all these are the people that have the contacts with the buyers, and who recomend the investments.

I believe Loopnet should be axed from the Rule Breakers list because it has no oversight, nor mandate to protect the public trust. I don't care if the company can make some profits for a while, because I feel the concept of Loopnet is flawed. No public trust, no hope for long term growth. In the end I think Loopnet's service smells like .... mistrust. Take-that Poopnet.
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