How To Wholesale Real Estate With A Realtor (2026)

If you’ve ever wondered how to wholesale with a Realtor, you’re not alone—and the truth is, it might be the smartest move you can make to scale your business. While wholesaling is known for being one of the fastest, most affordable ways to break into real estate, most investors overlook a powerful tool hiding in plain sight: the MLS and the agents who control access to it.

Sure, agents and wholesalers haven’t always worked well together. But when you understand how to approach Realtors the right way, you can turn those one-off deals into long-term partnerships that benefit everyone involved.

We even put together a free downloadable resource—Download the How To Wholesale Real Estate & Legalities Guide—so you can start wholesaling with Realtors today using proven strategies that work.

In this article, you’ll learn exactly how to build trust with agents, how to find wholesale deals on the MLS, and how to structure win-win assignments that keep deals flowing and relationships strong.

What Is Wholesaling?

Wholesaling is a real estate strategy where investors get a property under contract, usually at a discount, and then assign that contract to another buyer for a profit. It’s especially popular with motivated sellers who want to skip the hassle of listing their home, making repairs, or waiting for the right buyer.

In most cases, wholesalers focus on distressed properties or homes facing financial trouble like foreclosure. But there are other reasons sellers might choose to work with a wholesaler—think divorce, job loss, or inheriting a home they don’t want to manage.

Here’s how it works: in a wholesale real estate deal, the wholesaler signs a contract with the seller, then assigns that contract to a cash buyer or investor. Instead of closing on the property themselves, the wholesaler passes the deal along, usually in exchange for a negotiated assignment fee.

Because wholesalers don't take ownership of the home, this strategy requires very little capital upfront — just enough to cover an earnest money deposit in most cases. That's what makes wholesaling such an attractive entry point into real estate investing, especially for beginners looking to build income without needing a mortgage or major renovation budget. Real Estate Skills students Chase & Diana did exactly that — closing a wholesale deal in California and walking away with $40,000 in assignment fees on one of their first transactions.

What's The Difference Between A Real Estate Agent & A Realtor?

If you’re learning how to wholesale with a Realtor, it’s important to understand the difference between a real estate agent and a Realtor. While the terms are often used interchangeably, not every real estate agent is a Realtor, but every Realtor is a licensed real estate agent.

A real estate agent is someone who’s licensed by the state to help clients buy, sell, or rent residential property. To earn that license, they must meet state education requirements and pass a real estate exam.

After passing the exam, agents must work under a licensed brokerage before they can legally practice. Over time, some agents go on to become a real estate broker, which requires additional experience and credentials.

To become a Realtor, however, an agent must join the National Association of Realtors (NAR) and agree to follow the association’s strict code of ethics. This membership holds Realtors to a higher standard when working with clients, other agents, and the general public.

If you’re exploring how to wholesale with a Realtor in another state, NAR’s nationwide network makes it easy to find professionals who understand your goals. Realtors can bring serious value to your wholesaling strategy by offering access to MLS data, market trends, and transaction tools that help streamline the entire deal process.

Read Also: Realtor vs. Real Estate Agent: Salaries, Differences, & Similarities 

Key Differences to Know When Learning How to Wholesale With a Realtor

Understanding the distinction between real estate agents and Realtors is essential if you want to wholesale with confidence and build long-term partnerships. Use the table below to quickly compare these two roles and how each can support your wholesaling efforts. 

How To Wholesale With A Realtor (5 Steps)

Representation by a Realtor can be a useful step to take, although it’s typically best to wait until you have a few deals under your belt rather than involving an agent on your first realtor wholesale deal.

That gives you the opportunity to tweak your process and get a better idea of how a real estate professional could enhance your operation and your income. It also offers the opportunity for you to build a track record in wholesaling.

That said, many of our students find success wholesaling with Realtors even on their first several deals. Here are five steps to wholesaling with a Realtor:

1. Build A Cash Buyer List
2. Identify Distressed & Off-Market Properties
3. Enter Into The Purchase Agreement
4. Find A Buyer & Assign The Contract
5. Close & Get Paid 

Wholesale Legally in Any State: Your 2026 Compliance Roadmap

Ready to put these steps into action? We put together a free downloadable resource — How To Wholesale Real Estate & Legalities Guide — that shows you exactly how to wholesale real estate legally in any state. Whether you're brand new or already have a deal or two under your belt, this guide gives you the frameworks, scripts, and legal checkpoints you need to move fast and stay protected. Click the image below to download it for free and start closing deals today.

 

1. Build A Cash Buyer List

Just as with any real estate wholesaling process, you're going to want to build a list of cash buyers before finding a property. There are online real estate investor groups you can join through social media if you don't already have a strong network. You can also join a leads group, an increasingly popular way to network with professionals from a number of sectors.

This is the first step to consider agent representation. By adding a Realtor to your team, you can gain access to their network of cash buyers, in addition to benefiting from their real estate market expertise.

You can find prospective Realtors at networking events and similar gatherings, as well as on social media groups. Talk with several agents to learn which ones work with investors. Once you find an agent you think might be a good fit, discuss when and how they will be compensated. No one wants to work for free. You can then tell them about your track record in wholesaling. As mentioned previously, the relationships between real estate agents and wholesalers have not always been positive, but there's no reason they can't be.

With your Realtor partner, identify a pool of potential buyers. This is a step you can turn over to your Realtor partner or at least share the duties. Be sure you go beyond just introducing yourself to these investors. Let them know you are a wholesaler and learn their specific investment model. For example, you might note if they are a flipper or prefer to purchase rental properties.

Beyond networking events and social media, one of the most effective buyer-finding strategies we teach at Real Estate Skills is a method we call the Google Ninja Trick — and it consistently outperforms every other approach for finding high-volume, institutional cash buyers in any market.

Also, check out this quick video that talks about how you can find cash buyers for free!

Realtor Partnership Checklist: Before You Work Your First Deal Together

Before you bring a Realtor into any active deal, run through every item below. If you cannot check all seven boxes, the partnership is not ready — and rushing it will cost you time, money, or both.

2. Identify Distressed & Off-Market Properties

Once you feel confident about your pool of investors, you can begin identifying potential wholesale properties. While most of your deals may come from off-market leads, it’s smart to also learn how to wholesale real estate with a Realtor by leveraging MLS access. A good agent can research listings, identify motivated sellers, and help you spot properties with below-market pricing—giving you even more opportunities to secure profitable deals.

With MLS properties, you may face a great deal of competition, so it may take consistent effort to get a property under contract at a price that still allows you to turn a profit.

Your Realtor can also look for expired listings of distressed properties. These are often a better source than active listings, as the property owners are usually more motivated.

In our experience, expired listings older than 90 days and price-reduced MLS properties with 45+ days on market consistently produce the most motivated sellers for MLS wholesaling.

In addition to the MLS, you will want to look for distressed properties through other sources, such as for-sale-by-owner sites, social media, direct mail campaigns, community sites like Craigslist, and even driving through neighborhoods in your targeted local market.

Read Also: How To Find Distressed Properties To Buy: The (Ultimate) Guide

3. Enter Into The Purchase Agreement

Before making an offer on a property, you will need to do your due diligence to ensure you know the home‘s maximum allowable offer, or MAO. This calculation tells you what you can expect an investor to offer when you go to assign the contract. Knowing that figure will ensure you go under contract at a purchase price that still allows you to make a profit, as well as compensate your Realtor.

The MAO is calculated by starting with the expected after-repair value or ARV, then subtracting fixed costs, closing costs, rehab costs, and desired profit. Your Realtor can do a comparable market analysis on the subject property to help get a better understanding of how much an investor will likely pay for the property.

When working with a Realtor on MLS deals, we always factor the buyer's agent commission — typically 2.5%–3% of the purchase price — as a fixed cost in the MAO calculation before submitting any offer.

With your Realtor’s help, you can determine your offer, being careful not to go too high, which could result in problems finding a cash buyer.

Read Also: [DOWNLOAD] Purchase & Sale Agreement: Real Estate Contract

4. Find A Buyer & Assign The Contract

Once the homeowner has entered into a wholesale real estate contract with you, it’s time to market it to potential end buyers from among your pool of investors.

If the cash buyer assigned the contract intends to flip the property, you can negotiate your agreement to include a stipulation that your Realtor gets the listing after rehab.

Your Realtor can also be compensated from your fee, either in addition to what you are paid or as a portion of your fee. In doing so, your Realtor is essentially earning a commission on the sale of the contracted property.

Secure Your Deal with Bulletproof Contracts

When wholesaling with a Realtor, a vague or non-assignable contract will kill your deal at the closing table. Download our attorney-drafted Wholesale Real Estate Contracts — including the Purchase & Sale Agreement and Assignment Contract — so every offer you submit is airtight and ready to close.

5. Close & Get Paid

Once you have successfully assigned the contract, the deal closes. Fees and commissions are paid, and if you’ve learned how to wholesale real estate with a Realtor effectively, you’ll walk away with a smooth transaction and a reliable partner for future MLS deals.

At times, you may come across a transaction that requires you to double close. This refers to the need for two transactions to take place simultaneously. As a wholesaler, you will purchase the distressed property at a discount from the homeowner.

You will then immediately sell the home to the investor. There are two common ways a wholesaler can avoid putting in cash to cover the full purchase price in these scenarios. In one, the title company receives the funds from the end buyer and immediately applies them to the original purchase.

A second common method for financing a double close to avoid having to put cash into the deal is building a relationship with a hard money lender or transactional lender.

This provides you with a short-term loan to close the original purchase and then immediately close with the investor as the end buyer. The proceeds from the second transaction can be used to repay the hard money loan.

How To Find Real Estate Agents To Work With When Wholesaling

The easiest way to find real estate agents to partner with on wholesaling houses is by finding a Realtor through participation in local real estate industry events. Often, the local MLS or Association of Realtors will sponsor these networking get-togethers, while also inviting professionals from allied industries. In addition to in-person networking opportunities, you can explore real estate and social media groups.

Another way to find potential investor-friendly real estate agents is to go on a home-buying site like Zillow.

Search for distressed properties that have sold in neighborhoods you want to target and contact the selling agents. If they have produced buyers for properties similar to those you target, they should be able to do the same when you are seeking a buyer for the assignment of a contracted property.

Once you have identified a potential agent partner, knowing exactly what to say in that first conversation is what separates investors who build lasting Realtor relationships from those who get ignored. Watch this breakdown of the exact scripts and talking points that work when approaching real estate agents as a wholesaler.

How To Vet A Realtor: The Discovery Call Framework

Finding agents is the easy part. Knowing what to say when you get them on the phone is where most wholesalers stall. A Realtor who sounds investor-friendly at a networking event may have never actually closed a wholesale deal, never worked with a cash buyer, and never seen an assignment clause in a contract. Without a structured vetting process, you will waste weeks building a relationship with the wrong partner.

At Real Estate Skills, we use a five-question discovery call framework to qualify every agent before committing to a working relationship. These questions are designed to surface three things: whether the agent understands the wholesale model, whether they have the right buyer network, and whether they are willing to operate with the transparency the process requires.

Master the MLS Discovery Call: Talk to Agents Like a Pro

Building a Realtor
partnership lives or dies on that first phone call. Use the wrong words, 
and an agent dismisses you as another amateur investor. Use the right
framework, and you become the one wholesaler they actually want to call
when a distressed listing hits their desk. Our free Discovery Call Script
gives you the exact language, sequencing, and psychological triggers that
turn cold agent outreach into long-term deal flow partnerships.

Download Your Free Discovery Call Script Here

Wholesaling With Real Estate Agents: Pros & Cons

As with most ventures, partnering with a real estate agent in your wholesaling real estate business has both benefits and drawbacks. Understanding where the advantages lie can help you determine what is right for your wholesaling operation.

Pros

• Risk management: Having an agent represent you in your transactions can help to mitigate liabilities — a benefit most wholesalers overlook entirely. Ours is a lawsuit-happy society. An agent with E&O insurance adds a layer of professional protection that a solo wholesaler simply does not have.
• Quality of life: While you may make a little less per deal on MLS properties, you gain the support of an entire real estate brokerage behind your business. That infrastructure allows you to increase deal volume and net income without working harder — leaving more time to actually enjoy the wealth you are building.
• Cost savings: Paying a Realtor may feel like an added expense, but it is almost always more cost-effective than hiring a team of assistants. A Realtor brings licensed expertise, MLS access, and negotiation experience that a general assistant cannot replicate — and their fees are only paid when deals close, not as a fixed monthly overhead.

Cons

• Ownership of investor relationships: If you rely on your Realtor to build and maintain relationships with cash buyers, you could be back to square one if the partnership ends. Your buyer list must always exist independently of any single agent relationship.
• Additional cost: Each transaction differs, but there will be times when you need to compensate your Realtor directly from your assignment fee. This is a fixed cost that must be factored into your MAO calculation before you submit any offer — not after.
• Building trust takes time: The relationship between wholesalers and real estate agents has not always been a positive one. It will likely take consistent effort to find the right Realtor, educate them on your model, and convince them that a wholesale partnership can genuinely grow their business. That time investment is real and should be factored into your plan.

Read Also: The Pros & Cons Of Wholesaling Real Estate: An Investor's Guide

Why Partnering with a Realtor Boosts Your Wholesale Success

If you're serious about learning how to wholesale with a Realtor, it’s important to understand the unique value a licensed agent brings to the table. Realtors offer access to tools, insights, and connections that can drastically improve your chances of finding—and closing—profitable deals. While many wholesalers operate solo, those who collaborate with agents often move faster and do more volume thanks to the Realtor’s existing infrastructure.

Here are just a few of the wholesaling benefits that come from working with a Realtor:

• Access to MLS data: Realtors can pull up-to-date listings, comps, and property history reports to help you analyze deals more accurately.
• Established Realtor network: Tap into their relationships with other agents, investors, appraisers, and title companies.
• Negotiation power: A skilled agent can negotiate with sellers and other agents on your behalf, boosting your credibility and saving you time.
• Legal compliance: Realtors help ensure contracts, disclosures, and communication stay within state and local laws.
• Increased deal flow: Agents often hear about off-market or pocket listings before they go public, giving you a head start on other investors.

If you already understand the value of working with a Realtor and want to move faster, these five field-tested hacks will help you get more out of every agent relationship you build.

Common Mistakes When Wholesaling With A Realtor

The partnership between wholesalers and Realtors can be incredibly productive — but only when it is structured correctly from the start. These are the most common errors that kill deals, damage relationships, and cost investors their credibility with agents.

Not Educating Your Realtor On How Wholesaling Works

The hardest part of wholesaling with a Realtor is not finding the deal — it is making sure your agent understands the business model before you go under contract on anything. Most real estate agents have never been involved in an assignment transaction. They are trained to represent buyers and sellers in traditional closings. If you assume your Realtor knows what an assignment fee is, what double closing means, or why your offer price looks so low, you will end up with a confused agent who either kills your deal or quietly stops bringing you opportunities.

Before you do anything else, sit down with your agent and walk them through exactly how the process works. Explain what an assignment clause is and why it needs to be in every contract. Show them a sample deal from start to finish. The five minutes you spend educating them upfront will save you weeks of confusion later.

Presenting Yourself As A Cash Buyer When You Are Not

Most beginners fail here because they think misrepresenting themselves will make their offers more competitive. It does the opposite. If a listing agent discovers you have no intention of closing on the property yourself — and they will — you will be blacklisted from that brokerage and word will spread quickly through the local agent network. Real estate is a relationship business. Your reputation is your deal pipeline.

Always be transparent. Tell the listing agent you are an investor who assigns contracts, that your buyer is a cash investor who can close quickly, and that you have a track record of delivering. That honesty, backed by a strong buyer's list, is more competitive than any bluff.

Failing To Agree On Compensation Before The Deal Starts

Nothing poisons a Realtor relationship faster than a compensation dispute after a deal closes. The question of how your agent gets paid — whether from the seller's side, out of your assignment fee, or through a future listing agreement on the rehabbed property — needs to be answered in writing before you make a single offer. Verbal agreements are not enforceable and create resentment on both sides.

At minimum, document the following before starting any deal together: the agent's commission percentage or flat fee, which transaction it applies to, and who is responsible for paying it. If you are targeting MLS properties, the seller's listing agreement may already dictate buyer's agent compensation. Know that number before you run your MAO calculation — it is a fixed cost that directly affects your spread.

Relying On Your Realtor To Build Your Cash Buyer List

A Realtor can introduce you to investors and expand your network. That is valuable. But if your entire cash buyer list lives inside your agent's contacts, you have built your business on someone else's foundation. If that partnership ends — for any reason — you are back to zero with no buyers and no deal flow.

Your cash buyer list is your most important asset as a wholesaler. Build it independently in parallel with any Realtor relationship. Use your own outreach, attend your own networking events, and maintain your own CRM. Let your Realtor add to that list. Never let them be the only source of it.

Ignoring State-Specific Licensing Laws

Several states have passed or are currently enforcing laws that require a real estate license to market or assign contracts — particularly when the property is listed on the MLS. Illinois, Oklahoma, and Michigan are among the states that have moved to tighten wholesaling regulations in recent years. Operating without understanding your state's specific framework is not just risky — it can result in fines, voided contracts, and legal action.

Before you make your first offer on an MLS property with a Realtor, consult a local real estate attorney to confirm what your state requires. Your Realtor partner can also flag compliance issues as they arise, which is one of the underrated legal benefits of having a licensed professional on your team.

How To Wholesale A House Listed With A Real Estate Agent

In addition to working with a Realtor as a business partner, there may be times you end up working with a real estate agent because you want to get an MLS property under contract. While some investors believe that the majority of distressed properties you find will be off-market properties, there will also be times when you come across listed properties where the numbers work.

Explain to the listing agent how wholesaling works, if necessary. Do not present yourself as a cash buyer who intends to close on the property and take possession if you are not capable of closing the deal. It is important to be completely transparent and ensure the agent understands the legality of the transaction.

Otherwise, word will quickly spread through local real estate networks that you aren’t to be trusted, and you’ll have difficulty getting your offers accepted. Be upfront in stating you do not intend to take possession of the property, but build confidence that you are able to deliver a cash buyer from among your pool of investors to close the deal.

How To Close Wholesale Real Estate Deals With Agents

The Short Answer: Closing a wholesale deal with an agent comes down to two things — choosing the right exit strategy (assignment or double close) and surrounding yourself with a title company or attorney who has handled wholesale transactions before. Get those two elements right and the closing process is straightforward for everyone involved.

Once you've had an honest conversation with the listing agent about what you're doing, the next move is to make sure everything closes without a hitch. That includes laying out exactly how the deal will go — whether you're assigning the contract or doing a double close — and surrounding yourself with a team that knows how wholesaling works.

If you're using an assignment strategy, confirm that the purchase agreement allows assignability and that the agent is comfortable with you bringing in a new end buyer. Most agents are unfamiliar with assignments, so it's your job to explain the process and provide confidence that your buyer can close quickly. Make sure the title company or attorney handling the transaction has experience with wholesale deals to avoid delays or confusion.

If you're opting for a double closing, you'll briefly take ownership of the property before reselling it to your end buyer, often on the same day. This can simplify things from the agent's perspective since you're technically the buyer, but you'll need access to transactional funding or short-term capital to make it work.

Throughout the process, keep the agent informed, meet all deadlines, and stay professional. A clean, transparent closing not only helps avoid complications but also builds trust with agents who may bring you more deals in the future.

Do You Need A Realtor To Wholesale?

While there are ways that a Realtor can be advantageous to a real estate wholesale operation, you do not need to engage with a Realtor in order to wholesale houses. In fact, many investors choose to sell a house without a Realtor and handle the process independently. You also do not need to be a licensed real estate agent to engage in wholesaling.

However, if you're wondering how to find a Realtor, partnering with one can provide market expertise when calculating property values, assist in developing and expanding the list of potential cash buyers, and help with searching the MLS for potential properties.

Agents Working With Wholesalers: What To Expect

The Short Answer: As a real estate agent working with a wholesaler, your role spans four core functions — running CMAs to establish MAO, identifying distressed MLS and off-market properties, expanding the cash buyer network, and managing contract compliance at closing. The learning curve is steep in the first 30 days and flattens quickly once you have closed your first assignment together.

If you are a real estate agent new to wholesaling, you may be wondering about your role in the process. You can add value in a number of ways, but you should ensure upfront that you will be compensated for your time through commissions earned when deals close.

Your expertise in transactions and contracts is just one role you might play in representing a wholesaler. Another task is to expand the list of potential cash buyers for assigning contracts. If you have an existing network of investors you've already worked with, you may be asked to combine these valuable contacts with the wholesaler's cash buyer contacts to form a reliable list of potential end buyers for assigning contracts.

You can also play a role in identifying potential properties, both from the MLS as well as off-market homes. Another task you may be involved in when representing a wholesaler is running comparative market analyses on potential properties to assist in determining a maximum purchase price.

What The First 30 Days Of A Wholesaler-Agent Partnership Actually Looks Like

Most agents who partner with wholesalers have no frame of reference for what the first month will demand operationally. Here is a realistic, week-by-week breakdown of what to expect — including the numbers behind each stage.

Legal & Contractual Considerations When Wholesaling with a Realtor

If you're learning how to wholesale with a Realtor, it's essential to understand the legal framework surrounding your deals. Here are the key issues to consider:

• Wholesaling Contracts Must Be Assignable: Make sure your purchase contract includes an assignment clause so everything that comes after is legal.
• Disclosures & Transparency: Be upfront with all parties—especially sellers and agents—about your intent to assign the contract, and document everything thoroughly.
• Licensing Laws by State: Know your local laws. In some states, you may need a real estate license to market or assign contracts legally.
• Commission Agreements & Compensation: Agree in advance on how your Realtor will be paid, especially if they're helping you find off-market deals.

How Can An Agent Benefit From A Wholesale Deal?

The Short Answer: Real estate agents benefit from wholesale deals through three distinct income streams — seller-side commissions on MLS listings, a negotiated split from the wholesaler's assignment fee on off-market deals, or a future listing agreement on the rehabbed property after the end buyer renovates. Beyond direct income, agents who build consistent wholesaler relationships gain access to a pipeline of active investors who transact far more frequently than traditional homebuyers.

As a real estate agent, wholesaling offers you an additional revenue stream that most agents never tap into — and it pays faster than a traditional listing cycle. While a standard residential sale can take 30–90 days to close and generate a commission, a wholesale assignment can close in as little as 7–14 days. For agents who understand how the model works, that speed translates directly into more predictable monthly income.

Just as with traditional real estate, the amount you can earn from wholesaling as an agent can vary greatly, depending on market values in your area and how many deals you close each month. That said, an agent who actively partners with wholesalers and closes 2–3 assignment transactions per month can reasonably add $15,000–$30,000 annually in commission income on top of their traditional sales business — without taking on any additional marketing spend.

Three Ways Agents Get Paid On Wholesale Deals

There is no single compensation model for agents working with wholesalers. The structure depends on the deal, the market, and what you negotiate upfront. Here are the three most common arrangements:

The Networking Multiplier Most Agents Miss

The monetary upside is only part of the picture. Agents who work consistently with wholesalers build relationships with active cash buyers — flippers, landlords, and portfolio investors — who transact far more frequently than traditional homebuyers. A flipper who closes 6–10 deals per year generates 6–10 potential listing opportunities every single year. One strong wholesaler relationship can quietly become one of the most productive lead sources in your entire business.

Some of the investors you work with will be involved in flipping houses, and you may pick up additional listings by building on the relationships you develop through wholesaling. The agents who treat wholesale partnerships as a long-term investor relationship strategy — rather than a one-off transaction — are the ones who see the compounding benefit over time.

How To Wholesale Real Estate With A Realtor: FAQ

Got questions about how to wholesale with a Realtor? This FAQ breaks down common concerns and gives you clear, actionable answers so you can move forward with confidence.

Final Thoughts On How To Wholesale With A Realtor

Learning how to wholesale with a Realtor can open new doors in your real estate investing journey. Partnering with the right agent gives you access to MLS listings, expert market analysis, and a professional network that can help you close more deals, faster.

While you’ll need to account for agent compensation, the increased deal flow and improved credibility often make it well worth it. If you're serious about scaling your business, working with a Realtor is one of the smartest moves you can make.

About the Author

Alex Martinez

Founder & CEO, Real Estate Skills

Alex Martinez is a full-time real estate investor, educator, and the Founder & CEO of Real Estate Skills. Over his career, he has personally acquired more than 33 residential investment properties, generated over $12 million in revenue, and co-led firms responsible for more than $15 million in total real estate sales. Since 2020, he has built Real Estate Skills into one of the leading educational platforms for new and experienced investors alike. He also serves as a mentor at the Lavin Entrepreneurship Center at San Diego State University, where he coaches undergraduate students in real-world business strategy.

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*Disclosure: Real Estate Skills is not a law firm, and the information contained here does not constitute legal advice. You should consult with an attorney before making any legal conclusions. The information presented here is educational in nature. All investments involve risks, and the past performance of an investment, industry, sector, and/or market does not guarantee future returns or results. Investors are responsible for any investment decision they make. Such decisions should be based on an evaluation of their financial situation, investment objectives, risk tolerance, and liquidity needs.