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In the past, real estate transactions were sealed with a handshake, but now contracts are essential. However, even with a contract, there's a risk of being cut out of the deal. Wholesalers need to be cautious to prevent this. The video discusses the four steps to safeguard yourself in wholesaling houses, ensuring both buyer and seller keep their end of the deal. Jerry Norton emphasizes the importance of these steps in securing successful deals in wholesaling.
