In my 40+ years working in the real estate industry I thought I had seen it all – competitive buyers’ markets and hot sellers’ markets. But what we are now witnessing in Nebraska is very concerning – national wholesalers and investors aggressively marketing themselves with bogus claims to buy properties at top dollar for cash and with no inspections. This too-good-to-be-true offer often takes advantage of sellers while creating an unstable local housing market.
Up to 30% of home sales are going to these firms who have spent countless thousands of dollars with a twisted message that “real estate agents fees are expensive and home inspections cause sellers trouble.”
What is happening is wholesalers are purchasing homes from local people for very low prices and then immediately reselling them on the market for $20,000+ or more profit per home. Investors add to their rental portfolio, thereby removing these all-important entry level homes from our market.
While I am not a real estate agent, I firmly believe people thinking of selling their home should get a second opinion from an experienced agent to discuss the current market, the realistic value of their property, and how to get the most money (and less stress) during the sale.
When people ask me my opinion, I always recommend trying to sell to local people through a reputable real estate agent. Doing so has many benefits – including supporting the local economy.
Steve Vacha
President
Home Standards Inspection Services
