individuals engaged in wholesaling are not required to hold a real estate license as long as they disclose the nature of their interest to potential buyers and do not otherwise engage in real estate brokerage activity. the survey closed in february with more than 4,500 respondents and more than 3,200 open-ended comments with wholesaling experiences. many respondents referenced consumers who had come to them after being confused about their relationship with or nature of the wholesaling transaction, or had been under contract to sell to a wholesaler but it fell through when the wholesaler did not find an end buyer. those who reported having a negative experience tended to express feeling they were misled about the nature of the transaction or confused about whether the wholesaler was the end buyer or a real estate agent.