Brokers against Wholesaling & Lease Options. Why are you?
Im the type of guy who likes to understand both sides of an argument. I recently have been talking to different brokers here in Maryland and I get what seems to be the same statement.
"We don't allow our agents to perform assignments of contracts or participate in sub-leases in creative financing because it's a huge liability without much return to the agent and company to justify the risk."
I even did a presentation to my broker (helped by Associate Broker @Karl Krentzel), presenting an example transaction showing proper disclosures & revealing my intentions to profit in the contract, and even doing a cma showing the seller their home value before negotiations.
Complete disclosure and acceptance by seller and Complete compliance with NAR code of ethics and Maryland law. If the Seller ever balks about it, they have nothing to stand on because we told them everything and even professionally told them what their house is worth in the current market.
End result? My broker still wanted their agents to have no part in assigning contracts and the such.
So I gotta know,
Why are most brokers against their agents wholesaling and performing sandwich lease options?
Help me to see it from your side.