Sunday, June 5, 2011

The Ugly Secret About Some Of The People That (pretend to) Buy Ugly Houses.

By Troy Corman,

For the life of me, I can not figure out what benefits real estate "wholesalers" provide to this world other than screwing poor, weak or ignorant home owners out of their money. Sure, they feed "real" real estate investors fire-sale real estate deals, but it's often at the expense of some ignorant or desperate seller who doesn't know any better.

A professional Realtor has a fiduciary duty and loyalty to you, the client, to provide professional advice and to represent YOUR interest. A realtor's goal is to get you the maximum price for your home that the ENTIRE free market determines.

When you list your home in the MLS, it's marketed to thousands of potential buyers, on tons of web sites. A wholesaler generally markets your home to a few dozen real estate investors in some club, or puts it on what's called "bandit" signs that you've seen littering telephone poles and street corners.

You see, the "wholesaler" doesn't really care about you. He's going to sell your home for less (often much less) than it would sell for on the multiple listing service, or mls. After all, he's only going to pay you the low-ball-offer you agreed to on a no-telling-what-king-of-contract he's conjured up. And then, he's going to pocket the spread between his offer to you and what a legitimate home buyer or investor is willing to pay. So the more your home sells for, the more he makes - instead of YOU.

So Mr. Wholesaler is likely to tell you your home needs thousands and thousands worth of repairs and improvements - which maybe it does. But he's often going to over-exaggerate this amount, so he can steal your home more effectively.

So beware. If you're in a desperate situation, please consult a professional Realtor for help. He or she will be much better versed in what's best for you - whether it's short sales, loan mods, and can sell your home faster because he or she is marketing it to a much larger buyer market.

So please, don't let wholesalers take advantage of you or your loved ones. Get a real estate professional to represent YOUR interest, so that you and yours can GET WHAT'S BEST FOR YOU AND YOURS!

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