Create rental listing before closing on property??

[Clint G.]

I'm in the buying process of my third SFH. Offer is accepted and we're going through inspections etc. No reason this deal shouldn't close in the next 30 days.

I want to get ahead and start advertising the property to potential tenants in hopes we have someone in place by the time we close or shortly after.

My agent says that might be an issue since its still listed as "pending" on the MLS. I've already started to tease it on social media, but has anybody had luck with doing this before? Ideally I'd like for it to be on the MLS. I've seen better luck with quality tenants this way.

Thanks!

[Natalie Schanne]

@Clint G. - 1. Definitely post it before it’s purchased to build interest. Use your own photos and don’t include the address number or any exterior photos. No need to be vacant. Vacancy kills your $$$. I have contractors ready to rehab a house day 1 I own it.

2. I’m an agent. I also property manage my own units. 90% likely you will rent it faster by posting it yourself on all the free sites Zillow, Facebook, craigslist, Local community pages, local Facebook rental / community groups, Nextdoor, zumper, cozy.co, etc. I know many agents who don’t respond to all the calls or Zillow leads they get on a listing and you’re paying 1 months rent (8% of annual income) for the service of NOT seeing your own leads or vetting your person. After closing, post a sign out front-for rent by owner.

I create a canned email and text redirecting them to the listing/basic info, virtual tour, etc. and asking them to let me know if they want to have a real tour and/or apply.

3. If you don’t get it rented in 1-2 weeks, drop the price or improve the condition more. You can drop your price up to 8% and still have made as much as you would have with the agent representing you. As an agent doing rentals, I’m one of the only ones in my market that does open houses for rentals. The average rental agent is going to shoot some iPhone photos, write Nice 3 bedroom 2 bathroom ranch house ready for occupancy. and wait to collect their 1/2 month commission when the tenants agent brings the renter. The mls rental listings syndicate to Zillow and you can look at them to see what I mean. You can even use a service like rent for automated lockbox access so they tour without you (have cameras).

Good luck buddy!!!