Will technology ever phase out individual wholesalers?

Question

Hi everyone,

I'm curious to hear your thoughts on the following question, which I'm going to keep very short and to the point: Do you think that with the advent of sites like Zillow and the like making people virtual offers on their homes, individual wholesalers could become extinct? Looking forward to hearing everyone's thoughts!

Will

Steve Morris · Answer

"I honestly wonder how stupid, addled, innumerate or supinely ignorant one has to be to transact inreal estate without consulting one or more of these online resources."

Unfortunately, they exist, respond to postcards and robotexts and have no clue of FMV.  Wholesalers love them.

Mike Cumbie · Answer

I don't think it will happen anytime soon. It's not about finding a person who has gone out looking to sell. It's about the person who doesn't want to spend the time to sell. The estate who just hasn't bothered with it. I have more off market deals in the works for clients right now than I do on market deals. Property I have located as a buyers agent that was never listed. Anyone can put on an auto alert at Zillow or the MLS. But online lead sources produce at like 4%. Which turns into a whole lot of calling and non motivated people who figures they would press the "Tell me more" button because they were bored.

I have converted at much higher rate people I met getting coffee or a sit down lunch at a small little bar. Just my 2 cents

Darius Ogloza · Answer

It already has.  People were still manufacturing buggy whips while the Model A was being churned out.

I honestly wonder how stupid, addled, innumerate or supinely ignorant one has to be to transact in real estate without consulting one or more of these online resources.