Maximize Your Assignment Fees

List wholesale contracts on the MLS and collect bids from investors, institutions, and retail buyers.
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Demand

Reach millions of buyers and price correctly the first time

Broad Exposure

Promote your opportunity on the MLS with an experienced broker to explain the nuances to other agents and end buyers.

Market Pricing

Avoid sideling buyers with too high a fee and avoid leaving money on the table with too low a fee. Let the market decide.

Legitimacy

Help buyers feel good about buying your deal

Confidence

Help traditional buyers feel more comfortable participating. Pellego is one of the largest brokerages in Washington.

Transparency

Large buyers don't like wasting their time on highest and best. If they see the price, they are more likely to participate.

Certainty

Committed buyers and approved contracts

Registered Buyers

Winners must pay a non-refundable reservation fee upon winning. If they back out, the funds go to the next bidder.

Standardized

Buyers can purchase your contract with confidence, knowing that your using our contract or one that we signed off on.

Don't want to wait?

Let us know how we can help
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Assignment Pricing

Flexible pricing for one-off deals and high volume wholesalers

Listings must be approved by broker. No charge until approval.
Listing fee paid up front. Listing commission paid at closing.
Listing commission above $600,000, otherwise flat fee of $3,000-$6,000.
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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.

What if I have a tiny commission?

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.

Do you accept new licensees?

Yes. New agents pay an additional $650 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.

Is there a minimum commitment?

No, you can transfer anytime.

Can I upgrade to the business account later?

Yes, you can upgrade any time. If you start on the Essentials plan and switch to the Business plan, there is a 30 day period before new transactions use the new pricing.

Are you a member of NAR?

No. Our agents in Washington are not Realtors, so you don't pay Realtor dues.

Where is your office located?

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.

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.

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.

How do I transfer my license?

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

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.

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