Wholesaling without a real estate agent?!

9 Replies

Hello,

Being fresh in the wholesaling business I have learned some things very quickly. For example, the real estate agent that I had a contract with is not willing to do wholesale transactions with us and is no longer working with us. However, this is how my company has decided to begin our business. How can I do real estate without an agent? We have a member from our team working on getting his license, but for now I am looking for other methods. Please feel free to comment or message me with any tips or advice. Even if you are an agent in Montgomery, Delaware and Philadelphia county, that is will to work with us LONG TERM till we can begin flipping and holding. Let me know! 

Thanks, 

Natalia Latsios

What exactly do you need your real estate agent for if your doing wholesale deals? Doing a wholesale deal has nothing to do with real estate agents, thats why people use them vs an agent. To complete a "wholesale" deal all you need is a seller and a buyer. NO AGENT!! 

But to answer your question even further...yes some real estate agents won't work with wholesalers, some title companies won't work with wholesalers also....so it's just about finding the right person. With all that being said, having an agent who can help you with comps and who is educated in the market is a valuable asset to have.

just my 2 cents...

What you NEED is a title company that has done research in your State about the legality of doing a "simultaneous closing". One where the seller is "A", you are "B", and the person you are wholesaling it to is "C"... btw... C is usually a rehabber. Your title company is who makes this all happen.

The only thing a Realtor does is act as your bird dog, presenting undervalued opportunities.

Natalia, either your realtor has no experience in working with investors or has been burned by working with new investors who can never close a deal. A realtor is only as good as the money they help you earn, so go find yourself a tried and trusted realtor who has experience working with investors. And, my all means don't give wholesalers a bad name by wasting your realtors time. Be prepared and ready to close deals. Best wishes!

Sounds as though someone is attempting to enter into the REI arena with little or no knowledge on how a real estate transaction works. This seems to be a perfect example of the problems in the REI and real estate community.

I have a hard time picturing a Realtor refusing to work with wholesalers unless they have had bad experiences or had their time wasted before.  Granted I am a wholesaler but I think even if I weren't I would like to work with them.  More exposure means a better chance my properties will be sold, and generally Realtors work out deals to get listings on the back-end, so it is possible to get double commissions in some cases.

I would try to get some info from this guy as to why he no longer is willing to work with you guys, but aside from that move on and look for a Realtor who is willing to work with wholesalers.  Work out a deal where they get a fee for every house they send your way.

Originally posted by @Michael McDermott :

Natalia,

What do you mean your agent wont do wholesale transactions?

Give me a call-I can help you out.

 Our previous real estate agent said he is not willing to work with us if we do wholesale deals. He said there isn't very much money in it and liability involved because our investors aren't qualified through him. (He doesn't know them)

Originally posted by @Matthew Vitlin :

I have a hard time picturing a Realtor refusing to work with wholesalers unless they have had bad experiences or had their time wasted before.  Granted I am a wholesaler but I think even if I weren't I would like to work with them.  More exposure means a better chance my properties will be sold, and generally Realtors work out deals to get listings on the back-end, so it is possible to get double commissions in some cases.

I would try to get some info from this guy as to why he no longer is willing to work with you guys, but aside from that move on and look for a Realtor who is willing to work with wholesalers.  Work out a deal where they get a fee for every house they send your way.

 He said that most of his money is made selling the properties and he does not have a contract with the investors purchasing the contracts with us. He also said there is liability involved because the investor is buying the property contract through us... 

Natalia, for me having an agent is good for me at times like doing a fix and flip or some buy and hold. As John said, you don't need an agent to wholesale. I started wholesaling and continue to today. Your title company will handle that. 

 If my agent brings me a deal she gets a commission. If I find the deal I keep the Commission. She is perfectly okay with that. In fact she works quite hard for me to acquire property through her, but say I find one for sale by owner. Then, fix / flip and give her to List. It keeps the team getting payed. 

 I feel having an agent on the team is very beneficial. It took me 4-5 to find one that fits with how I run my real estate investment...

 Best Wishes