Should I pay Realtor 5% to rent out my SFR? or post it online myself?

8 Replies

I am trying to rent out my SFR for $3000 right now. My plan was to take pictures and post it on Postlets (which in turn posts it on Zillow, Triulia, Craigslist, etc) and do the screening myself

However, my Realtor kept saying that he can get better results because he has the ability to post it on MLS. He wants to charge a fee of 5% of my 1 year lease, which is $1800. He said $900 will goto the buyers agent and $900 will goto him.

Is my Realtor BSing me? does getting a rental listed on MLS really make a difference?

Post it on Craigslist and Backpage and save those fees.

Joe Gore

Originally posted by @Joe Gore:

Post it on Craigslist and Backpage and save those fees.

Joe Gore

Yaeh I know about Craiglists, Zillow, Trulia, etc, but the Realtor claimed that "95% of all tenants come in via MLS."

Highly recommend postlets. Worked great for me. My real estate agent was the one who turned me onto it. I'm not aware of anything better that the realtor would have access too.

There are very few markets where the realtor is the main avenue for a rental. Give it a go your self and if you don't get any bites then give the agent a try. If things are slow, exclude anyone that has already seen the property before the agent lists it, you would need to provide them a list.

My realtor also offered this service.  Save your money and do it yourself.  Postlets and CL are great for getting tenants, and you should be more motivated than the realtor to get the place filled.  Write up a small marketing pitch to get perspective tenants excited about your property, the realtor won't know the area or the features of the property like you.

The majority of people use the MLS to purchase not to rent. My realtor listed a property for me and I didnt get a single lead from that avenue. I did however get 6 qualified applicants on my own using CL and old fashioned signs (signs create a lot of calls with few applicants if your rent is on the high side for an area. We had about 30 callers for signs and 2 that were actually interested after hearing the price.

If he's going to do the advertising, showings, qualifying and lease signings they it may be worth it. I personally hate that part so I'd gladly pay someone less than 1 months rent to do it. If he's just popping it on the mls and you have to take care of everything else than na

All the responses are going to be as to what works in our particular area.  In some area I work in the Craigslist/Postlets route works great, but in some areas I would never get a call.  Typically in Austin, the Realtor gets 60-100% of the First months rent.

Remember that this is a business!  Your break even for using a Realtor vs Not is a little over 15 days, meaning if it takes you more than 2 weeks longer to do it yourself vs the Realtor than the Realtor route would more than pay for itself

Down here most realtor charge 1 month rent. That includes a sign in the yard, listing on MLS, showing, screening and lease signing.

The problem is you either go with the realtor 100% or you do it all yourself, there is no room for half and half.

For example if you have your own screening rules and requirements, you can't ask the realtor to drop his/her established processes and forms and use yours.  They have their forms, their screening, their standard leases.  You have yours.  Mixing the two is going to be a lot of stress for both you and the realtor.

Also my experience with some realtors is they will aim high on the rent to get you excited.

"You are listing it yourself for $3000, I can get you $3500 a month!"

Six weeks later, after three showings, they call and say they have an applicant but for $2850 and they recommend you take it.  They have done all they can, open houses, showings, ads, pics, etc...

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