Listing Properties on MLS as a wholesaler

[Josh Stroup]

Hi Everyone,

In Pennsylvania, can you have an agent list for you a property on the MLS if you hold only equitable interest in said property (i.e. having the property under contract as a wholesaler)? I asked a few local real estate agents, but got no clear answer. Thanks.

Josh

[Neal Collins]

Josh Stroup Just because you have the property under contract doesn't mean you have the right to sell the house. You sell, via an assignment, your rights to purchase the property. It's just not legal and some would question the ethics behind it. I myself appreciate the creative thinking, but you'll want to generally be aware of how that would play out if you could indeed do what you're asking.

Essentially it means that you would be tying up someone else's property with very little at risk, negotiating a price where you would be making a margin, and then listing it with an agent that would then make more money off the deal. That begs the question of what your involvement really is in the first place? The realtor solved both your problem and the seller's. So why would the seller be better off selling it to you rather than listing it with an agent?

If you have a deal that you think is more valuable than you think it's worth and want to sell it on the market, I'd suggest closing on the place. At least then you could do it legally.