Wholesaling is a powerful strategy in real estate, but do you truly understand the rules that govern it?
We have a lot of great wholesalers out there in the market place, trying to be honest, ethical and fair, who just don’t know what they don’t know, because their education came from YouTube and online real estate forums. Free education is awesome, but it’s now always right or complete . . . which is why we are hosting this class.
Rick Davis – an experienced real estate attorney and owner of RD Title + Exchange approached us with this idea for a lunch and Learn “Wholesalers can’t represent a buyer or seller in their wholesale transaction” Even if they are a real estate agent, because they are a party to the transaction, they can’t be the seller or buyer’s agent.
This is one practice that is upsetting sellers and buyers and leads to more pushes for regulation of wholesalers . . . and Kansas in particular has been pushing for several years.
This sparked further discussion and we have a few more points for Rick to Include in his discussion:
📌 A Wholesaler can’t be a principle in the deal and represent the original seller or the end buyer – Why?
📌Wholesalers who are also Real Estate Agents, can they represent the buyer or seller and be the wholesaler in the middle?
📌My Brokerage wholesales property, What is my role as an agent in the brokerage – do I represent the buyer, the seller, both, or my broker as principle in the transaction?
📌If I am an Agent but acting as a Wholesaler, do I need an agreement signed by my buyers that I “don’t represent them” before they get on my list?
📌What is the best way for a Realtor who represents an end buyer to assist that buyer in purchasing a wholesaled property? Who pays the Realtor?
📌Can I market a property I don’t own? If I’m the listing agent? If I have it under contract to purchase? Can I market the property or do I market the contract?
📌What’s the difference in marketing when you are double closing vs assigning? Public marketing vs Private Internal Email List?
Have you had any of these questions come up in your wholesale business? If you have not, they will eventually, so be sure to join us for an hour. It’s free for members and guests. All who are registered will receive access to the replay.
