Updated about 4 years ago on . Most recent reply
MLS Offers Wholesaling
Hi All,
I am a Licensed Real Estate Broker in Georgia and have several investors(Wholesale) who wish for me to submit properties that they are planning to assign to end buyers. I have never done this before and have reached out to several real estate attorneys to guide me through the process but none have responded back. One investor asked me to waive my commission and would pay me as a wholesaler when she close. I explained to her as a Licensed Realtor, we have to disclose any commission earned. Any advice on how to submit the offer and disclosure verbiage would be greatly appreciated.
Most Popular Reply
As an agent myself, I would be careful with advise you receive from non-agents. I would recommend you contact GAR - since they know the details of their forms, laws, etc. If all contracts are assignable unless stated otherwise, then you have nothing to lose when you ask them. Either it's legal or it's not. I have never done one before, but I would think it's legal, but as you know, it's your license on the line if someone reports you. If you have proof from speaking with GAR, you're fine. If they don't feel it's in the "spirit of the contract" - then, it's a judgement call. I would shy away, but maybe try a different route, as long as your broker understands what you're trying to do.