All Forum Posts by: Sean Campbell

Thank you, @Alex Hileman! You too in Pittsburgh! I was born and raised in Mt. Lebanon so very familiar with the area.

 That's great! Looking forward to staying connected. Thank you again for your insight.

Hi Don! I spoke with my Broker and as long as I am not collecting commission and don't use their internal systems to manage the transaction I don't need to pass it through them. I do, however, need to include an addendum letting the Seller and Investor who I assign the contract to know that I am a licensed agent.

That's awesome! How long have you been doing wholesaling and how long did it take you to start finding and closing deals?

Perfect. Thank you, @Alex Hileman. I spoke with my Broker today and they are ok with wholesaling and as long as I'm not accepting commission or using their internal transaction management/esign software, I do not have to put the contract through them or pay them the normal fee for a traditional transaction. I appreciate the direction on this!

Thank you for the reply and detailed response, @Alex Hileman. I'll connect with my Broker to see what if any policies they may have regarding wholesaling. I actually have a PLLC set up for my traditional Real Estate business for tax purposes and my commissions are paid out through the PLLC, not my individual name. Do you know how that would play into things given you said to wholesale through your LLC to not have to go through my Brokerage? Regarding the disclosing of being an agent and not representing a buyer or seller in the transaction, is that a verbal disclosure you give or is there a standard disclosure the Seller and Investor would need to both sign? Thank you again for your help!

Thank you for the reply and information, Katlynn. I'll connect with my Broker to see what their policies are. Do you wholesale in Atlanta as well as provide traditional real estate services?

Hi @Alex Hileman. I noticed you are a licensed Realtor and wholesaler. I am a licensed Realtor in the state of Florida and I am looking to get into wholesaling myself. I'm not sure if it varies by state or not, but are there any specific laws or rules you need to follow when wholesaling as a licensed Real Estate agent? For example, do you need to run the wholesaling contract through your Brokerage like you do a listing/purchase agreement since you aren't collecting commission, rather an assignment fee? Are there any disclosures you have to provide the Seller letting them know you are also a licensed Realtor? Is there anything else I should be aware of that I haven't asked? Thank you!

Hello BP Group,

I am a licensed Realtor in Florida and wanted to know what, if any rules/laws that you must follow while wholesaling as a licensed Realtor? For example, do you have to run wholesale contracts through your Brokerage like a traditional listing/purchase agreement, or is it not necessary since we are not collecting commissions? Also, are there any disclosures that need to be provided to the Seller letting them know you are a licensed Real Estate agent? 

Thank you!

Sean

Hi David. Thank you for the reply and feedback! I noticed you’re also located in Florida. Would you be open to jumping on a call this week? I would love to pick your brain regarding your experience wholesaling and how to get started. I noticed you’re also a top contributor on this topic, so your insight would be very beneficial and appreciated. Let me know if you’re open to that.