Buyer wants to see the property

2 Replies

I am a wholesaler, I have a lot of buyers, and I am about to put a property under contract. This property is on zillow, and im dealing with an agent. However, I'm doing this deal online, and the buyer wants to see the property. How can I tell the agent to let all the buyers interest check the property without telling him im a wholesaler?

You really can't. MLS listed properties are not what you want to pursue....

1) the agent will require a PIF in the contract buyer (you) name

2) the property has already been exposed to hundreds of potential buyers and has not sold at/near that price...equals no bargain for your buyers. 
3) buyers usually dump wholesalers bringing them mls properties.

@Bryan Rodas ,

I really don't understand when wholesalers pursue listed properties.  I've heard of it happening every now and again, but it just doesn't make sense.  The agent is going to get their 6% fee.  It's on the market where many, many people have access to it.  The agent isn't likely going to accept an assignable contract, and then there's that whole proof-of-funds thing.

I think if you're going to be a successful wholesaler, you need to learn a couple of things. 

First, be comfortable with what you're doing.  You need to be completely honest with the seller and everyone else involved.  You do not want to come across as a buyer if you're not actually buying.  Now if you might, legitimately, then that's another story.  I know investors who get properties under contract then decide later if they want to wholesale it or keep it.

Second, it's hard finding properties for a discount.  Something that's on the market isn't currently selling at enough of a discount to cover the agent's fee and whatever you might be hoping to make.  You need to find properties where the seller is very motivated to sell, they want to sell quickly, and they know they're selling at a significant discount.  It happens.  Just far less than the amount of people who sell their house on the open market.

If you can't be honest with everyone involved, including the agent, it will come back to bite you.  You really don't want that.