Are most realtors wholesaler friendly when it comes to asking for comps since we are out looking for very cheap properties to assign to an end buyer? How do you tip your realtor for going out of her way and looking up comps for you when there seems to not be much in it for them since they know we are wholesaling? Do we even tell them we are wholesaling or just looking into investing?
I’m probably not the best person to answer this question becuz I have not had any good interactions with Realtors. However, I just got a call from one that seen I was advertising a Duplex for sale and wanted to know if I wud be interested in listing it. I said yea, maybe. I asked him if he had any idea wat the current fair market value is?
He told me he could do the comps and asked again if listing was something I wud consider, I told him sure.
I got my comps the next day only because he thought he might have a listing. Unfortunately the FMV came in a bit lower than I have it on contract for.
I then asked if he had any fixer multi units, he wanted to know how I would fund them, I replied, I have cash partners that love these things.
I def wudnt tell him I’m a wholesaler and had no intention of buying them for myself.
I could go on and on about my bad experiences with Realtors, but, you know. I’m trying to stay positive here.
Working with real estate agents can be a challenge. They tend to not like anyone who is “involved in real estate without a license.” The key here is to look at the situation as creating a network rather than getting free information.
Wholesaling the MLS means that you will need to submit the offer through an agent. As long as you find a good agent that is willing to work with you, then make sure that you submit your offers through them. They will get the commission (which makes them happy) and they will be willing to do more work for you down the road.
The clincher here is to be the investor not the wholesaler. Do not tell them you are wholesaling. What you do with the property 30 seconds after you own it is none of their business. Good luck.
Appreciate the good advice Rando…Campbellsimon
Do your self a favor and NEVER mention to an agent that you are going to wholesale a property. Most real estate agents don’t understand wholesaling and really look down on it…I got so feed up trying to find an agent to work with in my business that I decided to get my own real estate license.
If you must work with an agent just let them know you are an investor looking for properties if they find out you are going to wholesale they will be impossible to work with.
This is really interesting, I have been a realtor here for 11 years and I am totally investor friendly. I may have a little advantage since I work with investors on a regular base. I am constantly finding good deals and trying to find investors for them. Send me your information and what your looking for and maybe we can work together. I live and own a brokerage here in greer sc. KB Global Solutions LLC.
A real estate transaction can be complicated, having a realtor helps by making it easy for you. they can get you the information needed to make an informed decision, comparable prices, neighborhood trends housing market conditions and more.
my favorite thing i explain to agents is that im a local investor investing in alot of homes and i do alot of marketing in the area for distressed sellers(divorce,code violations,taxes etc…) and every person i come across ofcourse will not be distressed and that i will refer the sellers to them that i can not get the price im looking for on and in return all i need is comps to make my descison on the properties i send offers to :beer easy peasy!!