Agent/ Wholesaling

10 Replies

Hello, I'm an  agent in the Western, Ma area. Specifically Springfield, Ma.  I want to get into wholesaling a great deal, but not sure how to begin. I've heard others say that the fact that I am an agent , I have an  upper hand in the wholesaling business opposed to others. Does anyone have any insight on how I should start ? Would it be wise to invest in a wholesaling program ,and if so , what would someone recommend as a a good  program in learning wholesaling ? Thanks..Sincerely, Brady Appolon...agent  @ Realliving Realty. 

Hello Brady, im interested in buying in springfield, send me a private message.

Hi Brady,

Save your money on training programs. You can get all the education you need from BP and OJT (On Job Training). Spend your time finding deals. There are quite a few flippers and buy n hold investors in need of properties. Join the Western Mass REIA and network with locals. Take action not courses. If I can help you get your business going in any way feel free to email or call.

Medium bcouture logo 00  1 Bob Couture, S&C Homebuyers, LLC | [email protected] | 413‑314‑3583 | http://www.sc-homebuyers.com | MA Agent # 9534609 | Podcast Guest on Show #154

Originally posted by @Indra H. :

Hello Brady, im interested in buying in springfield, send me a private message.

 Thank you Indra, it is much appreciated.

Originally posted by @Bob Couture :

Hi Brady,

Save your money on training programs. You can get all the education you need from BP and OJT (On Job Training). Spend your time finding deals. There are quite a few flippers and buy n hold investors in need of properties. Join the Western Mass REIA and network with locals. Take action not courses. If I can help you get your business going in any way feel free to email or call.

 Thanks Bob, I will most definitely get in touch....thanks again.

Newbie question: Why wholesale a property when you can list it as an agent? You'd get 6% as the listing agent, wouldn't you. Where I'm at, avg list price is around 400k, which would be a 24k comission. Isn't that better than most wholesale deals? If you're putting in the work to find motivated sellers before they list, I'd think it'd be preferred to represent them as an agent.... Unless they're in a position where they need cash this week. What am I missing?

Western Mass properties are between $100,000 and $250,000.  Agents will make 1.5% or $1,500-$3,750.

Tom

Nolan O'Brien to answer your question - the 6% is usually a split so your estimate of 24k is not going to be his take home ( usually 3% split minus royalty and other fees).  Wholesaling can be useful to an agent who can put themselves in a position to get the sale to a private fix and flip or builder then get the second sale on the retail market.  My suggestion is to start building a cash buyers list and start marketing to probate and see if you can match them.

Originally posted by @Brady Appolon :

Hello, I'm an  agent in the Western, Ma area. Specifically Springfield, Ma.  I want to get into wholesaling a great deal, but not sure how to begin. I've heard others say that the fact that I am an agent , I have an  upper hand in the wholesaling business opposed to others. Does anyone have any insight on how I should start ? Would it be wise to invest in a wholesaling program ,and if so , what would someone recommend as a a good  program in learning wholesaling ? Thanks..Sincerely, Brady Appolon...agent  @ Realliving Realty. 

 When people say you can't wholesale and be an agent, I believe it is scarcity thinking. Why not do both. The key is to systemize both. Don't be a realtor; run a realtor business. Don't be a wholesaler; run a wholesaler business.

I actually think that agents don't have the upper hand. Agents are programmed a single way and that is why wholesale when you could make a 6% commission. Problem with the agent mindset is that agents overprice ugly homes, tear downs and land.

Flippers and developers revitalize communities by fixing up homes. If a gut-out home is bought on the mls, the community had lost a revitalization opportunity. I believe that flippers and developers make America a better country by rebuilding and revitalizing the homes that are about to break down. Dilapidated homes are not only a safety hazard but they also can attract poverty and crime.

Here is why you wholesale. It prepares you to be a flipper and a developer. 

As an agent at Keller Williams, my team sold 152 houses last year. My goal is to sell 200 homes this year. My Big Hair Audacious Goal is to flip or develop 100 houses in 2016. Why not run a realtor business and a wholesale/flip/development business.

Problem with being a realtor is that you are often surrounded by sales people who know nothing. Find a broker who is a saavy investor and use your realtor experience to gain investment experience from a mentor.

All ideas are great. I believe each situation and market is different. I got my real estate lic because i was afraid to enter the market anyother. When i joined a broker and talked to few other agents, they were nice and welcoming, but i was shocked they were not interested in learning about the benefits of investing. In fact, many of them even said they wouldnt work with investors. Later on i met few other agents that were investor friendly.

After i sold my first listing i realized i would rather go with my first goal, to be an investor, but use the benefits of an agent (making my own appointments, access to the mls, etc). I def. believe you can do both if thats what you want and you do it right taking care of disclousing your status. 

Two days ago i purchased a property from the mls, listed by a wholesaler, so i purchased it and got my commission as my own agent, so there you have it a mixes of everything. A wholesaler, an agent, the mls, extra commission and an investment property :)

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