There are many reasons property managers don't post their listings on their local MLS.
1) Many MLS systems don't even HAVE a rental section of their MLS. I did not know this until I took a 2-day class from my website provider in AZ last Sept. PMs in the class indicated that although they paid Realtor dues and MLS costs, their MLS system did not accommodate rental listings and there was no "public" website for Realtor rental listings. This is very short sighted * especially in today's real estate market.
2) Many Property Managers don't post their listings because they don't want to deal with Realtors and don't provide a referral fee to Realtors. I have always offered a referral fee for residents and property referrals * I just want to be IN THE LOOP EARLIER rather than later. It only takes a few times being chewed out by a Realtor who did not read your rental listing "remarks" or follow showing instructions to realize that Realtors don't read, think that everyone is on "their time" and that they think of your current tenants as second-class citizens.
Since I provide photos and floor plans on my website, I expect that the Realtor's clients have previewed the property on MY WEBSITE, know the schools, lease terms and rental amount. They should know if the property accepts pets and if there are specific amenities - appliances, etc. that are of interest. Many Realtors don't think that these items are of interest - the tenant will just LOVE the house.
3) Property Managers need to PRIORITIZE their marketing time and posting properties to a cumbersome MLS system is low on their priority list.
This is the reason I rarely post properties on our MLS BEFORE they are vacant. Once they are vacant, I'll put the listing in our MLS and put a lockbox on it for entry. I keep a folder on the property kitchen counter with my application forms, several copies of the property floor plans and current/monthly property listing sheets showing other properties in the area.
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
Central Virginia
LandlordWhisperer
View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans
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There is not enough money in the deal to involve other offices or realtors. We have built our own self sufficient system and do not need any help renting from the outside. Plus, many outsiders would not be happy if we rejected their client after the credit check.
I do pay a referral fee; however, I want contact with the client EARLIER rather than later in the process which many Realtors are not willing to do....and yes, many Realtor offices do not have the capability of vetting would-be tenants and get upset when the clients don't qualify and they don't get the referral fee. They want to argue for their client renting my property when they really want the FEE.
I'm in agreement with Robert, above. There isn't enugh money in the deal AND we are self-sufficient.
We get other offices referring people to us w/o expecting referrals, they just know we will take care of the people.
I also agree that the MLS system is way too cumbersome to be worth my time. And the few imes I have bothered, I have gotten calls from some REALTOR saying "do you know you have a listing for $1000?" and I explain that they didn't READ the listing, that it says FOR RENT, not for sale. Why should I bother?
I'm in total agreement. I've had multiple Realtors tell me how to do my job and how they would do it. They become very offended when their client is not approved. Fact is, they don't know much about their client or history. It's usually revealed during the screening process.
Jo
I don't post to the MLS. It doesn't take that long to find a tenant. Craigslist is more effective anyway.
I find most people don't want to pay the commission to a Realtor so they avoid MLS. Most rentals can be done quickly in the newspaper and craig's list so I don't think they see the benefit of adding it to MLS...