To all the agents out there, if you got paid 6% commission and someone wholesold the contract would you be mad?
This is a little vague. Are you asking if we had a listing and the seller sold to a wholesaler instead of selling through the agent? Or are you asking if we were selling for the wholesaler?
If you are an agent and have a listing agreement with a seller, then the commission would still be due if they sold to a wholesaler. Unless there is a clause in the listing agreement to say otherwise.
@Jacob Bledsoe No, an agent wouldn’t be mad.....it’s just that an informed agent knows you are a waste of time as the property has been exposed to the whole market of buyers already....you’re not going to sell it for more to people “on your buyer’s list”.
For example if an agent listed a distressed property on the market, and I submit my offer, get it under contract etc, then on the day of closing I assigned it to an investor. Do you think the agent might be upset that I assigned it to another person?
In my opinion I don't think they should get upset. Obviously if you are assigning the contract then the contract itself is assignable, so the agent and seller should know that is a possibility.
Okay thank you for your help
@Jacob Bledsoe I think the hardest part would you being able to get a significant discount immediately from the listing agent. If you're in Vegas (assuming your profile is correct) and a distressed property listed for $250k, it would prob get 5 cash offers at listing price the first day, prob from CA buyers.
So it's pretty unlikely the agent would sell it at any discount at all. Without any discount at all, no experienced buyer would purchase it from you when they already know what the listing price is, as that's public information.
You’re totally right. Nobody would buy the deal at list price. That’d just be foolish. However, if I can build good enough rapport with the agent and the seller is motivated, it’s definitely possible for me to get the property at a discounted price.
It's going to take more than rapport to convince a listing agent to convince a seller to take your lower offer than the other higher offers they're going to get. Once the deal hits the market it's too late, your best bet is to try to find deals before they hit the market.