A Broker question for Wholesalers who are also Realtors.

Wholesaling
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A Broker question for Wholesalers who are also Realtors.

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Rental Property Investor · Austin, TX · Member since 2015 · 280 posts · 176 votes

I'm working on my Realtor License and also looking too Wholesale. Is it common practice to share wholesale profits with your broker or is it only on sales You actually close?

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y

Wholesale deals are not something you would split with your broker. However make sure that your broker is ok with you participating in wholesaling. Most brokers will not be ok with this. Also check with your state real estate commission and make sure that practice is allowable in your state for licensed individuals. 

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Wholesale deals are not something you would split with your broker. However make sure that your broker is ok with you participating in wholesaling. Most brokers will not be ok with this. Also check with your state real estate commission and make sure that practice is allowable in your state for licensed individuals. 

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    1Reply
  • Ned CareyPro Member
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    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    10y

    What does you contract with your broker say? Specifically what profits are you talking about. Details make a difference. 

    Brokers are generally entitled to a cut of commissions. Are you getting a commission on a wholesale deal? Are you structuring this in a way it could be considered a net listing? If you don't understand my questions or why I am asking them you could be stepping into a minefield. 

    Agree with Russel, Your broker probably wont allow it if he or she knows what you are doing.

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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    10y

    Agree with the two above. Huge downside & basically zero upside for a broker to let you wholesale.

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