Do you get feedback from your leasing agent/Mgt company?
6 Replies
Cameron Marmon
Investor from Richardson, Texas
posted over 3 years ago
I have listed my investment property for lease and I am using an experienced Realtor, which I used in the past to buy my first home. She actually lives just up the road from the home I am trying to lease out.
She put the home on the NMLS and of course that flowed to other sites. So the home is listed everywhere. Great stuff!!!
My problem is the home has been on the market for almost a month and every time I ask her for feedback from the people who looked at the house or from the agents who showed the house she has nothing for me. She just says, "I asked." Or "I left a message."
I'm fine with it not being leased yet, though I hope it happens soon haha. I'm not putting that on her at all. But I would like to know why people are passing or what their concerns are so I can work on them. Right now, I literally have no reason as to why people are passing and not even making an offer of some sort.
Is that typical? What is y'alls experience with the people you use to lease your home? Do you get feedback as to why someone is not interested or concerns they have?
Minna Hu
Rental Property Investor from San Jose, California
replied over 3 years ago
my agent tells me before she listed our apartments, what needs to be done to get better price or better tenants, such as flooring, new counter top. I don't remember that she ever told me any feedback from the viewing, I guess every tenant has their own preference, we don't need to address them to get that specific tenant. 1 month is not long for leasing a house, isn't it? The turnaround of my apartments is usually 1 month, or 2 sometimes.
William Robison
Real Estate Broker from Kansas City, MO
replied over 3 years ago
I'm a property manager and a real estate broker. Not all MLS listings yield a positive result. I assume that its pushed to Zillow, which is critical in the current market. In our market, almost no one lists rentals on MLS...we just use all of the other typical sites.
From there, you are entering a slow time in the cycle of leasing. It's critical to have solid, quick follow up on all inquiries. From a pure business perspective, a real estate agent would prefer to sell houses first, then lease with spare time. In this market, buyers may still be active. In our management office, we have dedicated leasing agents that work full time leasing houses. Our state requires that they are licensed, which they are, but they are dedicated to our property management firm first, and sell with their spare time.
In sum, get aggressive with follow up. You might also consider a self-show technology, like Rently.com You could get your own feedback and follow up more efficiently...potentially. The nice thing is that the technology yields feedback quite often.
Fred Heller
Real Estate Agent/Property Management from Houston, Texas
replied over 3 years ago
I always give feedback if I can get it. And if I show the house myself, I can get it. But keep in mind that if the house is listed on MLS there's a good chance another Realtor is showing the house. And that makes getting feedback a little more difficult.
I disagree with the previous comment that MLS is bad for rentals, at least for us. All MLS listings go on HAR.com, which is the best-known platform for housing in Houston. Plus Zillow and Trulia automatically scrape all MLS listings.
Cameron Marmon
Investor from Richardson, Texas
replied over 3 years ago
Zillow removes rentals that are also on the MLS?
Cameron Marmon
Investor from Richardson, Texas
replied over 3 years ago
Originally posted by @Fred Heller :
I always give feedback if I can get it. And if I show the house myself, I can get it. But keep in mind that if the house is listed on MLS there's a good chance another Realtor is showing the house. And that makes getting feedback a little more difficult.
I disagree with the previous comment that MLS is bad for rentals, at least for us. All MLS listings go on HAR.com, which is the best-known platform for housing in Houston. Plus Zillow and Trulia automatically scrape all MLS listings.
Zillow and Trulia remove rentals that are also on the MLS? I thought they got the listing from the MLS?
Fred Heller
Real Estate Agent/Property Management from Houston, Texas
replied over 3 years ago
No they don't remove rentals. They scrape the info off MLS. So if the listing is on MLS it eventually makes it on Zillow.