Can I wholesale and be an agent at the same time? are there any ethical things I need to worry about? Will my broker expect a piece of my wholesaling pie? I’m just starting out and would like to be an agent but also want to do my own wholesaling thing Do I need to chose between the two does anyone else here do both and if yes can you please help me with any advice or problems I may encounter or should be aware of
Thanks in advance for the help!!! :
they’re two totally different things. as a wholesaler you’re contracting TO BUY properties.
as a real estate sales agent - your BROKER is contracting TO SELL properties.
you as the sales agent represent the seller through the Broker of record.
if you’re working with a buyer as agent - then you’re broker reps them and you work as the sales agent for buyer on behalf of broker.
if it’s your listing.
wholesaling them is a little different. if you as an agent find the deals when you’re representing a seller - that’s definitely a scetchy situation because you’re duty is to represent the seller - it’s like a conflict of interest and it can get real shady if you start buying your own listings and wholesaling them (not likely).
are you an agent now?
No I’m not an agent yet. I just thought that as I built up my portfolio of properties as a wholesaler/investor I might as well be in the game all the way and be an agent also. I asked the question because it seemed to me there may be a conflict with some deals. If I didn’t get involved with buying the properties I list then there is no problem is that right?