Thinking of using the Multiple Listing Service (MLS) for your rental properties? Think again.
Despite what real-estate agent influencers say, here's why the MLS might be more trouble than it's worth for rentals:
The MLS comes with a hefty price tag—typically around $500 per listing. This cost dwarfs the fees of other platforms; posting on Zillow or Apartments.com is often free or a fraction of the MLS price. For small landlords, this expense can quickly eat into profits. Is it really worth the cost when more affordable (and often free) alternatives exist?
Listing on the MLS isn't straightforward. It often requires a licensed real estate agent or agency, adding extra steps and complexity. Do you need this hassle for a rental? The time spent navigating this system could be better used on other aspects of property management or listing on platforms with more traffic.
The MLS was designed specifically for property sales, not rentals. This fundamental mismatch means that most MLS users are searching for properties to buy, not rent. The platform lacks features tailored to rental listings, potentially leaving your property poorly represented. With minimal rental-focused traffic, your listing is essentially lost in a sea of for-sale properties, drastically reducing its visibility to potential renters.
Here's the kicker: MLS users are likely already searching other platforms like Zillow. You're not reaching a new audience—just paying more to reach the same people twice. Since a majority of traffic is on other platforms, it doesn’t make sense for rental agents to only list on the MLS, so the platform ends up serving a redundant audience.
The biggest issue is that most renters don't use the MLS directly. A regular user doesn’t have entry to the platform or would prefer to go with user-friendly platforms like Zillow, Trulia, or Apartments.com. Why pay a premium for less exposure? These popular rental sites are not only more accessible but also offer features specifically designed for renters, making them a more natural choice for your target audience.
For rentals, the MLS is overkill. It's expensive, complex, and doesn't reach your target audience effectively. Instead, focus on platforms designed for rentals. They're more cost-effective and better at connecting you with potential tenants.
Remember: in the rental market, it's not about the widest net—it's about the right one. Don't let the MLS become your money pit.
By choosing higher-traffic rental-specific platforms, you can save money, time, and reach more qualified potential tenants directly.
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