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Updated almost 10 years ago on . Most recent reply

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Lee Badragan
  • Real Estate Investor
  • Harwood Heights, IL
12
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17
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Use a RE agent to rent out a higher-priced rental house?

Lee Badragan
  • Real Estate Investor
  • Harwood Heights, IL
Posted

I bought a house in the Chicago northwest suburbs and need to rent it out. Market rent is $2,500-$3,000 per month. This is a house that I plan to move into 3-5 years from now, but need to rent it out in the meantime. 

I have never rented out a house before, so am looking for some advice on whether I should post the listing myself on craigslist, zillow, etc... or if it would be wiser to have a RE agent post it for me, along with putting it on the MLS.

Are renters looking for higher-end rentals more likely to be working with an agent and would need to have my rental on the MLS? Or would I be wasting my money having an agent list it instead of taking care of it myself? Thanks!

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6,137
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,082
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6,137
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Lee Badragan - I am a broker myself and can post open listings for my properties on the MLS and only pay the agent half commission, but I still rent out my units myself outside the MLS. My units are considered higher end and I charge more per month than my neighbors, and I usually rent them out in 2-3 days. I use postlets.com which is free to advertise them. I will post it and do a 2-3 hour "open house" showing a few days later. We usually have at least 10 people show and I give them all an application deadline and then choose the best qualified one.

I would try this first and then if you can't rent it after a week or two list it with an agent.  

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