Are Brokers/agent not allowed to wholesale/market?
I've been trying to get in contact with wholesalers in my area to look for investment properties. I called one number on a CL ad regarding "SECRET SALE LIST NOT ON MLS" that looked like a wholesaler looking for buyers.
So I meet up with the guy, and he's actually a broker. He starts showing me MLS listings he's printed out in the area and I brush those aside asking about the the off market deals. he pulls out a map of my area with some red dots saying these are the areas where we have some pre-mls leads. then he talks about using techniques other realtors don't use and wants to keep secret...and finally he pulls out an example of a postcard he uses in a mailing campaign, and he says we can target areas you're looking for blah blah. (it has the family with kids angle looking to grow a family in your neighborhood...).
So I ask him about running a campaign like that (because I'm looking to maybe run one with the help of someone who's done it before) and he gets all whispery voiced and says he doesn't want people to know aobut this and can I keep it quiet. I nod...
So then he pulls out an agent exclusivity agreement and wants me to sign it. I decline and thank him for his time and I'll be in touch.
When I searched his number it came up with more "valuation" services etc, but not so much "i'll buy your house cash". he mentioned to me in talking that he does price opinions and then he knows that's a lead for a potential seller before it's on the market. Maybe not so much wholesaling, but trying to keep these pre-market not really wholesale deals in his pocket, a little sketchy, no?
But this experience made me wonder, is it against some broker rules to do some sort of yellow letter type campaign? can an agent wholesale on the side without breaking some sort of agent sacred oath?