Property Manager · Durham, NC · Member since 2014 · 203 posts · 115 votes
I'm curious...
As a wholesaler, if you were to receive expired listings from an agent - how would you go about compensating the agent? Flat fee per deal, partnerships, refer the agent to the owners that want to relist?
I've tossed around the idea of offering this opportunity to wholesalers in my area and I'm curious to know what value the wholesalers provide to the agent in this scenario?
Before I received my license and had MLS access I did this. In exchange for sending me expired listings, recent cash sold's and comps for my deal properties I offered to refer any leads that only wanted to list out of the expired listing and would send them any retail leads from other marketing I was doing. You may have to set some realistic expectations on the comps so they are not wasting a lot of your time but putting them on an auto email list for expired takes 5 Minutes and sending them comps for wholesale deals every once and while takes less than 10 Minutes. Since receiving my license I made similar arrangements with a couple investors as the agent in the deal so I find it worth while.
I am not a wholesaler but have used expired listings for mailers to purchase myself.
The only compensation I provide is leads on those who want to list and the listing on any I purchase and flip.
Good luck!
Michelle
Before I received my license and had MLS access I did this. In exchange for sending me expired listings, recent cash sold's and comps for my deal properties I offered to refer any leads that only wanted to list out of the expired listing and would send them any retail leads from other marketing I was doing. You may have to set some realistic expectations on the comps so they are not wasting a lot of your time but putting them on an auto email list for expired takes 5 Minutes and sending them comps for wholesale deals every once and while takes less than 10 Minutes. Since receiving my license I made similar arrangements with a couple investors as the agent in the deal so I find it worth while.
The answer is among the agent, your conscience and you.
Flat fee works.
Paying the agent a commission on anything you end up acquiring through the list the agent give you works.
Entirely up to you.
Here's the way to look at it, though. The agent is getting paid on a deal where he or she wouldn't because of you. Anything the agent gets is a windfall. Perhaps that mindset will help you with your negotiations.