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Leverage your time. Keep your commission.
Win more deals and keep your commission.
Leverage our brand or create your own, powered by Pellego.
Licensed transaction support. Experienced managing brokers.
No setup fees or splits. Just a flat fee per closing.
3/4 of our agents invest and represent themselves.
Private events and Facebook group for our agents.
See agent only information from the MLS on Pellego.
Keep your capital without cutting corners
Expect fast, actionable responses from managing brokers on your transaction questions. Call or text us anytime.
We don't teach marketing or sales. Instead, we invite home inspectors to show us photos of foundation cracks.
Surround yourself with investors and like-minded professionals
Network with colleagues at private events. 3/4 of Pellego agents are investors. If your network is your net worth...
Meet investors at public workshops and events. Become certified as a "Pellego Pro" and work with our investor clients.
We work for you
We don't provide office space, CRMs, or websites. Instead, we invest in faster support and customer service.
Leverage our reputation as an investor-savvy brokerage, or design your own brand, powered by Pellego.
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Keep your capital without cutting corners.
No.
L&I fees are mandated in California, but we pass on 100% of the fees.
No, you can transfer anytime.
We have a small office in each of our market centers, but our agents largely connect at our seasonal BBQs/cook-outs and online on our agent-only Facebook group.
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.
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.
[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.
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.
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.
Yes. Our agents kick ass.
If you are amazing, we want to know. Here is a list of current openings, and we are always open to unsolicited pitches.
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.
No, you can transfer anytime.
We have a small office in each of our market centers, but our agents largely connect at our seasonal BBQs/cook-outs and online on our agent-only Facebook group.
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.
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.
[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.
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.
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.
Yes. Our agents kick ass.
If you are amazing, we want to know. Here is a list of current openings, and we are always open to unsolicited pitches.
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.
The transaction fee switches to an 80/20 split if 20% is less than the transaction fee, provided that you are not discounting your commission, e.g. you're the seller.
Yes. New agents pay an additional $850 on their first three closings. We don't help you get clients or teach you how to get clients. But we will teach you how to write offers, do listings, and you can text us anytime with random little questions.
No, you can transfer anytime.
Yes, you can upgrade any time. If you move to a lower transaction plan, there is a 60 day period before new transactions use the new pricing.
No. Our agents in Washington are not Realtors, so you don't pay Realtor dues.
We have a small office in each of our market centers, but our agents largely connect at our semi annual events and online on our agent-only Facebook group.
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.
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.
[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.
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.
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.
Give us a call and we will walk you through what to do! 206-566-9456
It takes about 3-4 minutes, and you can find full steps here: How To Transfer Your License
Yes. Our agents kick ass.
If you are amazing, we want to know. Here is a list of current openings, and we are always open to unsolicited pitches.
