( wholesaling ) Do you pay your agent when they send you deals?

Wholesaling
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( wholesaling ) Do you pay your agent when they send you deals?

Account Closed
Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes

Im gonna get real estate agents so they send me deals to wholesale. So my question is, Do I Have to pay them? Do you pay them when they send you deals to wholesale? Thanks.

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Omar Bunch
Hardin County, KY · Member since 2019 · 53 posts · 16 votes
7y

Fili, I recently asked a question that is similar to this. Based on the feedback I received, it sounds like is the decision is up to you. If that is the case, keep in mind that you want to build relationships, not destroy them. One person informed me that they are up front with realtors and offer them 3% of the sale price. Some may disagree but that realtor if that realtor provided you the property that led to a deal, why not take care of them. Investors frequently offer referral fees to average Joe. In my humble opinion we should take of the realtor because that is their profession and I believe they will be more apt to help you out in the future if they believe they were taken care of.

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  • Omar Bunch
    Hardin County, KY · Member since 2019 · 53 posts · 16 votes
    7y

    Fili, I recently asked a question that is similar to this. Based on the feedback I received, it sounds like is the decision is up to you. If that is the case, keep in mind that you want to build relationships, not destroy them. One person informed me that they are up front with realtors and offer them 3% of the sale price. Some may disagree but that realtor if that realtor provided you the property that led to a deal, why not take care of them. Investors frequently offer referral fees to average Joe. In my humble opinion we should take of the realtor because that is their profession and I believe they will be more apt to help you out in the future if they believe they were taken care of.

    1Reply
  • Account Closed
    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Omar Bunch Thank you Omar!

    0Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    7y

    @Fili Aguirre most agents only send you stuff that's on the MLS. If it's on the MLS why are you trying to wholesale it?

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  • Account Closed
    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Caleb Heimsoth it's a different strategy.

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  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    7y
    Originally posted by @Account Closed:

    @Caleb Heimsoth it's a different strategy.

    But why would the buyer need you? They can just wait for the contract to expire, go around you, and buy it off the MLS.

    This isn’t a very good strategy 

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  • Account Closed
    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Caleb Heimsoth there are buyers that wont wait for the contract to expire.

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Fili Aguirre why wouldn’t they just buy it off the mls?

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
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  • Syed H.
    Developer · NY/NJ/PA · Member since 2018 · 758 posts · 935 votes
    7y
    Originally posted by @Account Closed:

    @Caleb Heimsoth there are buyers that wont wait for the contract to expire.

     but you're literally bringing nothing to the table. Why do you think you can get them to go into contract with you at a low enough price when its already on market fielding other offers? 

    1Reply
  • Tanner Marsey
    Rental Property Investor · San Diego, CA · Member since 2017 · 439 posts · 578 votes
    7y

    @Fili Aguirre

    Not exactly sure what your strategy is but I would advise you to pay someone if they bring you valuable information that makes you money.

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    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Jordan Moorhead Because I have the deal under contract

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  • Account Closed
    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Syed H. The deal wont be on the MLS. I will get real estate agents to send me deals then I will get them under contract and flip it to another investor for 10k fee.

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Fili Aguirre it’s publicly listed, why would someone pay you a premium.

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
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  • Account Closed
    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Jordan Moorhead im gonna give you some cheese. Ill send you a menssage

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  • Lydia R.
    Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
    7y

    @Fili Aguirre Ok first, realtors arent going to send you deals to wholesale when they can list the property on MLS (and are obligated if the client has signed a listing agreement) second why on earth would they send you deals so you can make money if they arent going to get paid?

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  • Account Closed
    OP
    Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
    7y

    @Lydia T. You never know. There are weird people out there.

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