Working w/ wholesaler and real estate agent?

Question

Is it OK/ethical to work with both a wholesaler and a real estate agent at the same time?  I've been working with a real estate agent for a little while trying to find my first deal and I recently got in touch with a wholesaler.  The wholesaler has asked me to sign a NCND (which I'm OK with), but it just made me pause and wonder if it's ethical or I'm stepping on anybody's toes.  I asked my real estate agent if she's OK with it and she doesn't even know what a wholesaler is.

Andrew Merritt · Answer

@David D Painter and @Jose Hooker thanks for the replies.  This is my understanding of wholesaling

@John Thedford this is one of the things I'm worried about, but I just don't see it as them doing anything illegal.  It would just be like doing a FSBO w/out an agent, no?  I'm obviously not a lawyer but was reading up on the iffy legal status of wholesaling on an older thread.

Link to thread

John Thedford · Answer

Sounds like the unlicensed person is actually brokering real estate without a license. Typical and they often cross the line into illegal activities ...aka brokering without a license.

Jose Hooker · Answer

@Andrew Merritt

Hi Andrew, I am a REA in Central Florida and I will not be bother too much because one of my clients is working with a wholesaler. In the end, I see my job as one where I help my clients look for a good deal for him or her. Whatever "good deal" means. It could be location, ROI or simple a good price for the property.

My mindset is to provide exceptional service to my clients. In the end, my client will have to decide what is best for him or her.

Jose

David D Painter · Answer

I see no reason you can't work with both. I have a great re agent but have also bought FSBO's. No harm, no foul.

I do wonder why a non disclosure if the wholesaler has a property already under contract?

Good luck!