Hello everyone, I plan on getting my RE License in a few months when I move to Sarasota, Florida but was wondering if this completely shuts out the door to wholesaling? From what I have gathered the reason this wouldn't work is because as an agent your goal should be to get the seller the best deal possible and the seller may believe if you offer a number on their house then that's what it's worth because you're a reputable agent. If you disclose your role in the deal to the seller is there really anything wrong with this? (Please feel free to reach out and connect with me as I will be doing various different things with real estate and am willing to connect with anyone)
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
5y
If your broker is good with it go ahead. All fees must pass through your broker. I don't understand why someone would give away 20, 30, 50K in equity. Why not buy it yourself. If I have a seller I propose two routes: purchase it for x or buy it for y. Surprisingly, some sellers have opted to take less money (sometimes a LOT less) just to get it gone ASAP. As long as the seller is not misled as to value, you are doing the right thing. I purchased one a couple years back. Seller was informed it would bring 135K listed. They sold it to me for 83K cash. It happens.