I am a big fan of just being able to call up one of the folks on my buyers list when I have a property to sell, and knowing that I will get it sold quickly. Yes, it's the easy way if you are lucky to have a good buyer's list, but I don't see a problem with that.
Someone even made the comment the other day that my way was the “lazy way”. A real estate investor in another state recently told me that they always closed on the properties and then listed them on the MLS. They went on to say that they almost always got more money for the house. “After all, there are a fair amount of brand new investors that hire an agent to find them a property. And, most of these brand new investors don't really know what a good deal is.”
Unless this is a property that doesn't need a whole lot of work, I really don't see that happening in my area. All of the investor buyers except complete newbies are only going to pay what the property is worth based on the typical formula most investors use, and I don't see myself taking advantage of folks just getting into the business.
Another fellow said that he has good luck listing his wholesale deals on the MLS because he will typically get multiple investors making an offer if it is a really good deal. I can see the pros and cons on both sides of the fence especially in this case. Take a look and let me know what you think.
Do you have a buyer's list or do you list your wholesale deals on the MLS?
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I am a licensed agent in NY, and wondering how/where I can find out if I can submit listings into the MLS that are under contract as assigned/wholesale deals? To be frank, most of the workers at the local MLS office and members of the board have no idea what a wholesale deal is, so asking them is a waste of time. Can I create a listing in the MLS that is a wholesale deal? I guess the closest I have come is seeing this verbiage in the Rules and Regs of my local MLS,,,,
Section 1.1 – OWNER(S) – Shall be the person(s) having legal title to property or the person(s)’ authorized agent, or person(s) having legal right to sell.
“or person having the legal right to sell” Is that a wholesaler?
I am not an agent Ryan, but my understanding is that you cannot do that. Why don’t you ask that question in one of the forums on BiggerPockets.com. There may be another investor/agent from your area that will have a better answer.