LoopNet reviews about "training"

40% positive business outlook

Reviews by job title

18 reviews
2.0
Jan 16, 2013
Recommend
CEO approval
Business Outlook

Pros

great coworkers, awesome location, free beer/snacks on Fridays, free breakfast on Mondays, monthly commuter check or discounted parking permit, good to great product/sales training, etc.

Cons

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.

3.0
Mar 20, 2013

Not the best sales job out there

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Good work/life balance. Good training program.

Cons

inconsistant managment communication. Absolutely no flexibility with schedules.

2.0
Aug 1, 2012
Recommend
CEO approval
Business Outlook

Pros

Great initial sales training, awesome location near the ball park, average benefits, free beer/snacks on Fridays, free breakfast on Mondays, free baseball tickets once a month during the season. Most of the sales team is young with college degrees.

Cons

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.

5.0
Aug 21, 2012

Regarding Loopnet's Sales Department

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

For me the biggest pro I have with the company (besides the amazing perks: happy hour Friday's, random ice cream/chocolate fountain lunch parties, free Giant's games, and countless cash incentives), is the structure. I once worked for a company that lacked order, almost as if everyone was running around like chickens with their heads cut off. Employees were stealing commissions and everyone was willing to throw each other under the bus for a sale. It was stressful, it was dirty, it was chaotic. Loopnet, is not that kind of sales job. There is actual order in the company and although commission is based with your individual sales profit, there is still somewhat of a team attitude. No one is stepping on each others toes and management has a good way of making sure sales are not being stolen. At the same time, the company does not micromanage. From my personal experience, I did the work that was expected and the managers that I worked with not once hassled me after showing up a tad late from lunch or leaving for coffee breaks. Another pro is the training that the Loopnet provides. The company does not just give you a "Loopnet for Dummy's" overview of the company and then throw you out in the sales floor after 5 days of "training" like most companies do. Rather, the training process is very thorough as well as you get one-on-one guidance from individuals that are knowledgeable in their craft. I can firmly say that the training Loopnet provides can actually help you in the long-run by giving you the techniques you need in order to be profitable in sales for any future endeavors. Last, the company provides plenty of growth since promotions are from within.

Cons

If you do not have a thick skin and you truly are not a resilient person, don't even bother wasting your time. I'm not going to sugar coat the job, there are going to be a few clients that will hang up on you (it is inside sales after-all). Let me stress, sales is not for everyone. Although inside sales can be frustrating at times, it can also be very rewarding (specifically financially). Yes, the company provides extensive training. However, you have to be the right kind of person to do the kind of work that Loopnet expects. So I can honestly say that despite the training, there are a few that do not make it and are forced to resign. Numbers are important, obviously. Last, work starts early, around 7AM-7:30AM. On the bright side, you are able to beat traffic/overly-crowded Bart by leaving work before 5PM.

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