How do I wholesale as a licensed agent?

Wholesaling
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How do I wholesale as a licensed agent?

Cris Francis
Member since 2021 · 2 posts · 1 vote

I am a licensed realtor in Los Angeles and wanted to know if there were any requirements needed to follow being as I am licensed compared to someone who isnt? 

If you have any advice on this please reach out!

Thanks.

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Nabil SuleimanBusiness Member
Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
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@Cris Francis Thats a mixed bag, ethically you can't. The purpose of a wholesaler is to tell the person selling the home that their home is worth 750k and then you sell it for 800k and make the profit. Your entire purpose as an agent is to help the seller sell it for the highest price possible. 

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  • Nabil SuleimanBusiness Member
    Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
    5y

    @Cris Francis Thats a mixed bag, ethically you can't. The purpose of a wholesaler is to tell the person selling the home that their home is worth 750k and then you sell it for 800k and make the profit. Your entire purpose as an agent is to help the seller sell it for the highest price possible. 

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  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    5y
    Originally posted by @Nabil Suleiman:

    @Cris Francis Thats a mixed bag, ethically you can't. The purpose of a wholesaler is to tell the person selling the home that their home is worth 750k and then you sell it for 800k and make the profit. Your entire purpose as an agent is to help the seller sell it for the highest price possible. 

    Not exactly. In such a circumstance, you MUST disclose to seller what your intentions are and better still, offer them multiple options. A. I list your home on the MLS for X price. B - I will offer you $.... cash which is so and so dollars below estimated market value. As a licensed agent, by presenting multiple selling options with full disclosure on each, the seller can make their own informed decision and the agent is not violating any real estate laws or morality.

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  • Nabil SuleimanBusiness Member
    Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
    5y
    Originally posted by @Will Barnard:
    Originally posted by @Nabil Suleiman:

    @Cris Francis Thats a mixed bag, ethically you can't. The purpose of a wholesaler is to tell the person selling the home that their home is worth 750k and then you sell it for 800k and make the profit. Your entire purpose as an agent is to help the seller sell it for the highest price possible. 

    Not exactly. In such a circumstance, you MUST disclose to seller what your intentions are and better still, offer them multiple options. A. I list your home on the MLS for X price. B - I will offer you $.... cash which is so and so dollars below estimated market value. As a licensed agent, by presenting multiple selling options with full disclosure on each, the seller can make their own informed decision and the agent is not violating any real estate laws or morality.

     This is an example of why it’s a mixed bag.  You better have everything super well documented, because if you leave any room for error, you can set yourself up for failure. The answer isn’t no, it’s just be aware of everything you must do to be in line with ethics and laws... even besides that you have the clear cooperation policy to abide by now as well. Just make sure you are fully educated and your broker is as well. 

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