Property listings by agents

[Brandon Gamblin]

What does it take for an agent to list the property? When an agent lists a property, what happens or what takes place? Whats the process? I'm asking because I had a friend who agreed upon a price with a seller and the seller took the contract to an agent, the agent listed the property and the deal, according to him, died. Is there any way we can prevent this, as wholesalers from crashing our deals? How can we learn from this situation?

[Robert Leonard]

Did the Seller take the original contract and the wholesaler not have a copy of it? It sounds like the Seller decided to list the property instead of selling to/through the wholesaler?

If that's the case, the solution is that the wholesaler should maintain control of their contract and not allow the seller to take the original to anyone else. That's what the wholesaler should do to maintain control of the deal.

To your first question, it takes the owner (on the deed or power of attorney) of the property to list the property. If the property were under contract to a wholesaler and the Seller had a copy, the Seller would be obligated to the terms of the contract and couldn't list the property with an agent.