Trying to get into wholesale real estate

[James Oklahoma]

But the only problem I have is should I tell the seller I’m a wholesaler? I wouldn’t want to lie and I have a feeling this could be illegal if wholesale their property without them knowing 

[Julie Muse]

Hey James,

Welcome to the world of wholesaling real estate! You’ve got a great question, and it’s awesome that you’re thinking about this upfront.

Should You Tell the Seller You’re a Wholesaler?

Yes, sir, you should definitely tell the seller you’re a wholesaler. Here’s why:

1. Transparency: Being upfront builds trust. If you’re honest from the start, the seller knows what to expect and you avoid any potential legal issues. Think of it as starting a relationship on the right foot – honesty goes a long way!
2. Legal Safety: Wholesaling isn’t illegal, but deception can lead to trouble. By disclosing your intentions, you’re covering your bases and staying on the right side of the law.
3. Professionalism: Presenting yourself as a professional wholesaler can actually work in your favor. Many sellers understand the benefits of working with wholesalers and may appreciate your straightforward approach.

How to Tell the Seller

When talking to the seller, explain that you’re a wholesaler and that your goal is to find a buyer who will ultimately purchase the property. You can say something like:

“Hey [Seller’s Name], I wanted to be upfront with you – I’m a wholesaler, which means I’ll be looking for a buyer who can close on the property. I work with a network of investors who are ready to purchase, and this process can actually speed things up for you.”

Most sellers will appreciate your honesty, and you’ll avoid any potential issues down the line.

Final Thought

Being honest and transparent isn’t just the right thing to do – it’s also a smart business move. So go ahead, tell the seller you’re a wholesaler, and keep building those solid relationships.

You’re doing great, and I’m cheering you on every step of the way!

Best, Julie Muse