Didn't know a wholesale "broker" existed until a guy came through our neighborhood and checked out a house. Was wondering if anyone on here has experience dealing with them? I called our agent in Nola and she wasn't aware of the "market" or system as these properties don't hit MLS - per the guy I spoke to the other day checking out the property. Google leads me to the Than Merill's of the world...

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Posted by plaric

Pike Road, Alabama

Member since Jun 2011

2204 posts

Posted on 3/30/20 at 12:22 pm to Rendevoustavern

Brokers are real. They basically play middle man.

The ones I know have buyers. They hunt for properties (even ones not actively on market) and make it happen.

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Posted by jimbeam

University of LSU

Member since Oct 2011

75703 posts

Posted on 3/30/20 at 12:25 pm to Rendevoustavern

Middle man who finds inefficiencies in the market.

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Posted by Rendevoustavern

Member since May 2018

1548 posts

Posted on 3/30/20 at 12:31 pm to plaric

Got it, they are actively pursuing properties. I'd assume properties in tough shape, abandoned, blighted, off market - that makes sense.

Do you have contact info for these brokers? If so could you email me? tdemail2007@gmail

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Posted by Cousin

The Bayou

Member since Feb 2012

5273 posts

Posted on 3/30/20 at 1:12 pm to Rendevoustavern

If he's using Than Merrill's system, he's not a broker and is a wholesaler. He's just looking to get your house under contract then sell that contract to a real estate investor. He will mark it up and collect the difference. For example, agree to buy your home for $60,000 then sell that contract for $65,000 to an investor and pocket the $5,000 at closing.

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Posted by SalE

At the beach

Member since Jan 2020

2420 posts

Posted on 3/30/20 at 1:31 pm to Rendevoustavern

Some of these guys are fronting for Buyers..the ones that I have come in contact w/ are not licensed and they are soliciting in violation of State law..at least in AL.

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Posted by cmlsu

Baton Rouge, LA

Member since Aug 2011

659 posts

Posted on 3/30/20 at 1:45 pm to Rendevoustavern

Wholesalers find deals and get under contract. They then sell their equitable interest in said property. They can’t advertise and sell an actual property for any valuable consideration without a real estate license.

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