Build Your Vetted Cash Buyer And Motivated Seller List
Know Your Client When Brokering, Consulting Or Wholesaling Real Estate
There is so much fraud out there!
It might be you - it might not be you!
But there is so many fake deals being floated around on the internet. It seems real estate agents are the best at knowing their client because they are licensed - have to put the deal in the MLS and take drivers license to verify that they are.. ok.
It’s scary. And it can waste your time - years! Some people have wasted years - 7 years - on fake clients - buyers or sellers - whatever you want to call them that you are in the middle of putting together a deal on to make a lot of money - on the internet.
I think it’s tough and want to solve these problems - but you ultimately have to use your own discretion when determining whether a buyer or seller is real and right for you to represent and bring to a negotiation or to the marketplace.
When I say real I mean that they don’t forge documentation. It might look real, with the real names on it - but they might not be. It’s easy to get excited about a big commission or assignment fee if you are wholesaling.
In investments it’s good to interview your client to know what they are a good fit for before placing them with their investments.
In the marketplace, it’s good to know that the buyer or seller that you are bringing to meet other buyers and sellers or real estate agents and investors are real - with I.D., title or deed, and even possibly the much toughted bank statement proving funds in the bank that they are for real and serious. Otherwise, you can end up wasting a lot of time! - and everyone else’s. Not to mention committing a fraud and not get paid.
When I talked to a real estate agent this past week she said she does a lot a work verifying whether her clients are real and that not everybody does this - So you run into a lot of people on the other end of the deal that can’t prove that they are real when negotiating online wasting your time.
What have you done to know your client better?
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