I've heard alot of success stories where investors get an Agent to mine the MLS for keywords like "fixer-upper" "distressed property" "must sell" etc, then turn around and make blind offers on these houses with the hopes that one or two will accept an offer. Then turning around an wholesaling the property. This sounds like an excellent way to find motivated sellers without doing the typical direcet mailing, bandit signs or other ways of throwing out a huge net hoping to catch even one or two prospects, but my question is,
"What is in it for the Agent?"
Do they end up getting paid when the cash buyer closes the wholesale deal? It seems to me that would only benifit them if they were the listing agent of the property. Unless, in the process of mining the MLS, the become my buyers agent. Which seems like it would work out. I just want to make sure I'm not missing anything, and I'm not wasting some Agents time by discussing this process with them.
Thanks for any input,
Mike