Buyer for Wholesale deal - Should I user realtor's help?

5 Replies

Hey I am a wholesaler in the Atlanta area and I finally have a property under contract. I was able to check recent sales and saw where 2 other distressed properties have also sold on the street where my property is located.

The tax assessor site is not up to date on the sales so I do not have access to the new owner's information. They were listed by real estate companies and I have the buyer's/seller's agent information. Should I reach out to them for help? I emailed a buyer's agent for one of the properties and he said he would happily relay the information to his buyer but I want insight before I send him everything. Not sure if they want a fee or how that process works.

Also, I can access recent sales on a county platform for $5/day to gain access to the transaction but of course I would rather attempt to get the information in a more resourceful and economically efficient way. But then again $5 could save me a much more costly expense if I have to pay the realtor.

I appreciate the help in advance! Sorry for rambling.

I would build a relationship with and agent representing investors. If it is an off market deal most of the time they will not take a commission from the transaction. Also they could possibly help move the property for you or tell you what the property is worth by using comps off of FMLS.

Originally posted by @Chance Bridges :

I would build a relationship with and agent representing investors. If it is an off market deal most of the time they will not take a commission from the transaction. Also they could possibly help move the property for you or tell you what the property is worth by using comps off of FMLS.

"Not take a commission"? In that case, how is building up a relationship helping the AGENT/S?...

Not all of the time but most of the time they have a agreement with the investor or since they are licensed agents they can get paid on the HUD. For example if you find the deal for 50,000 you can charge you investor 1500. So he would buy the house for 51,500.

@Mark Sloan Be transparent with the agent about how you work as a wholesaler, but don't tell them the address until they agree to your terms. Start off with a compelling reason for them to listen to you... "Mr. Agent, I am in possession of an assignable Purchase and Sale Agreement that the buyer of 123 Maple Street (the address of the other distressed sale) may be interested in, but I don't know them and you do. Would you be open to discussing how you can make a quick $xx.xx by simply making a connection and doing nothing else?"

Convince the agent to represent the cash buyer as a customer, not a client and have them take a transaction fee vs. a percentage fee. Build the transaction fee of $500, $1,000, or whatever amount you choose into the deal, if your deal's too thin to build in the agent's minimal transaction fee, I'd suggest purchasing a book on negotiating ;-)

You can also try visiting Fulton County deeds and records. A document may be on file just not updated yet on the tax assessor's website yet. 

@Mark Sloan if you have a property under contract and you are looking for help getting it sold lets chat.  If its a good deal we may buy it directly from you.  Send me a PM 

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