Wholesaling on MLS

5 Replies

I was in touch with a real estate agent who put me on the MLS "tickler" system that alerts me to the type of properties I am looking for (i.e. distressed properties). Since these homes are already listed, would the seller still want to do a wholesale deal? Should I contact the seller directly? If most properties on the MLS are going for market value, why would a seller want to sell at a discount if only to have the process go by more quickly. Does anyone have much luck finding deals on MLS?

Sorry for all the questions but I want to be sure I am using my time effectively. 

Many thanks in advance!

In my opinion, you're wasting your time with the MLS. There are already a thousand eyes on those properties and any "good deal" will be instantly bought up by a cash buyer or bid up too high. You can't simply take an MLS property, contract it, and sell it for 5k more. As a wholesaler, you have to find off Market deals. That's basically how we add value to the whole real estate thing. We find good deals for investors. Hope I've helped!

Hi @Marcel Pean . What @Pratik P. said is completely right, except there is some value in having those MLS listings. You can see what properties are selling for in the open market, and start to learn your market so you'll know a good deal when you see one.

It is possible to wholesale off the MLS, but its very difficult. Your energy is better spent elsewhere.

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Originally posted by @Marcel Pean :

I was in touch with a real estate agent who put me on the MLS "tickler" system that alerts me to the type of properties I am looking for (i.e. distressed properties). Since these homes are already listed, would the seller still want to do a wholesale deal? Should I contact the seller directly? If most properties on the MLS are going for market value, why would a seller want to sell at a discount if only to have the process go by more quickly. Does anyone have much luck finding deals on MLS?

Sorry for all the questions but I want to be sure I am using my time effectively. 

Many thanks in advance!

I'm making offers on MLS deals right now. Your best bet is to find something that has been on the market a long time. I go directly through the agent and tell them if they do the deal I'll let them represent me so they can get both sides of the commission. I haven't had any luck but I've heard some people KILL IT on the MLS. You have to put out A LOT of offers.

Worst thing that can happen? You're networking with an agent in your area. It's a no loose situation as long as your nice and professional with them.   

@Marcel Pean

1 yes it s possible to buy deals off MLS. but not the way you are doing it. you would need an agent that knows what they are doing and willing to make tons of offers for you.

2  no do not contact seller directly.  that's what you have the agent for.

in todays world you really need to know how to market to sellers directly.

if you need more help just PM me....

peter