Using real estate agents to find wholesale deals

[Steven McPherson]

I am planning on getting my real estate licensed, but until then I have a question.  Has anybody partnered with real estate agents to help them find wholesale leads?  Are the agents usually cooperative with this?  Any advice for what benefits a wholesaler can offer an agent to make the relationship mutually beneficial?

[Trey Watson]

If you're wholesaling it definitely pays to connect with agents on both sides- the buy and the sale. I am licensed but I work for a large wholesaler and have had experience on both sides.

If an agent has a property, they know they can call me and get an accurate ballpark offer over the phone within an hour or 2. If my ballpark is close to the price they want for the property, I go look at it in person and make them a real offer. Agents want wholesalers who are not going to waist their time and who will shoot them straight. This saves them time.

On the sale side, agents who have investors often have trouble finding properties that suit their clients profit requirement. If you can make an agent feel comfortable enough with your process, the agent will work their client for you and now both of you get paid (Make sure not to step on any toes and run all communication with agents client through the agent). Aside from showing the agent respect, the important part is to lay out all the fine print about your process and closing costs up front before you show any of their clients houses. This will save you both time and grief down the road. Transparency and having a seamless and established system of contracting and closing are key to making the agent feel comfortable working with you.