Investor · Smyrna, GA · Member since 2016 · 7 posts · 1 vote
Hello,
As a wholesaler, what possibilities exist to list for sale on the MLS a house which I have under contract? For example, say I talk to the owner of an off market property and then put it under contract to close 30 days. Can I now list it on the MLS? How do I make it work? I am an investor in Atlanta, Georgia. Thank you!
Real Estate Agent · Social Circle, GA · Member since 2015 · 116 posts · 53 votes
9y
There are several legal issues concerning wholesaling and making sure your not acting as an agent. If you list on the MLS, you need to be sure you have those issues covered. I know there are wholesalers list on the MLS, but most of them are professionals. I recently watched a video on this by Phil Pustejovsky. It doesn't answer your question, but it's useful information https://youtu.be/JJwsYWDH7qs
Investor · Athens, GA · Member since 2011 · 306 posts · 156 votes
9y
In the specific MLS there are rules about who can list, that actually are different than what the Law says. You can market a contract, and a property as a licensed agent or unlicensed as long as you inform the current owner of the property that you are going to do that. I have that in my contracts on properties I want to buy whether I will wholesale or not. Check with a good attorney who can show you the law because that is what I did because I am not one! There have been plenty of folks who have been nailed because they have tried doing this and the actual owner had no idea their property would be marketed to other buyers.
Contractor · GA · Member since 2016 · 268 posts · 54 votes
9y
@Brolin Whitaker It is possible. I've been trying to get every wholesaler I come across to partner with me on that very idea. Once you start dealing with a licensee to list though, there are some very important disclosures that we have to make with your seller. A lot more details involved, but it can be done. Contact me if you want to know more.