Real Estate Agents purchasing Govt Properties

4 Replies

My wife just went thru the real estate course and passed. We wanted to get her licensed so we could get access to the MLS to buy homes to flip. It seems as though however there may be some downsides and potential violations for licensed agents to having a license and buying various REO's to flip. I have to believe its beneficial to have a license and access to MLS if you are going to flip homes. Does anyone have any insight to this dilemma?

Agents buy REO's all the time, no conflict. However, if your broker is the listing broker for some govt. agencies, there may be some restrictions or extra steps for those listings.

To be more specific her potential brokerage prohibits purchasing homes from HUD, Fannie Mae, Freddie Mac and Wells Fargo because of corporate relationships. Does it make sense to still have a license to access other MLS properties?

Her brokerage must be a listing agent for HUD,FNMA and Freddie which makes all agents and their relatives not eligible to buy . If she doesn't work for a listing agent, it is a non issue

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