Seeking Investor Friendly Realtor in Washington State
Big state. Where and what do you want to do?
What what area in Washington State?
@Joe Facenda Assignment/wholesale deals
@Naomi Pinger Statewide
I have been a Realtor for almost 30 years and heavily into the investment side for 10 or so. I have yet to find a way a Realtor and wholesaler can find a profitable way to work together. I should perhaps reword that and say an experienced and active Realtor. A new agent may gamble that with the extension of tons of effort a wholesaler relationship may lead to a listing but an experienced agent will know that the time extended on that would be more productive elsewhere. Basically a new Realtor may use a shotgun approach to getting deals and an experienced agent use a rifle. Please correct me if you think I am wrong.
@Joe Facenda I am currently working with an agent
Who does not seem to take the shotgun approach.
But from what I have experienced, you are correct.
Would you have any advice for me as I am just starting out on this venture?
Let me say personally I am a buy and hold investor. And I have worked with many many rehabbers. I have not wholesaled or worked with wholesalers but certainly understand the model.
Also when I say shotgun approach I don’t mean sending you dozens of properties, I mean their business model is to work with as many people as possible to see what sticks.
Okay, that said I think wholesaling is a private endeavor. You need to find a great mentor/teacher (and not someone charging outrageous fees- high price does not mean better outcome)
You need to find a marketing model you are comfortable with and stick to it
And then you need to cultivate a list of rehabbers which may include Realtors with clients who flip.
If a wholesaler approached me with a deal for my rehabbers/client, I would not try to elicit a commission on that deal. I know the upfront margins are thin and I don’t want to kill it for my client by adding in a fee. I would be comfortable knowing I will get paid on the back end and I would know I am sending a good deal to my client. All works out in the end.
Again, I am not sure how a Realtor can get paid a worthwhile amount from a wholesaler. And if I found a seller wanting to sell at a price low enough to allow for a rehab why would I bring it to a wholesaler instead of a rehabber?
Not saying you can’t make money doing this but you don’t need a Realtor.