Realtors~ - Posted by Brandon

Posted by Shay McDowell on April 01, 2006 at 17:53:37:

YEAH ! Snack on !.. the only arena that I know whom can handle the sales of wholesaling wouldbe in the private sector is an act of Congress or the Comptroller of Currency !

Realtors~ - Posted by Brandon

Posted by Brandon on February 13, 2006 at 22:30:00:

I am ready to put a house under contract I intend to wholesale. i do no want the realtor to know our plans for the house. Here is my question. When I have the house under contract, and some of my potential buyers want to inspect it, how do i handle this? The realtor said she has to be there for anybody to enter. Given that our realtor does not know we are going to wholesale, what do we tell our realtor to handle this situation? thanks Brandon~

Re: Realtors~ - Posted by The Frisco Kid

Posted by The Frisco Kid on April 05, 2006 at 14:13:26:


It’s not clear to me when you say your Realtor. Is this the same agency that is representing the seller or is this another agent that is acting as a buyers agent for you. Either way it doesn’t matter no matter what the other posters say, per your post the agents will get their commission for the deal, and no one is getting screwed as I read it.

Keeping the fact to yourself that you intend to flip it is not unethical nor unfair it’s just good business practice, even if you have a buyers agent they tend to talk to much and what they don’t know they can’t reveal. What if you were assembling several properties for a development, do this other posters think you should let the cat out of the bag, it would be just plain stupid.

From this you should have learned to put a clause in the purchase contract that you have the right to enter the premises with proper notice to show the property to contractors, repairmen, potential lenders, tenants, co-investors, buyers, etc. I used to use a lockbox chained to a pipe or whatever with a padlock so the seller could remove it during non- showing hours if they were still living there and they could replace it when they were leaving. And frankly the agents appreciated not having to keep meeting me at the property all the time.

Re: Realtors~ - Posted by Mr. Shay McDowell

Posted by Mr. Shay McDowell on April 01, 2006 at 17:50:45:

Then she can see you coming…and has to position herself to protect her image as an Agent on behalf of the Company that has her mutual consent to perform inthebest interest of the Company that Inks her and the Sale: If you want to have an inspection it might as well be your right to do so according tothe law her way so do it and try to patch things that are messed up so far … expalin that you want to )WholeSale( the house; but on a contingency that you have control of it after the sale only…then the conduct of your actions does not fall upon the responsibilities of her ears and her promise to this Good Land of Our’

… I personally do not know of a way other than the Honest way by laying all your cards on the table and explain the benefits of your actions in the wholesale of the home, what you get out of it by offering it to someone otherthan FASTCASH which she is trying to prevent you from getting into trouble withthe company and her on the carpet for trying to be a “good agent”

…color in all the pros and cons till you are satisfied with the total picture then bring in your Wholesale buyer and have a meeting (do Not make it out to be a vindictive meeting just a formality where you yourself do not want to stain America and can get some sleep at night) …

… ,

Re: Realtors~ - Posted by Joe-Ga

Posted by Joe-Ga on March 20, 2006 at 09:27:46:

I have one under contract as we speak like this… I told the realtor to leave the sign in the yard and try to sell it again, IE… double closing.

Re: Realtors~ - Posted by Alex

Posted by Alex on March 07, 2006 at 23:41:23:

I think what you’re doing is not very ethical. You sound like you have a listing agreement, yet want to sell the house to another investor and not involve the realtor. You can’t have it both ways. Either do a for-sale-by owner, or if you are going to use a realtor, give them the work to do, since this is what you hired them for, and they are paid professionals that don’t deserve to be cheated out of bread on their table.

If you want to wholesale it to another investor, you don’t need a realtor in the first place, because houses on the MLS BY DEFINITION are designed to appeal to retail buyers, not wholesale buyers. If you want your house on MLS, you are looking for a realtor. If you want to do a double closing, you don’t need a realtor. But, what ever you want to do, be at least honest with people you do business with.

Have a realtor you trust can help you make multiple deals. Screwing somebody out of their wage will get you a bad rep very quickly and you don’t want that.

Re: Realtors~ - Posted by Tim

Posted by Tim on March 01, 2006 at 19:14:09:

No offense intended, but what makes you think you can buy a property through a Realtor & wholesale it? In my area any house on the MLS for more than a week has been looked at by every investor in town. I have never seen a deal on the MLS I could wholesale, although I have bought several that needed very light rehab(paint/carpet) that I could resell to a retail buyer for a profit. Maybe your area is different.

Re: Realtors~ - Posted by Jack

Posted by Jack on February 23, 2006 at 17:04:10:

My best advise is to be up front with them. Write in your contract that you have the right to show. If they don’t like it so much problem for them, Sometimes relators like to be God. The seller may have a completely different attitude.

Re: Realtors~ - Posted by Rich

Posted by Rich on February 14, 2006 at 19:56:08:

Have you seen the lockbox on the door of the house? It will either require a code or an electronic key. Most of the houses I have looked at require an electronic key that records when and who entered the house. In order for you to enter such a house, you will require one of those keys or the code if its a manual lockbox. No Realtor is going to give you either of those since they are responsible for what happens inside the house (like leaving it unlocked so some local teens can trash the place) whenever their code is used.

Why do you care if your Realtor knows if you’re going to wholesale? Your purchase commission gets paid by the seller anyway. Did you sign a seller’s agreement? If not, you have no obligation to use the same Realtor to sell the place.