Wholesaling as a Licensee in NJ
Hello BP,
So I have had my license for about a year now, and really want to get away from working with traditional buyers. I am trying to build a business plan for a wholesaling business that gives me the opportunity to list the home on the MLS if we cannot come to an agreement at wholesale price. Ideally I will acquire my first seller financing deal with my marketing strategy as well. I am currently working under KW in New Jersey.
My question though, is exactly how to structure the business. Am I allowed to collect an assignment fee as a wholesaler? To my knowledge ,I can also service wholesalers by providing them with properties and charging them a marketing fee. My plan would be to get the seller under a listing agreement, give the property to a wholesaler (for a fee), where they find the end buyer and I retain my rights as the listing agent. Is this something I can do legally?
I don't mean to be long winded, but I am really trying to pinpoint a direction I want to go and focus on only that. I also want to be sure I am compliant and not breaking the law or putting myself at risk at any way. If there are any agents running their business around wholesaling in New Jersey, I would love to connect with you.
Thank you,
Justin Pencook