Peer to peer wholesaling website - Securities violation?

[Jason Hill]

To make things simple as far as what I'm on about think realtor.com meets craigslist, but for investors and wholesalers. I'm thinking of creating a site wherein wholesalers can list their properties with all the stats like ARV, Repair costs, etc, etc. Would be buyers would peruse the site like realtor.com or zillow by putting in their criteria. If they like a property the could contact the wholesaler directly.

My main concern is that, to my knowledge, no one has done this.  The first thought is that this may run afoul of the SEC.  Would this be securitizing the wholesaled property by advertising it to the general public?  If not, is there any other legal ramifications that I'm not thinking about?

Many legal issues are avoided because we would simply be the marketplace, not a broker or agent.