Real Estate Agents that are actively wholesaling

[Gloria Gutierrez]

Hello everyone, my marketing is paying off and I have three appointments set with sellers. I would like to wholesale the properties if the numbers work for the sellers. BUT as agents how often do you list a property on the retail market if the numbers dont work for the seller?

[Eric H.]

@Gloria Gutierrez The key to wholesaling is you must find someone with motivation and equity. Equity can be easily determined but their need to sell the house (motivation) is not always apparent. But you can usually rule out wholesaling if the seller is asking for retail price. How do I know it's retail? I usually am conducting research (pulling comps) as I talk to the seller on the phone or I will have this done beforehand if it is a call back. I may say something like "Mr. Seller unfortunately at this time I am looking for distressed properties that I can add value to. There is no way I can pay anywhere near what you are asking. As I mentioned before I am a licensed agent and would be glad to represent you in the sale of your house. Is that something you may be interested in?" @Russell Brazil is right about checking with your brokerage. They may frown upon wholesaling for the mere fact of refusing to be creative, fear of the real estate commission, and/or not understanding the law completely. Wholesaling as an agent is not illegal. It's all about disclosure. In Maryland we have a form that clearly states my role in the transaction (buyer, tenant, seller, landlord, or representing someone). Make sure seller is aware that you are an agent. Check laws regarding marketing of property that you don't own. These are the two areas you can get in trouble with wholesaling as an agent.

I wish you the best!

Sincerely,

E. Harris