LoopNet reviews about "breakfast"

Let me begin by saying this... I have been with LoopNet for roughly a year and a half, and within that time, I have consistently been a top 5 producer of sales. So, I tell you this, because a lot of people make false claims because they are not hitting their numbers and not making money, so this will allow you to see the opinion of someone who is actually making more money than 90% of the company. - The upper management is extremely sub-par: they make decisions and changes without consulting or even considering the sales team. It is the type of environment where the orders filter down from the top, their is no questioning the policies, it is what it is. Not all, but most of these negatively affect the sales team by making goals higher, but also making it harder to earn more. - The job is a total grind. From 7:30am-4:30pm, you do the same job, calling 100+ people, trying to sell the product. Here are some issues with this. A lot of the leads you are given are bad leads. Some have fake numbers and some have bad email addresses. Unlike most companies, LoopNet does not filter bad numbers or email addresses from their system. For example, you may be given the lead "John Doe or Daffy Duck" with a phone number of 111-111-1111. LoopNet strives on having the most amount of registered users, so it does not require its members to verify their number or email address. This can be very frustrating. Also, many of the people you call, do not understand why you are calling them because they "register" because LoopNet blocks them from continuing on their search unless they fill in their name, number, and email address. So many of these "warm leads" they tell you about, are people who mistakenly come to the site and are prompted to enter this information. - You lose many sales to their "ecom" system. This means that when one of your accounts signs up online, you do not make a commission. Here is the problem: As a sales rep, you are not given a discount to offer, so the client really has no advantage calling you back and giving a credit card over the phone. - Finally... the pay is not competitive. You make a $35k base starting out, after 6-12 months, you can make $38k and after 1.5-2 years, you can make $42k. All of these positions that you are promoted to, you do the exact same job as before. Also, a good sales rep makes about $2500/month in commission; average would be around $1500. Do the math and make your decision. All in all, the place is a revolving door, roughly 10 new hires a month. If you are producing, the management will lay low, but the instant you begin to slip or not hit your numbers, be prepared to have meetings with your regional manager about your numbers.

As a recent grad I accepted an offer from LoopNet in hopes of launching my career in sales. My start date was October 1, 2012. Two weeks was given for product/sales training followed by two weeks of training on the phones. I finished top three in the October head of class incentive out of 13 new hires. We were told November, December, and January were our ramp months to get us up to goal ($4,000 in revenue, which was changed mid-November to $5,000) by February. I hit my ramp goal in November (70% of goal) and hit over goal in December by 112%. I was on track in January to hit goal again, but was let go on January 11, 2013 for 'poor performance metrics'. That day they let go of 35 employees in their SF, Glendora, and DC office. My coworkers would vouch I went above and beyond while I was at LoopNet. I came into work everyday at 7am, made 150+ outbound calls, never used one day of PTO, and had a performance review two weeks earlier saying I was on track to get better leads and promoted in April if I continue to hit goal. I knew (thanks to glassdoor) prior to accepting my offer at LoopNet, that my job could be terminated at anytime with or without reason. The acquisition of LoopNet by the CoStar Group and finalization of the merge resulted in a 15% layoff at the San Francisco office alone. Two main reasons why CoStar wanted to acquire LoopNet was 1) eliminate the competition between the two companies and 2) utilize the 6M+ users (leads) that LoopNet has acquired. I like LoopNet. It's unfortunate the company is being force to restructure itself to CoStar. Our President of Sales was very loyal to LoopNet and was put in a position to resign to not hurt the company he grew. Now the new President of Sales (a CoStar employee) is making the changes the executives of CoStar want to see. IF my position was to open up again I hope this gives you insight on the company and allows you to address any concerns. Keep an open mind this job is a revolving door.

If one of your customers that you have been working on for any amount of time signs up online instead of over the phone with you, you will get no credit and this happens a lot. You also have to tag all of your leads once every 30 days or another rep might get the sale or if the client calls in to sign up you will get nothing. If a client has a duplicate (two) account the first person to call them gets the credit not matter who did the work or what account gets upgraded. They do not want you chasing/closing big deals or working with any customers who are already premium members. You can not upgrade/up-sell current members to better products.The system is also designed to reward the top reps with inbound sales calls as well as better leads. But if everyone got the best leads and inbound phone calls there would not be enough to go around so they keep the quotas high and the door revolving. They also do not give you any discounts to sell with, you pitch the same price that your customer sees on the website. The system also strongly resists change. The pay is not very good even if you are a top 10. Real young atmosphere - lot's of egos, gossip, drama. Upper management will lie about all the future opportunities and dangle carrots in front of you when nothing is ever going to present itself. There is not much of a career path, you do not want to be there long enough to get to Senior Territory Manager. You have to clock in and clock out or risk losing any incentive pay outs. They will teach you to be agressive, talk to the decision makers, make them feel uncomfortable, and go for the hard sale, but you run the risk of getting in trouble for doing any of these things. Once you finish sales training you will not have much support after that, they kind of throw you to the wolves and it is up to you to succeed or not.

A bit micromanaged, but you'll get over it. They'll turn and burn you, hopefully you can learn something before they let you go, hopefully you'll last long enough to pad your resume for your next spot.

Half of management is on the east coast which makes meetings and project coordination a challenge

They have stick goals on Sales that are at time very hard to meet. they need more of a tier base. Also better regulations on their sales tactics.