Can I wholesale as a real estate agent?
I was told as a licensed realtor here in Fresno, CA there are some things I need to watch out for if I am wholesaling as an agent? Is this true and what do I need to be careful of or avoid all together!?
Not exactly sure on the laws in CA, but here's my business answer: I'd pick just one to do.
If you want to build a business as an agent, your reputation is everything. It's very easy for a seller to feel you've wronged them if there are multiple avenues you get paid in from their home sale, not to mention if one avenue your profits increase as their sale price decreases.
I know a few agents who have opted out of their personal investment business to pursue being an agent because they wanted to avoid the potential conflict of interest or unhappy clients
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Quote from @Kaleb Hayslett:
I was told as a licensed realtor here in Fresno, CA there are some things I need to watch out for if I am wholesaling as an agent? Is this true and what do I need to be careful of or avoid all together!?
Without knowing the laws in the state I agree with Justin and pick one. Ask your broker as well if they would even allow you to do wholesaling.
I think you can, but I am not sure. Karl Krentzel out of Tucson used to do wholesaling as an agent I think, you could reach out to him an ask. This has been almost 6-7 years ago though.
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I agree with all of the answers above.
As an agent you have a fiduciary responsibility to your client.
As an investor you have a fiduciary responsibility to yourself.
It's definitely an area to play with caution, I do know a few investors that do both but I would just pick one and avoid any complaints by sellers who change their mind during/after the sale.