The Power of the MLS!!!
The Large Font of this Blog, is for those who are seeing impaired. I was scrolling through my Facebook Page, and came to a Video of a Wholesaler. The subject matter was the MLS is dead, and Social Media is the Best Source for Real Estate Deals.
Unfortunately to the Mis-Informed Wholesaler
The MLS(Multiple Listing Service) is one Tool, Real Estate Agents, and or REALTOR(R)'s use to Market a Property(ies) Worldwide. Selling a Home or assisting someone to Buy a Home is more than, "Please Sign Here".
Here is a Wholesale Scenario: Property Owner responds to a Bandit Sign or an Ad on Social Media saying "We Buy Homes, Fast, No Repairs, All Cash, As-Is". They call the number and ask, what's the process? Wholesaler meet and greets Property Owner, and find out the Bottom Line.
Mr, Ms. Seller for an As-Is Property the Value of your Home After Repair Value is $500,000. We are going to get this Property Market Ready at our Expense. No need to Hire a Real Estate Agent. We can Close in 15 Days for $350,000. Seller says where do I Sign? Wholesaler then has the Seller to Sign a Contract giving the Wholesaler Equitable Interest.
The Wholesaler Markets the Property via Social Media as an Off Market Property deeply Discounted at $400,000. A Cash Investor see's the Value of the Property and writes an Offer to the wholesaler for $400,000. The Deal Closes Escrow.
Property Owner receives: $350,000
Wholesaler Receives: $50,000
Investors Flips Property at a Profit of $75k - $110k
Hire a Real Estate Agent, Receive Comps of your Property. Get Educated on the Selling Process from your Licensed Real Estate Agent or REALTOR(R). Property Sold with a REALTOR(R) at between 4% - 6% at $400,000
REALTOR(R) Receives: $16K - $24K
Property Owner Receives: $380,000+ or -
Investor Flips Property at a Profit of $75K - $110K
There are more details of Selling your Home for the Highest and Best Price. Always HIRE a Licensed Real Estate Professional.
Don Alexander REALTOR(R)
1st Prime Realty
CA. DRE LIC 01456248