Wholesaling deals listed on the MLS?

[Matthew J. T.]

I've read you could do it, but just a little curious how that goes. As far as I know, these sellers are listed on a flat fee (because they need to move quick, and need money and it doesn't show a picture of the REALTOR® it is listed with), and it is not a full service, so if I were to put a property like this under contract, would i just use my regular purchase and sale agreement , or do I have to go through a REALTOR®'s special contract? Or is better for the seller just to cancel the listing so they could put it under contract with me?

[Jimmy C.]

Matt, you can totally wholesale some of the deals on the MLS that are private sellers using the flat fee system.

The reason is that the broker they paid a flat fee to is not representing them in the transaction.

I should know. We have put properties on the flat fee MLS. And if you had an end buyer (thats solid) we would give you an assignable contract and cheer you on as you (we) get paid!

We aren't stupid though. We wouldn't give you that contract unless you had an end buyer in place. Otherwise you would get a non assignable contract, and you have to POF and escrow.

My guess is that you could bump into informed investors when negotiating with these types of sellers. But its a numbers game. Enjoy!