MTRs and MLS
Interested in knowing if anyone has listed their MTR on the MLS simultaneously while on sites like Furnished Finder, Airbnb, and Zillow for additional visibility? What are the pros and cons of this and how have you managed the listing between the MLS and the MTR-friendly sites?
#2 Medium-Term Rentals Contributor
- Lender
- Youngstown, OH
Would you need to be a licensed realtor, or work with a licensed realtor, to list on the MLS? While I don't think it would hurt to have your property on another platform, I foresee more headaches than advantages. The only way you're going to be able to manage the listing between the platforms, that I'm aware of, is by manually adjusting the availability on the MLS anytime the property is booked through a different site. Hopefully others chime in with more experience/knowledge of the MLS than me! I'll be interested to see their responses.
Quote from @Nicole Heasley:
Would you need to be a licensed realtor, or work with a licensed realtor, to list on the MLS? While I don't think it would hurt to have your property on another platform, I foresee more headaches than advantages. The only way you're going to be able to manage the listing between the platforms, that I'm aware of, is by manually adjusting the availability on the MLS anytime the property is booked through a different site. Hopefully others chime in with more experience/knowledge of the MLS than me! I'll be interested to see their responses.
Yes, you do need a real estate agent to list on the MLS. I am an agent listing the MTR for a client. The thinking here is to offer a flexible listing option to the client so that he can still rent on his own and add the MLS as an additional option to complement the more common MTR channels.
I agree with @Nicole Heasley!
If you're going to do that, you will really have to stay on top of both platforms. It could get tricky if your market/realtor charges for listing and/or taking applications for it as well. It's not impossible, but it seems like it would be a lot to handle with it being live and inquired about on both sites.
#1 Medium-Term Rentals Contributor
- Investor
- Cottonwood, CA
Are you trying to sell it (MLS) or rent it? I don't understand why you'd list it on both simultaneously.
#2 Medium-Term Rentals Contributor
- Lender
- Youngstown, OH
Quote from @Mario Teran:Are you getting much traction on the MLS?Yes, you do need a real estate agent to list on the MLS. I am an agent listing the MTR for a client. The thinking here is to offer a flexible listing option to the client so that he can still rent on his own and add the MLS as an additional option to complement the more common MTR channels.
#2 Medium-Term Rentals Contributor
- Lender
- Youngstown, OH
Quote from @Bonnie Low:
Are you trying to sell it (MLS) or rent it? I don't understand why you'd list it on both simultaneously.
My understanding is they're utilizing the MLS as another listing platform to rent it out as an MTR. I have heard of some landlords doing this with their LTR's.
Quote from @KiKi Wood:
I agree with @Nicole Heasley!
If you're going to do that, you will really have to stay on top of both platforms. It could get tricky if your market/realtor charges for listing and/or taking applications for it as well. It's not impossible, but it seems like it would be a lot to handle with it being live and inquired about on both sites.
Agree - I will likely end up co-hosting the unit to help manage it across platforms.
Quote from @Nicole Heasley:
Quote from @Mario Teran:Are you getting much traction on the MLS?Yes, you do need a real estate agent to list on the MLS. I am an agent listing the MTR for a client. The thinking here is to offer a flexible listing option to the client so that he can still rent on his own and add the MLS as an additional option to complement the more common MTR channels.
Posted it a few days ago, not yet. We will see how it goes!
Hi Mario,
I can see the benefit of using the MLS to syndicate the listing across Zillow, etc. But I think the best question you might consider here is, what kind of end user is looking for an MTR on the MLS? As an agent myself that doesn't operate in the rental space, I could be out of touch on this, but, I would think most agents sharing MLS listings are also looking to be paid a co-broke. On top of that, who is paying for that commission if they bring a tenant?
I imagine keeping the listing tightly posted on AirBnb and furnished finder, or working directly with someone at a local hospital that sources housing or offers recommendations to travelers would be the most productive marketing strategy.
They split fee for rentals posted on the MLS in Boston -- industry norm.
Quote from @Mario Teran:
Interested in knowing if anyone has listed their MTR on the MLS simultaneously while on sites like Furnished Finder, Airbnb, and Zillow for additional visibility? What are the pros and cons of this and how have you managed the listing between the MLS and the MTR-friendly sites?
Yes but I have a great relationship with my agent and I am very upfront about this. If they bring the client they get the commission, If I get the client than they do not. This is probably only possible b/c of our time working together
Quote from @Brady Graham:
Hi Mario,
I can see the benefit of using the MLS to syndicate the listing across Zillow, etc. But I think the best question you might consider here is, what kind of end user is looking for an MTR on the MLS? As an agent myself that doesn't operate in the rental space, I could be out of touch on this, but, I would think most agents sharing MLS listings are also looking to be paid a co-broke. On top of that, who is paying for that commission if they bring a tenant?
I imagine keeping the listing tightly posted on AirBnb and furnished finder, or working directly with someone at a local hospital that sources housing or offers recommendations to travelers would be the most productive marketing strategy.
I agree, the MLS is meant to supplement the strategy, the key will be how much effort the owner puts into the avenues you mentioned.
Quote from @Anthony Cortello:
Quote from @Mario Teran:Make Sense.
Interested in knowing if anyone has listed their MTR on the MLS simultaneously while on sites like Furnished Finder, Airbnb, and Zillow for additional visibility? What are the pros and cons of this and how have you managed the listing between the MLS and the MTR-friendly sites?
Yes but I have a great relationship with my agent and I am very upfront about this. If they bring the client they get the commission, If I get the client than they do not. This is probably only possible b/c of our time working together