A controversial sales tactic that involves wholesalers making unsolicited cash offers to homeowners is making some people a lot of money and making others very angry.
Ads have popped up promising homeowners that they can sell their home in 24 hours with no fees. Some are offering illegal services with wholesalers acting like Realtors — unlicensed and unregulated.
Here’s how it works: an unlicensed wholesaler approaches a homeowner and offers a private cash sale with no fees. The wholesaler then assigns the contract to an investor and the unlicensed agent collects a lucrative fee of about 10
With no signs of the market slowing down, it’s a case of seller beware.
You should be cautious if you’re getting approached by people who specifically tell you, I’m not licensed and that’s a good thing for you because you’re going to save
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Source: Global News BC