Leverage your license

Source more deals and keep your commission

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Investor Culture

3/4 of our agents invest and represent themselves.

Boutique Support

Licensed transaction support. Experienced managing brokers.

100% Commission

No setup fees or splits. Just $500-550 per closing.

Professional Image

Use our signs and designs, or market your own brand.

Active Network

Meet investors at private events and public workshops.

Upgraded Software

Find more deals in less time, and share deal packets.

Accelerate deal flow

Unlock features to find and share deals.

Identify upside

Find more deals in less time.

Analyze every deal

Filter the MLS by estimated investment returns, re-calculated hourly with Pellego's comp analysis and deal templates.

Search your strategy

Display listings as flips or rentals. Set multiple locations. Look for unfinished square feet and underutilized zoning.

Advance your business

Tap boutique support and meet local investors.

Crush the basics

Set yourself up for success with quality agent infrastructure.

Hire A-players

Expect fast, actionable responses from managing brokers who invest. Enlist a support team that has seen thousands of transactions.

Streamline your systems

Let our signpost partners hang your signs. Update marketing designs with a couple clicks. Jump to MLS pages directly from Pellego.

Look fresh

Enjoy quarterly headshots. Showcase success stories on your web page. Have pixel-perfect cards and signs prepared by our team.

100% Commission Plans

Keep your capital without cutting corners.

Transaction Coordination

Hand off paperwork and scheduling to an experienced licensed assistant.

$50 off with Upgraded Plan

Listing Package
$400

✓ open preliminary title
✓ prepare listing and seller forms
✓ create flyers for printing
✓ order sign post install/removal.
✓ upload photos, go live by 6:00 am
✓ post open houses on Craigslist
✓ open escrow
✓ distribute timeline and contact info
✓ remind you about deadlines
✓ update listing as needed
✓ organize inspection/appraisal times
✓ follow up with people
✓ prepare addenda responses
✓ setup all e-signings
✓ set you as first signer or reviewer
✓ make you look good to your clients
✓ remind you about deadlines

Buyer Package
$300

✓ open escrow
✓ distribute timeline and contact info
✓ coordinate timely earnest money deposit
✓ remind you about deadlines
✓ organize inspection/appraisal times
✓ follow up with people
✓ prepare addenda responses
✓ setup all e-signings
✓ set you as first signer or reviewer
✓ make you look good to your clients
✓ remind you about deadlines

Required for newly licensed agents on their first three transaction.

Have questions?

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Frequently Asked Questions

Are there any additional or hidden fees? Setup charges?

No.

B&O and L&I fees are mandated in Washington, but we pass on 100% of the fees, and with no claims to-date, our L&I rates are as low as it gets.

Where is your office located?

We have a small office located in Pioneer Square, but our agents largely connect at our seasonal BBQs/cook-outs and online on our agent-only Facebook group.

What do you expect and allow?

You do not need to attend meetings. You can work with regular buyers and sellers. You can use your own brand; sell your own rehabs; and assign off-market contracts, so long as you follow local rules/regulations and standard firm policies/procedures.

Do you offer discounts for teams?

Yes. If you are on the upgraded plan, you can add agents for $50/mo. If you break up, agents can keep the $50/mo rate for six months before switching to one of our standard plans.

Why should I bother with MLS deals?

[UPDATE NUMBERS BEFORE PUBLISHING]

From analyzing 13,000 flips in greater Seattle-area since 2002, we find that on average, MLS-purchased flips sell for 1.8x their purchase price compared with 1.6x off-market and 1.4x at foreclosure auctions.

While we do not know the condition of these flips, we think if anything MLS-purchased flips are in better condition, not worse. Furthermore, off-market deals often have an assignment fee and foreclosure deals have a commission paid on top of the purchase price, which makes MLS deals even more favorable than the numbers suggest.
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Our guts tell us that this feels off, and to some extent this is true. The opportunity for luck is greater in these markets, and the top 10% of off-market flips perform better than the top 10% of MLS-purchased flips. Nevertheless, the MLS still presents a meaningful buying advantage for rehab investors.

This suggest there is more supply (deals) relative to demand (competing buyers) when shopping for deals on the MLS versus off market or at foreclosure auction.

From a supply perspective, 4_% of historical flips were purchased from the MLS versus 3_% off-market and 2_% at a foreclosure auction. With more supply, the MLS can absorb more demand.

From a demand perspective, we can say there's roughly 87% of the relative demand off-market as measured by the resale multiples (1.4 / 1.6). Because there are 1.25x more deals on the MLS than off-market (4_% / 3_%), we can deduce there is about 1.09x more demand (87% * 1.25).

In other words, there is 1.09x more demand on the MLS, but 1.25x more supply to absorb it.

We can't say for sure, but we have some theories as to why there is less competition on the MLS than it might appear.

For starters, prospective homeowners cannot easily finance properties that need repairs, and when they do compete it is normally for cosmetic flip opportunities. Many sellers also over price their listings and end up accepting a lowball offer—think of it as a hidden supply on the MLS.

The demand for off-market deals is also is also higher than it appear. From intuition and the advice of others, investors gravitate to the idea that buying off-market or at the auction is less-competitive. The problem is that everyone thinks this way.

In many cases, investors are purchasing overlapping mailing listings and calling on the same FSBO directories.
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This is not to say you should only pursue MLS-listed opportunities. Rather, we believe the MLS should be an active source of opportunities for serious investors. From analyzing 13,000 flips in greater Seattle-area since 2002, we find that on average, MLS-purchased flips sell for 1.8x their purchase price compared with 1.6x off-market and 1.4x at foreclosure auctions.

How do I transfer my license?

Go to this link, fill in your info, and click separate at the end. Forward us the separation email you receive, and we will add you to our firm on the DOL portal. You'll then receive an email from DOL, asking you to click a confirmation link. The last step is to transfer your Lag # on NWMLS, which takes NWMLS a few business hours to confirm.

Are the properties in the background all different?

Yes. Our agents kick ass.

Do you have any job openings?

If you are amazing, we want to know. Here is a list of current openings, and we are always open to unsolicited pitches.

Schedule Call

Frequently Ask Questions

Is Pellego a brokerage?

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Can you connect me with contractors and lenders?

Contractors, no. Lenders, yes. Because contractors are in short supply, any contractor we recommend would quickly become too busy or expensive for the original investor who told us about the contractor. As such, we currently do not connect our clients with contractors.

However, because lenders contact us with new offerings and we see what our clients are getting, we an evolving list of lenders that we are happy to introduce clients to. In some cases, these lenders pay us referral fees. To ensure you stay competitive, we do not allow referral fees that increase the total cost beyond what the lender offers without a referral fee.

Do you have off market deals? Why should I bother with MLS deals?

Yes. Many wholesalers use Pellego and let us know when they have new inventory. We review the deal and the contract and alert the clients that have given us matching criteria.

Thought it may seem counter-intuitive, we encourage our clients to focus firstly on the MLS deals, or what we think of as "pre-contract." From analyzing greater Seattle-area flips since 2002, we see that MLS purchased flips more often than not outperform off-market purchased flips. Additionally, more flips are purchased on the MLS than off-market.

At Pellego, we attack MLS opportunities in three ways:

First, we leverage our data-science core to sort listings, not by how attractively they are priced, but by the probability the seller will sell for the price our clients need. Since we started applying this method in 2016, our clients have consistently purchased more houses below their list price than above (in 2017, in Seattle).

Second, our clients can literally offer more than competitors because we only charge 1% for negotiating and brokering a transaction. This allows our clients to offer as much as 5% more on their purchase price without changing their margin, after considering the savings on the listings. This means that our clients can even compete for popular, obvious deals that get bidding wars.

Third, our clients can make more offers in less time, and do so with more confidence. They can do this because we maintain a distributed team of field agents that document houses when we identify them, with extra videos, photos, and notes. This field report service is available to any of our clients, whether or not we identified the listing. Our clients also gain efficiency with their offer process, because centralize our client bidding process so that only the strong client has to go through the signing and countersigning process.

Do I have to use a Pellego agent or can I use any agent I want?

We do not require any of our clients to use our listing service when they are ready to sell properties they purchased with Pellego. Our philosophy is to earn your business with every transaction.

How do I work with Pellego if I am an agent?

Many of our clients are agents themselves. We treat agents the same as our clients, in that we expect them to sign a flexible, non-exclusive buyer agency agreement. Most of our agent clients use our service when they purchase and then either list the property themselves or use Pellego as a co-listing service to handle the operations. On a case-by-case basis, we also provide license hanging services to experienced investors who use their license for their own purposes.

I’m a wholesaler. How can I work with Pellego?

Our principal focus is to help investors buy properties. We welcome the opportunity to provide investors with additional deals brought to Pellego by wholesalers. If you have a deal under contract or want to touch base with us before getting a deal under contract, contact your Pellego rep or email us at deals@pellego.com.

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