Partnerships with Real Estate Agents?

Question

Hello,

As a Wholesaler I have been told to look for real estate agents to partner with, but want to better understand this strategy. Why would they want to partner with me if we are basically doing the same thing?

If I were to meet with agents what questions would I ask them to get them to work with me? I am just a little confused on this topic and hope someone can help me out with the reasons and some questions to ask agents if I meet them to consider a partnership.

Thank you in advance.

Justin Fernandez · Answer

@Brian Gibbons

Thanks bud! I'm getting my license as soon I get a duty station.

Brian Gibbons · Answer

@Justin Fernandez

That is a nice post!

@Rick Magennis

Welcome to BP.

I would get my license in NJ, and have 5 tools when talking with a home seller.

• Listing - Retail or Wholesale
• Sub2
• Lease Option - Lease Purchase
• Short Sale
• JV with Seller on a Minor Rehab

Be a transaction engineer

Don't Be a One Trick Pony :)

Justin Fernandez · Answer

Even though you do the same things your products are different. You might wholesale a tear down while they short sale an overlevereged property. It's all about relationships and referrals.

The best relationship I've heard of was from Shawn watkins(BP Audio 2012)? As he buys sub2 from from MLS with high DOM referrals from agents.

If you treat others as competition and not as a future possible business partner, you're limiting what you can accomplish.

As far as questions go, how would they fit in your business model? Are you willing to pay a commission on top of a lease option? Toss referrals(short sales, retail sellers)? How can you bring value as a wholesaler to an agent? And how can you create opportunities by working with agents. When you answer those questions, that should give you an idea of what to ask. But I'm not all too sure about doing a partnership, just referrals really.