Real estate agent wants to wholesale in Colorado, is this legal in Colorado
Hi,
Disclosure, Disclosure, Disclosure!
As a licensed agent you must disclose up front “I am a licensed real estate agent and I am making an offer as a private buyer” or “I am a licensed real estate agent and I am selling this property as a private party and I am not recieving any agency commission” or “I am a licensed real estate agent and I am making a private offer on this property and representing myself as my own agent” or “I am a licensed real estate agent and I am the private seller of this property and I am listing and representing my own interests as a licensed agent”.
Watch out for conflict of interest as in if you contract to purchase a property and are representing yourself as agent on the buying side you can not assign the contract and represent your end buyer in the same transaction as it is a conflict of interests!
Sit down and talk to your broker about Colorado disclosure laws and what he / she expects of you to protect the agency and your license when you are investing / flipping for your benefit!
GR