All Forum Posts by: Terrance Clark

@Val G. I would definitely recommend eXp.

I am a 3rd generation investor currently controlling 200 units.

I strategically chose eXp because of the business model which encourages collaboration.

@Vince Mayer @Vince Mayer no realtors have to put their listings on the MLS unless seller ask otherwise.

There can be exclusive listings but they can only be marketed with in the brokerage.

MSA in place allows you to share that information to those investors buyers.

If real estate agents messes up, misrepresents, there’s someone to answer to, wholesalers many whom are fly by night wholesalers have no repercussions.

Many wholesalers enter the business trying to make money without spending money cutting corners in the transactions to stay lean but this lack of process and professionalism is often why deals fall apart.

Does anyone have experience with Marketing Service Agreements. I as an agent am wanting to go in agreement with my investor buyers that will have them agree to pay for opportunities I bring them, but disclose that I am not acting as their agent in the transaction.

This topic comes up often... I really would recommend getting a license if you can make it useful. Use it to create streams of income otherwise, it becomes a liability.

I believe best entry is home ownership and leveraging the programs for home buyers to invest!

@Vince Mayer

I would actually in that scenario try to have my seller agree to pay me 3% and then my buyer pay me 5-7k for sourcing the deal.

This agreement more like a marketing service agreement where you the marketing is providing a service but not agency. Which of course would need to be in writing and disclosed.

Your platform fee to your buyer could in theory be whatever you make it and would be paid by buyer.

Wholesaler really loses because 1 there’s no intent to execute the offer given. Two there usually lacks the ability to actually carry out the offer.

Lastly wholesaler has one offer where in the situation I gave you above can still field multiple offers for a seller.

@Vince Mayer compensation is not capped. And it doesn’t have to be paid by the seller those are just industry standards.

My buyer can pay me what I ever we can agree on while getting my seller to do the same thing.

@Robert Sutton you could do that but still not legal if you have equitable interest in the company.

Honestly if you have no intention or don’t have the ability to close those deals yourself I would stay away and look closer into dual agency set up!

Shoot me a message let’s talk strategy

@Jaylen Boswell

Traditionally speaking wholesalers are not going to be transparent enough!

It also comes down to intent and ability too many wholesalers making cash offers with no cash, and no intent to actually close.

Agents though should only be mad at themselves we are the reason wholesaling exist. There are not enough of us who know how to serve distressed sellers. There are not enough of us who are dedicated to the niche leaving Americans left with no choice but wholesalers or foreclosure.

I think most agents should learn the process of wholesaling so they can apply it to their business model instead of assigning contracts could practice dual agency. Or do what my company eXp realty has done and create a platform for investors to see opportunities for a fee!

@Robert Sutton with your license it will be hard for you to do traditional wholesale because of your affiliation with NAR!

How ever your friend is right when he says you should learn how to market distressed sellers and have a solid network of cash buyers who can close quick.

If your state allows dual agency you can’t represent both buyer and seller and just do your regular job as an agent.