Wholesaling Houses: When Sellers Won’t Contract Prior To Viewing Property

Wholesaling Houses: When Sellers Won’t Contract Prior To Viewing Property

As the U.S. housing market continues to improve by leaps and bounds real estate investors are increasingly reporting challenges with getting their offers accepted by sellers and their agents. Beyond the increase in competition, why is this happening, and what’s the workaround for wholesaling CEOs?

One of the biggest roadblocks to more deals being reported by those wholesaling houses in the U.S. is sellers and their Realtors refusing to accept offers regardless of the proposed purchase price until investors have actually made the trip to view the property in person.

Obviously those hoping to do any serious volume of wholesaling houses are highly unlikely to make it out to personally view every property upfront. So why would Realtors and sellers engage in such apparently outrageous demands and what’s the workaround for investors?

There are actually a few reasons why wholesalers experience this hurdle when making offers on homes that should have highly motivated sellers.

The most common might simply be being out of touch with the market. The old relics of the real estate industry that do few deals, or at least few deals outside of their small circles may simply not be used to doing sight unseen deals. New Realtors and sellers can also find this a new concept, or are scared from all of the rumors of scams and fraud lingering over from the last few years.

In other cases it can be experienced real estate agents and sellers that are the stumbling block. Often this can be out of desire to ensure that they are contracting with a solid buyer. They may perceive sight unseen offers as coming from buyers in a hurry or newbie investors shooting out masses of blind offers, and who may quite likely back out after seeing the home late in the transaction.

Then there are those difficult agents that may want to see investors in the flesh to see if they look the part, want to lock them into a higher price on the spot, or could just be deflecting offers until they can double dip on both sides of the commission.

So what’s the work around for those serious about wholesaling a decent volume of houses each month?

Be clear upfront about what you do and help the seller and agent to understand how serious you are. Work to educate the masses on a regular basis. Make great offers, and keep pushing ahead.

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