Can I List On MLS As A Wholesaler

[Terry Evans]

Hello To All Willing To Share Their Knowledge,

I am wanting to put together a "whole sale deal" or "assignment of contract"

Question: Once I have equitable interest in a property, i.e "from escrow funds" can I sign a listing agreement with a realtor, so I may have access to marketing on the MLS?

I am the realtor...

Wanted to do this so I could market to wider investor audience.

I will not collect a commission on the deal, however if the deal is brought through the MLS I will then be able to pay the commission to the agent of the investor.... RIGHT?

or is there a better way to structure this and still maintain the marketing of the MLS?

[Michael Quarles]

There is nothing illegal or unethical about buying a property even if an agent and then selling it utilizing the MLS and representing yourself as the seller....

And if buying property and reselling it for profit the investor/agent should disclose their intention to the seller. An agent doesn't have to disclose the amount they expect to earn unless they entered into agency with the owner. However its just moral to tell them that you're in the business of making money and that your intention is to sell the property for profit. HUGE profit.

As for having to disclose the constructive owner to the mls. I would suggest that one not record anything, just notice the MLS with the a copy indicating who the owner is. The MLS guidelines are very clear and allow a seller to insert a house into the mls for sale. It doesn't say Owner.

This is all about whether or not you have acted professionally and honestly. Anyone who wants to read my purchase agreement can here. It clearly notices the seller of my intention. Not doing so seems creepy.

As for Brokers and whether or not they will allow it... Remember most Brokers don't sell real estate they rent it.. At the tune of half of the earned commission of an agent up to 25-33k a year, plus all of the other file and management costs.

Having a Brokers license is so much better for situations like this than just an agents license.