Can a real estate agent wholesale a property and list it? (NJ)

[Account Closed]

Hello,

I'm wondering if it is legal for a licensed real estate agent to get a property under contract as an investor then list it on the MLS (offering a 3% commission) and assign the contract to someone else essentially collecting an assignment fee as a wholesaler (minus the 3%) but using the MLS to do.

To me, this seems like it is practically a net listing but them approaching the seller as an investor may make it a different story. Has anyone encountered this? Is it legal? I’m pretty certain it would be if the individual simply wasn’t licensed since this is what wholesalers do but I don’t know where the lines are drawn. Thanks for any insight in advance!

[Mason Hickman]

@Account Closed

Net listings are banned by NAR and are illegal in New Jersey (for good reason). You aren't an investor in this instance because you aren't actually buying the property. You are acting as an agent/broker but are not giving the seller the loyalty that they are due.