LoopNet Launches CoTour to Conduct Virtual Tours in Real-Time

WASHINGTON--(BUSINESS WIRE)--LoopNet – the most heavily trafficked commercial real estate marketplace online – launched CoTour, a virtual co-browsing space for tenants, owners and brokers to conduct business online, in response to the current needs of customers and the industry.

At a time when in-person tours are not able to happen, LoopNet and its CoTour tool allow key decision makers to meet and tour properties in real-time, enabling business to be conducted virtually. The real-time viewing and conversations about commercial real estate properties are powered by strong video and sound quality, adding value to those looking for the perfect space or the ability to tell their property’s story. Registered LoopNet users can invite up to 20 participants, who do not have to be registered, to view a property in real-time in the private and secure meeting room.

With CoTour co-browsing technology supplementing the 3D virtual tours, HD video tours, aerial drone videography and architectural photography already existing on LoopNet listings, the platform continues to enhance the search process and value for tenants, owners, investors and brokers. LoopNet plans to monitor adoption of CoTour and user feedback to shape the future of the product.

LoopNet’s marketplace covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties and investment properties. In April 2020, 6.4 million tenants toured properties on LoopNet, which is up 61% from the prior month. With 88% of potential tenants and investors searching for commercial real estate space online, LoopNet has become essential to those marketing properties. Listings on LoopNet receive unprecedented access to the professional commercial real estate community and unmatched exposure to the largest actively searching tenant and investor audience.

For more information about LoopNet and the new CoTour virtual co-browsing tool, visit LoopNet.com.

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality sector. LoopNet is the most heavily trafficked commercial real estate marketplace online with over 6 million monthly unique visitors. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of approximately 55 million unique monthly visitors in aggregate in the first quarter of 2020. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe, Canada and Asia with a staff of over 4,200 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.