Attn: RE Agents that wholesale
Hi there,
I'd like to hear from any agents who currently have their license as a real estate agent and also wholesale, especially if you're in the Philadelphia area or Pennsylvania. In my wholesaling business if I haven't found a buyer using my own list/marketing methods, I'll do a flat fee listing on the MLS which will usually get it sold. The seller fully understands that I am not acting as an agent and is fine with however I market it, including the MLS.
My question is, does your broker make a cut of anything you make as a wholesaler? If my business as a wholesaler is one that I've established on my own, then does the broker deserve a portion of that because I have my license? Or does your broker only receive commissions from sales in which you're solely acting as an agent? In my mind, anything I make as a wholesaler is mine. Anything I make as an agent, gets split as we agreed.
I'm just looking to see what other agents/wholesalers are doing and what they've agreed upon with their brokers to make the relationship mutually beneficial.
Thanks!