Clarification on using a realtor

6 Replies

Hello all!
I have a question for anyone that is willing to help. Is there any use for a realtor in wholesaling??
Every house i look at ...or at least the majority have a Realtor sign outside! Can we as wholesalers use a realtor to our advantage??
i know that it is illegal to pay them any kind of commission on any particular deal, but that is as far as i know. How can we use them besides having them look for comps, DOM, asking price etc... I see too many houses that have a realtor sign in front. There has to be a way we can use that. Anyone have any success with realtors??
I have a person who contacted me and says she is a realtor and is going to be leaving to become an investor, and she says she has access to mls, and knows where the deals are.
Any help would be great!

Abel

I would like to know this too. I have a close friend who is a realtor and she needs some work. She contacted me today, and of course... I searched the forum and vualah! She wants to do my offers. I didn't even know until I saw this post that I couldn't pay her off of any deals.

If the seller has engaged the services of a realtor to list a property for sale on the MLS, then you certainly can have your own realtor send you those listings, arrange for the access to the building via the lockbox, and then you have your realtor present your offers to the seller's realtor.

Try it. I do just that.

And the seller's listing agreement will have the commission in it; your realtor gets paid at closing from that commission. You don't pay the realtor directly.

Steve is right.......In fact, if the properties that you are looking at have a Realtor Sign on the door you HAVE to use a Realtor.

Also, you can have all the access to the MLS in the world but they are ALL Realtor or REO listings and again you will HAVE to go through a Realtor. The only way that you won't is FSBO's.

I have done around 40 wholesale deals with 1 Realtor. HELL YES , use them to your advantage, you just make the offer like you would any other property. Of course you should make sure you have some buyer's lined up or what do you think that Realtor will do if you get a property under contract and you default at closing? :oops:
Yeah, probably won't want to work with you any more....

So just be careful to take care of your Realtor and any one else in your team and all will be good. :D

Able

OK, I give up, if it's illegal to pay a commission to a licensed real estate agent, then crimes are being committed every hour around the country.

We need to stop all this illegal activity, so I suggest we place policeman at every escrow office and place these law breakers under arrest when they come out with a commission check, so contact your local police department and suggest they stop this crime wave. We want a safer America now.