How to introduce yourself as a wholesaler?

Question

Not sure if this has been discussed, but how do you approach a potential deal? Do you tell them you're an investor or buyer? Or do you tell them you're actually a wholesaler and explain what that is to them? I just passed my real estate exam so do I mention that as well?

Tim Hall · Answer

Hey Nathalie,  honesty is the best policy. Feel them out first. Then if you're not absolutely certain that you can wholesale this property real quick. Say I don't think this property is for me but I have around 150 buyers/ friends/ acquaintances  that I know may be interested in this property. Let me get a contract on this property so I can get my fee on it. Oh btw realtors in fl have to say they're realtors.  Good luck!

Joe Butcher · Answer

There are others who can answer more to this, but if you are a licensed realtor you should check your states disclosure laws. Here in TX you need to tell them upon first contact I believe.

If you are intending to wholesale, do yourself a favor and be 100% honest and upfront with the seller about what you are doing. You'll regret it if you don't. If a seller is truly motivated, they probably aren't going to care...they just want you to solve their problem

Nathalie Hirsch · Answer

Tim Gordon

To be honest, I'm not sure, I thought I'd be able to do both. Sometimes sellers don't want to work with agents but they do want to sell fast, in a case like that I'd have some buyers who are ready. My next question would be- wouldn't I be able to perform the closing of the second deal? I would assume it is possible to do both? I want to do some wholesales while I work on my real estate business and of course be able to partner with others who may need a real estate agent for their investments/ deals. Multiple streams of producing a profit, is my thinking.

Scotty Hamill · Answer

I just tell the seller we are rehabbers and also wholesalers with a huge buyers list...

Tim G. · Answer

Howdy, welcome.

First, as a licensed agent you must legally disclose that on all marketing and communications. If asked, you must answer that.

It depends on what you are. I do always like to ask this though, if you have your realtors license why not just be a realtor instead of a wholesaler?

Dick Green · Answer

Joe's right on the money.  Honesty and full disclosure goes a long way towards preventing chaos in a transaction.  Sometimes a seller's motivation may be something other than profit.

Antonio Chasten · Answer

My two cents is what Tim and Joe said.

Grigory Pekarsky · Answer

As a wholesaler, you might feel like it is difficult to introduce yourself. It can be very tough when there's so much on the line and you're trying to convey your expertise and credibility all in one sentence. You don't want to make it sound like just another agent or broker, but someone who can get the job done and is trustworthy. Here are three ways of doing that:

1) Be specific when you tell people what type of deals you do. Don't say "I wholesale houses." Instead, say things like "I help investors find good deals in my area," or "I have access to properties under $100k." This shows that you know your stuff and can connect them with exactly what they need.

2) Tell stories about your experience in the industry so people feel more comfortable working with you. If appropriate for your business, mention past  clients or specific deals you've done. If you don't have these, work in stories about what you would do if a client came to you with certain scenarios. People want to know they are working with an agent/business that has experience and the know-how to deliver.

3) Ask questions related to their needs so you can exceed their expectations while finding the right property for them. Some examples are: "What are your goals for getting into real estate?" "Is there anything I haven't covered that's important to you?" "What type of properties are you looking at, specifically? Let me tell you why what you're doing is risky." This shows that not only are you knowledgeable about your business, but also take it seriously.

Jessica C Adeola · Answer

I have been told your not supposed to tell the seller you are a wholesaler because they will get angry, I feel it's right to tell the truth. Is a investor the same as a wholesaler because im being told to say im a real estate investor. I need help because im really confused?

How to introduce yourself as a wholesaler?

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