BiggerPockets

Hello everyone. My name is Ashley, I'm about to start my pre-licensure class to become an agent. I know I'm going to have some questions along the way and I'm hoping I can get a few answered here.

My 1st big question is this:

I know its possible to work exclusively with investors; but is this scenerio possible?

A couple comes to me wanting to sell their house fast. I agree to put it on the MLS after marketing it to my buyers list of inverstors first.

^ could I do that?
They say you can do anything if a contrast is written properly... but I'm wondering if that would be a realistic scenerio.

Any advice, tips, or insight you can offer would be gladly appreciated.

I'm an agent and I try to work only with investors, however I find it hard to turn down others. Anyway, if your plan is to list the property, and as part of your marketing, let your investors know it is for sale, I see nothing wrong. It's no different than canvassing the neighborhood after you list the property. In my opinion, you're not doing the very best you can for your sellers if you don't let every person know that it is for sale.

Just my .02. I am new to wholesaling (started earlier this year-3 deals completed) and just got licensed a few months ago (having my 1st closing by the end of Dec.). I see no conflict of interest. If you have a property under contract and are not listing the property, you do not have to get them the most you can for the property. Their is no agency relationship (although you always have to disclose you are an agent). If you can not sell the property as a wholesaler and then want to list the property, thats when you have to get them the highest possible price. As long as you disclose what you are doing, no problems should arise. Just a newbies .02.

While I agree that you're probably ok as long as you disclose and your sellers are ok with it, you are DEFINITELY an agent of these people and thus are legally (and morally) obligated to act in their best interest.

If they are motivated enough to need to sell ASAP they likely will not care that you have a buyers list lined up for them.

Thank you for the welcome Chris!
I appreciate what you said about how a deal like that might make you question someone's moral code, because I hadn't thought about how it might come off to someone else. My intention is definitely not to deceive, so when I meet with a seller I will ask them how they'd like to market their house (signs, MLS, investors) and present it as an option and not something that HAS to be done.
I don't want to stress the sellers because in this economy, I see more and more 'For Sale' signs; some of them for families that have raised their children in those homes, but can no longer afford it. So I definitely don't ever wanted them to feel cheated, or like they got the short end of the stick.
However if they are very motivated and need to sell, as Steve said, I don't think they'd mind. The best interest of the seller will always be my priority. I will always get their input on how they'd like things done, and if using another method, I'll tell them and get it in writing so there are NO confusions!

I appreciate everyone that has responded so far, and I look forward to reading more from you!

This is going to be a question for your Broker who will be responsible for your business dealings. Angie hit the nail on the head. You can call who ever you like on the way back to the office to enter your MLS data. There is nothing wrong with giving certain buyers a "headsup".

Again, ask your Broker, but unless you are in a Realtor, you can list without putting anything on the MLS. When you get to your class you'll find out that not all brokers/agents are Realtors, while they are usually in commercial lines, you can choose to list and sell yourself....but that might tough to do.

More than likely, your new Broker will be a memeber of the MLS and a Realtor. They will require that your listings be listed and usually with a time requirement, like withing 48 hours of the signed listing.

In reality, your MLS asking price will probably be more than what an investor will want to pay. Your seller may not appreciate real quick low ball offers right off the bat, before the property is really advertised, they could think you're trying to pull something if you don't fully explain what you're doing.

If you're listing a property held by an investor and they need to dump it quick, your idea might be welcomed. Good luck, Bill