Hey agents,
I am a real estate agent in CALI and recently I have been meeting a lot of wholesalers. I didn't think much of them however when I finally sat down to talk to one in particular, I was a bit intrigued that they are able to get accurate values for the homes/properties they put under contract.
Since Zillow and Redfin are notoriously wrong with their valuation as every home has different characteristics, this is where RE Agents come in. RE agents's jobs are to be experts in real estate valuation and to price a property so they can move real estate (including navigation of lengthly disclosures and contracts)
So I inquired as to how he was able to get his valuations... He says he uses *Redacted site*.. I went and looked into this site and for $99 a month, any person can have pretty much all the information a LICENSED real estate agent has including ownership info, phone numbers, mortgage...etc..
Here is the confusion... as you may know, Real Estate agents are under strict ethics laws governed by the National Association of Realtors (NAR), and we are required to submit background checks w/ livescan documentation before getting licensed.
So here is my question: If people w/o a license are able to access such data with just an easy monthly fee, and get properties under contract, what is the point of being a real estate agent and having to jump through all the schooling and background checks?
and btw. I know wholesalers don't actively engage in the selling process, but them being in the middle of two transacting parties (investor & seller) should be considered a real estate transaction which should require a license.
TLDR: Wholesales should be required to hold a license to practice real estate.
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/w98eo3/real_estate_agents_vs_wholesalers/
Comments
Post a Comment