Wholesalers calling listings with "CASH OFFERS"

[Remington Lyman]

Has anyone noticed an uptick in wholesalers calling listing agents with cash offers? I have spent the whole day fielding calls from these out-of-state wholesalers. Not sure why they are calling on listings that are on-market.

I want to teach them how to find off-market deals so they can actually add some value...

[Andrew Bang]

Some wholesalers focus on on-market properties.   If they have a disposition list of buyers that buy discounted on market properties, then they will make offers.   Just a numbers game.  There are investors that don't have the time to call a bunch of agents and make a bunch of offers, they are providing a service of value to these investors.

[Eliott Elias]

On market is a great way to find a deal as well, especially in this climate. Sellers are having trouble selling and wholesalers can move the deals if the numbers work. I've wholesaled a few on market deals 

[Erick De casas]

Assuming they're professional they'll have a list of buyers that they'll assign the property to. There's a lot of on market deals out there and unfortunately some wholesalers work even harder than listing agents to sell a property. For reference I'm a realtor and wholesaler too, if you have any questions on how to filter the good from the bad feel free to reach out.

[Guy Gimenez]

It's a crowded market for wholesalers. I just viewed one where the house had been on the market for a couple of months. The wholesaler sends it to me at just below the former list price and wholesaler states the FMV is $25K higher than the listed price...a price at which the house didn't have any traction when listed. A lot of it can be attributed to what I call BFT...Bigger Fool Theory...the wholesaler is simply throwing mud at the wall in hopes he/she happens to find an investor who doesn't know values for the area.