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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 1 times.

Buying & Selling Real Estate

Post: Can a real estate agent wholesale a property and list it? (NJ)

Account ClosedPosted
  • Posts 1
  • Votes 0

Hello,

I'm wondering if it is legal for a licensed real estate agent to get a property under contract as an investor then list it on the MLS (offering a 3% commission) and assign the contract to someone else essentially collecting an assignment fee as a wholesaler (minus the 3%) but using the MLS to do.


To me, this seems like it is practically a net listing but them approaching the seller as an investor may make it a different story. Has anyone encountered this? Is it legal? I’m pretty certain it would be if the individual simply wasn’t licensed since this is what wholesalers do but I don’t know where the lines are drawn. Thanks for any insight in advance!

0 Votes