Anti-Wholesaler tactic

[DL Martin]

I am in Cincinnati attending the Hondros Real Estate Licensing class. Earlier this week, one of the instructors, a broker in Cincinnati, stated that on all of his agency's listings at $100,000 or less, he has the seller sign an addendum absolving him of the obligation to present all offers under a certain dollar amount. He said that all of the brokers in this area have enacted this action in reaction to area wholesalers whom habitually submit unrealistic offers. I thought that this was a pretty clever move on the part of the broker. Has anyone else ever heard of this? DL Martin

[Priscilla Z.]

Nope, never heard of that, and I don't think it's 'clever'.  For starters, who are they to determine what an "unrealistic" offer is and then that turns away potential realistic offers that come from real cash buyers.  Not cool.