I try to market other wholesalers properties but I ask for them to sign an option contract so that I can market their property and send the agreement, why is it that many refuse to send the agreement back?
Wholesalers usually don’t care to do marketing fee agreements simply because 80-85% have strong enough buyers list composed of guys who buy and hold, or fix and flip. I would say find a buyer to match up with the property and when you do, call the wholesaler and tell him you have a serious buyer who is interested in purchasing the property and he wants to see it. I’m pretty sure if you bring in a serious buyer, you will get his eyes to open up. At that time write up an addendum with how much ever price your agreement is for. Hope this helps. To your success…Mrflippahouse aka PrinceofWholesaling.
What I’m afraid about that is that I have a buyer and they still won’t do the otpion to purchase agreement then that looks bad on me as a wholesale Marketer any suggestions concerning this?
As of right now, by you just getting a marketing fee you are cutting yourself out of thousands of dollars in potential profits. These are some things that you should do in order to make more cash if desired:
Stop thinking about just getting marketing fees, think bigger!
If you know someone has an interest in selling their property, why don’t you get it under contract with the seller? Allow yourself 30 days to close on it. This way you have time to go out and find a buyer you can assign this property to. You can use your standard Real Estate As-Is contract from whatever State that property is in.
Find your buyer or blast the property out through email and either assign your rights and interest over to your end buyer, or you can double close on it.
P.S. If you follow these steps there is no way that your end buyer can go around you and deal directly with the seller, because you already have an binding agreement with the seller.
*If you think the deal is to good to be true, meaning you negotiated a price with the seller that is just to good to be true. If you feel that the seller may entertain any more offers and try to accept a price higher than your offer, then what you can do is to protect yourself even more in the deal is to go to your local county court house and get the contract recorded. Now if the seller goes around you and accepts another offer then his buyer can’t close on it, because the title will be clouded.
*So in all think bigger and you will recieve bigger profits! To your success, from yours truly “Mrflippahouse” aka “PrinceofWholesaling”
If they initially agreed for you to market their properties but refuse to sign the papers, you won’t really know what their intentions are. I think you are better off working on your own or working with Wholesalers you personally know. When I partner with a friend or someone I’m already familiar with, I don’t think twice about working together on a deal without signing contracts. But if I work with someone for the first time or even with someone I don’t know that well, I make sure that we sign a Joint Venture Agreement. I’ve even had deals where I partnered with other Wholesalers referred by close friends of mine and we didn’t sign any papers. I trust their judgement enough to go on with it.
Bottomline is, you trust your judgement everytime and you don’t want to waste your time on people who don’t seem to mind what’s important to you.
Why not use a Joint Venture Contract ? Its alot easier and there is no risk for them to so, yet allows you to bring you expertise to the table and get paid.