How do i structure working with a realtor on a property i found?

Question

Hello BiggerPockets family, So im new to real estate and ive been working with a great informative realtor in my area. Shes showed me maybe 5 REO properties so far but today I actually found an off market property via a local wholesaler that i may want to put an offer on. How do i structure working with realtors on off market properties i found on my own?

Bjorn Ahlblad · Answer

@Shaquille Chapman welcome to BP. If it were me I'd talk to the realtor anyway and work out a deal for him/her to handle the transaction. Just because it is off market today does not mean it was not on market a month ago 3 months ago, whatever-right? And how will you really know it is a deal. The wholesaler does not represent YOU. I always want someone protecting my back, so in my case I use my realtor regardless of who found the property.

I always get an inspection done by a licensed pro as well.

Sathish Sekar · Answer

If you found an off market property, you don't owe the realtor anything. "off market" means it is not on the official marketplace facilitated by real estate agents. That being said, you should treat your realtor with respect. If the realtor shows you a property you want, you should use them to submit the offer. Otherwise if you find your own deal then there is no need to use the realtor. Most realtors understand this dynamic. Plus you may be able to use your realtor later on. Once you repair your off-market property you can list it with that realtor.