So, I am guessing a class on real estate wholesaling class must have recently let out or something because I have just been inundated with wholesalers bringing me deals this week. But here is what has been driving me crazy about the deals that they have been bringing to me. 

1. All of them are daisy chaining an existing property being wholesaled and marking it up like crazy. For example, there was one property being sold by New Western and all these wholesalers are marking up the property 30-50k and trying to sell it to me, and they give me the same over estimated ARV on the property that came in the original flyer and claiming that is is under contract, just not disclosing that it is New Western that has it under contract and not them.

2. They just grab a property off the MLS and market it to me and want a markup on it without being 100% clear as to whether they have it under contract or not or what kind of deal it is, i.e. short sale, probate etc

All this lack of transparency tends to make me very very wary of wholesalers. Now so I've always thought wholesaling meant the property was under contract by the wholesaler, but I guess this is not how the industry really works? personally, I do wholesale once in awhile but only properties that I have under contract and only properties that I have carefully calculated the ARV and rehab costs and would be willing to rehab myself if I can't find a buyer.

So given the observations, what should my expectations be of a wholesaler? am I expecting too much that they have the property under contract under their own names or companies instead of daisy chaining some other wholesaler's property?

Is there even an industry standard? if there isn't, would it make sense perhaps for us to come together as a group and set certain standards so we know what the expectations are?

Just wanted to rant a little and see if there was a solution to this, or maybe I am the one that has the problem since this is how the industry works?