Involved In Real Estate · Wilmington, MA · Member since 2013 · 84 posts · 4 votes
I am planning on executing a direct mail campaign to wholesale properties. On the yellow letter I planned on putting my personal website with a landing page for wholesale prospects to go to. My personal website was designed to market myself as a real estate agent so I was wondering if putting a tab for Wholesaling would clash. Also, I thought it might not be a bad idea because it would be a form of disclosure that I am an agent. Should I not mix the two? Should I just include my name and ph # on the direct mail piece? Any other conflicts relating to agents and wholesalers please point out. Feel free to visit my website by navigating to it from my profile on BP.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
13y
Kevin Barrett, Yes you'd be okay. What Bill was saying to avoid is flipping/asigning the Contract for a fat fee. This could be interpreted as a Net Listing. A Net listing was where an owner would say, " you get everything over $XXX price, as your commission". This obviously opens the door to an agent abusing an uninformed seller.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
13y
You need to disclose your agency on all written advertsing as well. It's best to charge a Realtor fee if you are not taking title to the property. Review "net listings", profiting from a sale price above that received by a seller which is illegal. You can be the listing and sales agent, and you should be able to charge a flat fee as well. You need to review this with your broker.
If you buy and take title, you can act as an investor, but need to disclose to all parties involved. Good luck :)
Involved In Real Estate · Wilmington, MA · Member since 2013 · 84 posts · 4 votes
13y
Bill Gulley I will need to research net listings further. If I buy the property and flip to a wholesaler and I do not have list it as an agent would this still be considered a net listing? I would disclose myself as an agent, but would not collect a commission/fee. Thanks!
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
13y
Kevin Barrett, Yes you'd be okay. What Bill was saying to avoid is flipping/asigning the Contract for a fat fee. This could be interpreted as a Net Listing. A Net listing was where an owner would say, " you get everything over $XXX price, as your commission". This obviously opens the door to an agent abusing an uninformed seller.