Both involve a party (the wholesaler or contract owner) who does not hold legal title selling the right to purchase the property, but how they are marketed are different.

1. Contract Owner Listing (This we can do in the REIN MLS)
This is where the wholesaler has a legally binding, assignable contract.
A contract owner (wholesaler) signs a new agreement with the owner to act as a partner or agent, allowing them to market the property for a higher price and share the profit.
This is often used to list the property on the MLS.  The wholesaler actually closes on the property (purchases it) for a few hours or days before selling it to the final buyer.
This usually refers to a buyer who has a legally binding, assignable contract and is marketing the property while in escrow, often having permission from the seller to do so.


2. Wholesale Listing (Contract Assignment) (This we CANNOT DO in REIN MLS) - most common form of wholesaling
A wholesaler signs a purchase agreement with a homeowner and then assigns that contract to an end buyer for an assignment fee.
This give the end buyer the legal right to sell that contract not the house.
The wholesaler "lists" or markets the contract itself, not the house, to their buyer list.
The wholesaler never takes title or ownership of the property. The wholesales gets paid an assignment fee from the final buyer.