Wholesaling an MLS Listed property- Can you Advertise it?

[Michael Morrongiello]

Wholesaling an MLS Listed property- Can you Advertise it?

If you are IN active Contract to Purchase an MLS listed property with an ASSIGNABLE purchase agreement, where you have put up EMD funds and have an active open escrow and you now advertise FOR SALE the "assignable interest you have in a purchase agreement" (not the property) with language in the AD, Marketing Flyers or CL- Craig's List Ad's such as; "We are selling / transferring our rights in an existing purchase agreement..."

Has anyone run into this scenario:

A RE Broker (representing either the Seller or you as the Buyer) stating that you can not advertise this home for sale, and has asked you to cease-and-desist?

They claim you can certainly work within your own networks / contacts to find a buyer but you may not advertise a MLS listing of another brokerage without their written permission.

Read the above carefully and advise IF you have run into this scenario? or How you may have dealt with it?

[Wayne Brooks]

First, you need to understand your state licensing laws....many prohibit this, once you advertise the house details, regardless of any “selling a contract” language. 

Usually you’re urinating into the breeze trying to wholesale mls properties anyway.