I need HELP with my first lead (Real Estate Agent Involved)
Alright so I just got my first Virtual Wholesale lead through digital advertising, I didn't call the seller yet because I noticed the address they provided is being listed by a real estate agent. I heard how you have to deal with the Real Estate Agent directly when trying to sell the house so they can get commission. I also heard I need a buyers agent to represent me if I ever acquire the deal????
Is that true?
If so I have a couple questions regarding legalities:
1. Is there anything specific I have to do since this is a Virtual Wholesale Lead?
(The property owner and agent lives in Florida. (I live in Virginia))
2. How should the contract(s) be dealt with, do I give the purchase and sales agreement to the Real Estate Agent or the Seller?
3. Do I have to find a Real Estate Agent to represent me for the wholesale deal? (The one who agrees to buy)?
4. Is there a certain clause I must include in a contract with a real estate agent?
5. How do I calculate profit with Real Estate Commission Fees (Do I just multiply the 0.06% percentage to the ARV/MaximumOfferAllowed?)
Those are the main questions I have regarding a wholesale deal with a real estate agent involved. I know they may sound like dumb questions sorry im a noobie, i've been in this for 2 weeks and really want to get a deal closed.