Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago,
How to pay a realtor if they bring you a buyer on a wholesale?
So here's the question:
Once you have a great wholesale deal under contract, I've hear that it's a great strategy to find realtors who have sold property in the immediate area to cash buyers, and to contact those realtors and ask them if their cash buyer would be interested in the property you're looking to wholesale. To me, this sounds like a great way to leverage local realtors to get deals done.
Being that I'm an agent and have access to the MLS, I can easily find these realtors and their contact information. But, I also know that realtors/brokers will only use the state contracts for transactions.
So exactly how would the realtor who brings the buyer in get paid? Would this be a referral fee? I can't imagine it being a standard buyer's agent commission since the contract would not be a broker-approved contract. Has anyone done this type of transaction, and if so, what are the details of the paperwork?
Thanks for your time and consideration fellow BP'ers!