Has anyone listed all-cash wholesale deals on the MLS as FSBO? If so, I’m thinking I should put 0% for the agent commission since I’m not looking for retail buyers represented by agents anyway. I want a rehabber paying all cash. Seller isn’t interested in paying an agent, that’s why she let me wholesale it.
So is it customary to list junkers at 0% buyer’s agent commission if you’re looking for a cash buyer?
Or maybe would it be a good idea to put 3% but payable by the buyer and to be added on top of the purchase price?
Well, I guess it depends on what your local real estate board says you can do. I know my board wouldn’t let me list something at 0% or make it payable by the buyer. How about lowering the commission payable to 1% or 0.5%? Just make the commission payable so low that a participating agent wouldn’t want to waste their time with it. 3% payable by the buyer would be something written in the buyer’s agency agreement, not the seller’s. You don’t put that in the listing.
At the price that you are getting these wholesale deals, I would honestly stay away from listing them in the MLS. Unless you have some type of connection to where you can get the house in the MLS they great. But I am sure that this will be a long process.
That is why i stress, find your buyers first. Find out what they want and you won’t have to worry about listing a house in the MLS to find a buyer. :cool
I’m no fricken Inestine but I think y’all are missing a very important thing…
Why try to pinch, cut, and scrounge to save a few pennies when you’re losing dollars by not lining up your buyers BEFORE you run around putting homes under contract.
Plus, You can’t list a home on the MLS if you don’t own it. You would need to have the owners list it on the MLS and good luck with that…
Oh here sir I’d like to put an Option on your home. then i’d like you to list it on the MLS for me…
I disagree with Eric. You CAN list a fsbo house on the MLS. I’ve done if before with zero problems. I have equitable title and a binding contract in place with my fsbo seller. I get access to the house (cause I ask for it every time) and put it on the mls with a 2 or 3% commission. I sell the house in as-is condition, cash or local bank financing only, and won’t last long. Not only do I list it on the MLS but I also list it on craigslist and also a local fsbo website.
Using these three things I have been able to wholesale a lot of houses,
You just have to have a Realtor that is open to making money creatively. There are so many go getter Realtors that are new and not making any real money with their brokers advice and they
are willing to work with investors like you to get some money in their pockets.
Just show them that you are going to look out for them.
I had a Realtor show up a house and give me the keys to one of her listings so that I can show my cash buyer. She simply handed me over the keys and said sell this house so that I can get a check.