The MLS – Multiple Listing Service. This is the platform the major real estate syndication websites obtain real estate listings from in certain cities.
The major real estate syndication also goes to the source, the independently owned real estate brokerage in a particular city or nationwide franchise and obtain real estate listings directly from the source.
I was told recently by a client of mine when I asked him to ask his property management company if they were going to publish his rental in the MLS, they said it would not benefit him.
So hence the close to 1-star Yelp rating. But I digress. I have been working around this particular Santa Clarita property management company for some time now.
I have work with most at one point or another, it’s unfortunate the truth was not told and that my friend was lied to.
What was the truth? The truth was they don’t have access to the MLS because they are not Realtors. By not being Realtors, they may be unlicensed, but by not being Realtors, they are not held accountable to the Realtor code of ethics.
The realtor’s code of ethics has teeth and is enforced by the local Board of Realtors. In the Santa Clarita Valley cities, this is known as the Southland Regional Association of Realtors aka SRAR.
If the Realtor violates the standards on a large enough level, there is also the California Association of Realtors, which they are apart of it in California and the National Association of Realtors.
That’s a lot of enforcement and maybe the reason a local property management company in Santa Clarita Valley would choose to lie about the reason why they don’t place their rentals and leases into the Multiple Listing Service for their property owners.
Being a Realtor also gives us attorney consultations as included with our membership in good standing with the Board of Realtors.
Lie #2 – there has to be a commission paid to the real estate agents to have the property listed in the MLS.
That one nearly floored me. So matter of fact. Another sign that this person is not a Realtor.
As a favor, I have placed my personal real estate clientele and their rentals into the MLS for FREE in a status called “MLS Entry Only”.
This indicates that there is going to be no commission paid to any realtor that brings a tenant to the landlord via the MLS Listing.
Furthermore, when I place the listings into the MLS as a rental, I place in the MLS the contact information for the Landlord so the syndication websites pick it up and where it is displayed.
It’s pretty sweet, it’s free and I know that doing so will give the Santa Clarita rental or property for lease tons more eyeballs and generates more interest.
Truth 1 – the first sign of truth was when this same real estate property manager told my friend that they would not be able to control the number of showings of the rental.
What she did not explain is the lockbox of a Realtor keeps track of those showing the property. She also did not explain they are able to generate additional revenue by being the “sole advertiser” of the rentals. She did not further explain how they may tarry due to not having enough staff to show the property for lease, thereby not being the best representative of the landlord.
This is true, there are a lot of agents who don’t do property management, as I don’t. But, they have future or past clients or referrals that want to rent, so they help them out of the goodness of their heart.
As a result, they get their future real estate business and the referrals that come about when someone does the right thing.
The point is, just be honest. Say, we are not Realtors. We don’t have access to the MLS.
The last thing you want to do is to throw your landlord’s friend under the bus because of overflowing with mendacity.