You are not really giving the realtor much incentive to help you with $1,000 commission. For the same time and effort, they can be a buyer’s agent and get 2.5% to 3.5% on normal commission rates.
As most business people place the greatest efforts in transactions with the most incentives, you might reconsider your numbers if you expect help from a real estate agent. If not, you might offer a ‘bird dog’ or the like to bring you a buyer.
If you intend to keep the majority of the profits for yourself, then earn your pay by finding your own new buyer and spend the $1k on advertising and marketing the property.
Considering the properties needs a full rehab, I would say the property is worth about in the teens…like $15k. I got the house under contract for $3500 and I would like to wholesale it to another investor/rehabber to make a profit.
I have been marketing it on my own, but thought I’d also contact realtors who have closed on deals nearby and see if they also have buyers who might be interested in this property. I then wanted to make it worth their while by paying them a commission, but a 6% commission on something so cheap is not much so I thought I’d make it a figure such as $1000…
You may have already done this, but you should try networking with local wholesalers. Usually there are a handful of companies in a given market that have HUGE buyers lists. If your deal is good enough, they may be able to bring in a buyer. Typically, they’ll just mark up your deal to their buyers.
You should also take that deal to your local REIA group. Of course, you can always market it on CraigsList and other free sites