All Forum Posts by: David Balogun

It doesn't make sense for you to partner with the listing agent. Mainly because they have a contract with the seller in which THEY are being promised a commission % for bringing forth a buyer. If you are bringing a buyer to the listing agent and you do not have a RE license in that state, it'll be tough to get paid unless you have a written agreement with the buyer.

There are plenty of other scenarios in which this "deal" could end up costing you a lot of time with NO guarantee for compensation.

I host an investment club meet-up in my market and I cannot tell you how many people have come to me to try to sell me on a "deal" that is already listed. It is very unfortunate because it isn't very practical to try to get a deal this way. In many ways, it is not even ethical. I try giving them my best advice but the cold-hard fact is that the same time they are spending trying to sell a property (without contractual obligation to the seller) is the SAME time they can put into cold calling, sending direct mail, and marketing for their own off-market deal.

Wholesaling is about finding property owners who have NOT yet decided to sell their property with someone, and having that seller trust YOU to sell it (or at the very least, assign the contract). Like I said, I unfortunately deal with this situation too often but if you'd like to connect and discuss further, I'd be happy to get into more detail with you.

@David Balogun Wholesaling listed properties is a big no no! You bring absolutely no value in that scenario. You will definitely ruin your relationship with your buyers when they perform their due diligence and discover that the property you are marketing is on Zillow, MLS, Redfin etc. the value that wholesalers bring is finding properties that are off market that the buyer wouldnt have found without the wholesaler. This is not the case with a property that is on the market already.

Hello David,

Your best bet is to find the deal on your own before attempting to sell it to an investor or end user.

Homes that are already listed with a Realtor cannot be marketed to potential buyers UNLESS you have permission from the Realtor. 

Furthermore, if a Realtor cannot sell their own listing, chances are it is not a great deal or is not being priced/marketed well. That being said, if you wait for the listing to expire, you can try to contact the owner directly and find out if they'd let you market their home.

Best of luck to you moving forward!

Abel