Submission Number: 00003
Received: 4/27/2012 5:41:45 PM
Commenter: William Dator
Organization: Coldwell Banker Ramsey office
State: New Jersey
Agency: Federal Trade Commission
Initiative: Proposed Consent Agreement In the Matter of CoStar Group, Inc., Lonestar Acquisition Sub, Inc., and LoopNet, Inc.; FTC File No. 1110172
Attachments: No Attachments
At the present time commercial real estate brokers have free access to Loopnet to market their listings and to search for available properties. If they desire full access they can pay a fee for premium access.
Loopnet denies access unless you pay a yearly fee. This would be acceptable but they require that everyone in an office also pay a fee otherwise they will not provide access to Co-Star. In our office we have 2 commercial real estate brokers and over 50 residential brokers.
The Co-Star Loopnet merger will prevent a large number of commercial real estate brokers from access to the market now served by Loop-Net.
Co-Star must not be permitted to require every licensee in an office to pay their fees before they will grant access to the commercial brokers.
This merger will give Co-Star a virtual monoply on how commercial real estate is marketed in the United States and I strongly urge the FTC to fully investigate Co-Star's past actions and future plans. This merger should be rejected.