All Forum Posts by: Meagan Dorsey

Of course there's good and bad of everything. I became suspicious after watching some "wholesalers" vids on YouTube. The things they were telling people to do was unethical. Trying to hide the HUD statement so the seller can't see how much you sold the house for?

Then a “guru”  that’s on yotube that’s in my city  said he’s licensed so when I looked him up, I found out his license is suspended and he has an open complaint against him. No doubt it has something to do with his wholesaling. 

Its more than black and white with me being licensed.

my broker rep said he would even have to look at the E&O insurance in terms of wholesaling. All it takes is one person complaining and I could be in front of the board.

As a person said above, he doesn’t think sellers shouldn’t be hand held but from my own experience as an agent, I come across so many people every day that don’t understand real estate transactions, so I’m sure wholesalers comes across many, many people who are like a deer in headlights when you are talking to them about selling their house and putting a contract in front of them to sign.

Thanks for your response. I actually had a meeting with a representative of my broker this morning and there are a lot of rules to be careful of when being an agent and doing wholesale. I found out that I can't even put out bandit signs because as a agent, you can't put out real estate signs without your brokerage name and the usual equal housing opportunity images on there.

He said wholesaling is perfectly legal as long as I am careful of how I tell things to a seller. Way too many things to list here.

My whole thing was seeing wholesalers who have no actual plan to buy a property at all but they tell the homeowners that and then sell the contract to an inestor. I've seen wholesalers say you have to tell the homeowners that what you are offering is the best they can get, when in fact if they put it on the MLS, they could get more and find a buyer just as fast.

I am looking into it but will not do anything unless approved by my brokerage. I don't want to do anything that will get me sued or lose my license.

I am a licensed real estate agent. My husband has been looking into getting into real estate wholesaling.

After watching a bunch of videos and looking around wholesaling FB groups, I see that there is a very large majority of people that think that telling homeowners they are the buyers when in fact they really aren't isn't wrong.

Am I the only one that doesn't think this is right?