Welcome to the wholesale game ​@Sam Houston! Love seeing new investors jumping in and asking great questions like this.
 

You’re not alone! ​@Maine is also just getting started and have already shared some solid takeaways here in the community from their first few weeks working on-market leads. Maybe they can chime in with what’s worked for them so far!
 

Also tagging some of our go-to experts like ​@Dispomoneymike, ​@Peter Osmanski, ​@Zoerene and ​@Sherman Ledesma - these folks are constantly dropping gold when it comes to creative deal structuring and end buyer strategies, especially for on-market deals.
 

You’re in the right place - keep asking, sharing, and learning!

Hey Sam, welcome. That approach is going to vary depending on what state you are in. I would suggest going to youtube and checking out some of the content by the leaders in the industry. Check out Wholesale Hotline, each of those guys has an abundance of free content on their sites about this issue specifically, no need to reinvent the wheel. I am sure there are plenty others as well. Also figure out who are the big local players in your market and attend local events they either sponsor or attend, Facebook is pretty easy to research that. After gathering info, and watching some content you will see much of it is the same. If you resonate with one of them I am sure they have a course to sell, where you may have the chance to get more details and get to know other of their students, members, community, whatever they call them. 

Great question — and welcome to the game!

Steps to Wholesale On-Market Properties (MLS Listings)

1. Build Relationships with Investor-Friendly Realtors

• Look for agents who work with cash buyers, investors, or fixer-upper properties.
• They can help you find distressed, underpriced, or expired listings where sellers may be open to creative terms.
• Let them know you’re a wholesaler/investor who’s looking to assign deals, and ask if they’re familiar with assignment-friendly sellers or banks.

2. Identify Assignment-Friendly Properties

Not every MLS deal will allow assignments. You’ll want to:

• Search for cash-only or as-is properties – typically signs of distressed sellers.
• Look for long DOM (days on market) listings – these may have more negotiation room.
• Look for REOs (bank-owned), estate sales, or properties with “motivated seller” language.

3. Make Offers with Assignment Language

When submitting offers:

Submit offers in the name of your LLC or your name “and/or assigns”

Use the "As-Is" contract version in your state

Add a clause in the contract (or on an addendum) like:

“Buyer reserves the right to assign this contract without further consent from the seller.”

Important: Many listing agents don’t understand wholesaling or may reject this clause — build rapport, explain you're assigning to your investment partner, and reassure them you will close.

4. Use Short Inspection Contingencies

This gives you time to market the deal to your end buyer:

• Inspection period = your “wholesale runway”
• Standard is 15 - 20 business days (negotiate for at least this time); aim for longer
• During this time, market to your buyer list to find a cash buyer and assign it

5. Assign the Contract

Once your end buyer is locked in:

• Use a standard assignment agreement
• Collect a non-refundable deposit (your assignment fee)
• Send all documents to a title company or closing attorney that understands wholesaling
• Title company will finalize everything and disburse your fee at closing

6. Close Smoothly

The end buyer will close directly with the seller, and you receive your assignment fee at the closing table.

Key Challenges with On-Market Wholesaling

Pro Tips to Succeed

1. Know your numbers – Run comps and rehab estimates just like off-market deals.
2. Be fast – On-market deals get scooped quickly. Speed = advantage/success
3. Keep a strong buyer list – You need cash buyers ready to close quickly.
4. Use a JV model if needed – Partner with other wholesalers who already work MLS deals, as you are learning, then wean yourself as you build your buyers list…Investor lift can help you build your buyers list; however, you can also find them at your local Real estate meet-ups, locate your investor friendly neighborhoods where homes are being renovated and find out who is the “buyer”, introduce yourself and ask for their “Buy Box”. Let’s get you up and running

Let me give you the simple secret that keeps me locking in deals with REALTORS across all types of properties:

If it’s listed on-market, I typically go in about $50K under asking. Why? Because those deals usually qualify for all types of funding—conventional, DSCR, FHA, you name it—which means a bigger buyer pool and easier resale. Plus, most of the time the property is in decent shape or already sold AS-IS, which means fewer surprises.

Off-market deals have their place, but they often come with more rehab, tighter funding, and smaller pools of buyers.

I’ve even locked in price reductions as high as $125K on listed properties.

It’s not magic — it’s just knowing how to work with agents the right way, shooting straight, and moving fast. That kind of transparency gets results and repeat buyers. That’s how I keep the deals flowing. 

Hey ​@Maine, take a look at the excellent tips from some experts. I'm sure they'll help you!

Hey ​@Sam Houston!
I noticed a few folks have already jumped in with some solid insights. Did their answers help clarify things for you?
f you need anything else or want to go deeper on the on-market assignment process, don’t hesitate to let us know - we’re here to support you every step of the way!