Hi everyone, I’m new to the real estate world and after learning a bit I decided I want to start doing contract assignment deals in the market. If anyone has advice on what the closing process of a deal like this looks like, and whether agents are willing to work with you even if you’re not the one actually buying the property yourself, I’d appreciate it.
Hey Yohai - welcome to the game! On-market wholesaling is definitely possible but comes with some key challenges you should understand upfront.
**On the agent question:** Most agents won't knowingly work with someone doing a standard assignment because their commission depends on the deal closing, and they see assignments as added risk. Your best bet is being 100% transparent - tell agents you're an investor who may assign the contract, or better yet, find investor-friendly agents who already work with wholesalers and understand the business model.
**The closing process for assignments:**
1. You sign purchase agreement with seller (as "John Doe and/or assigns")
2. You find an end buyer and sign an assignment agreement with them (usually for a fee)
3. At closing, the title company pays the seller from buyer's funds, you get your assignment fee, and buyer gets the deed. Some title companies are more assignment-friendly than others, so ask around.
**Reality check on on-market:** The margins are tighter because deals are exposed to the entire market. Traditional wholesaling focuses on off-market motivated sellers where you can negotiate deeper discounts. On MLS listings, you're competing with retail buyers, flippers, and other investors all at once.
If you're just starting, I'd honestly focus on building your buyer list first. Once you know exactly what active cash buyers in Cleveland are looking for (bed/bath counts, neighborhoods, price points), you can spot deals that actually make sense to wholesale.
What's your marketing plan for finding deals - sticking to MLS only or mixing in some off-market strategies?
Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
7mo
Most agents won't touch wholesale deals tbh, they're used to traditional buyers and the assignment process confuses them. You'll have better luck going direct to sellers or working with investor-friendly agents who understand assignments. The key is being upfront about your strategy from day one. Have you thought about how you'll find motivated sellers outside the MLS?
Wholesaler · Charleston WV · Member since 2026 · 243 posts · 132 votes
7mo
Welcome. Contract assignments can be pretty simple once you understand the flow.
First you get the property under contract with the seller using a purchase agreement that allows assignment. That means you have the right to transfer your position in that contract to another buyer.
Once the contract is signed, you send it to a title company or closing attorney to open escrow and start the title work. While they are working on that, you market the deal to your buyers list and find an investor who wants to purchase it.
When the buyer agrees, you sign an assignment agreement that transfers your contract to them for an assignment fee. The buyer then closes with the seller through the title company, and your assignment fee is paid at closing.
As for agents, some are open to working with wholesalers and some are not. It usually depends on the agent and the situation. If you are transparent about what you are doing and you bring real opportunities, many investor friendly agents are willing to work with you.