Looking for Some Guidance
Looking for some guidance… In a wholesale situation where you're using the MLS to find a home, how does the agent get paid? For example, I found a home that I think meets the 70% criteria I'm looking for. I figured out the ARV, factored in the 30% profit for the buyer on the back end (ARV X .70) and the estimated repairs for the Cash Buyers Net Purchase Price. I then added about 10% in Misc. Expenses and my Wholesale fee for a Maximum Allowable Offer. What I'm not sure of is how (where) to figure in the Real Estate Commission the Listing agent should receive?
On a related note, would it do me any good to negotiate directly with the seller, and/or the bank in this situation? Seems to me that if the property is listed on the MLS with and Exclusive Right to Sell, the listing agent is going to get paid anyways, correct?