I will make an example to see if this fits your scenario- The realtor sets an automatic daily search in the MLS with your parameters and you get a daily email with a link to properties - When you find a property that looks good to wholesale you call the agent and provide him the deposit check, proof of funds and the conditions of your offer, he makes the offer in your name (for example on 100,000$)- The listing agent presents the offer to the owner- If the owner accepts your offer, you calculate the price for reselling the contract (let's say 110,000$) and you start looking for investor to assign your contract- You find an investor and agree a price (let's say 105,000$) and to close in the established day according to the contract you have- If the investor is willing to use your agent, then he will represent the buying side and the listing agent will split the commission with your agent (typically 3% for the listing brokerage and 3% for your agent's brokerage), which is transparent to you because the seller is the one who pays that to the listing agent.- Then you will pay part of your assignment fee to the realtor, according with your agreement (30% of 5,000$ = 1,500$ if you found the investor or 70% of 5,000 = 3,500$ if the realtor find the investor) There can be an issue - Probably the investor has his own Realtor to handle his purchases, in that case you will need to figure out something mutually agreed with your Realtor, because he and his Brokerage will not get his split of the commission from the listing agent at contract closingAnyone has a comment about this?

I am waiting for a lawyer to call me back but thought I would let all of you weigh in.

@Brian Gibbons   And others  Thanks Tthis is way I put in at the end SEE LAWYER.

@Jonathan Prewitt Let me throw out that I'm not a lawyer or CPA and this is outside my area of expertise / knowledge.

Realtors are bound to represent the seller unless you have a buyer representation contract with them.

He has put me in contact with a connection of his who represents a lender who will do up to 90% for me with a good rate and term.

I'm not a lawyer or tax advisor so my opinion is that I wouldn't want to represent myself in court if I were sued or fight the IRS if they filed a tax lien on me.

If it passes that gather actual information on the following expenses:TaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and OpsInsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)If you post the property in the Analysis section of BP, we will tell you the potential upsides and inevitable downsides of your purchase.

And since they do not represent you they might not have your best interests in mind.  

Get a knowledgeable realtor on your side who will represent you and look out for you and get you the best deal possible.You can also start doing some direct marketing and perhaps scrap out a couple deals through there...