Do You Need A Real Estate License To Wholesale
Olivia Luz
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This is the case because it does not require a real estate license or any educational requirements. In most cases the answer is no. You cannot introduce a buyer and seller and then take a commission or any other type of fee. As you learn to wholesale real estate you will begin to realize if you re cut out for it or not.
In general those who like to argue that wholesale real estate investors are doing business illegally feel this way because they are not licensed brokers. Broker s license however to do so for others. It will cost you close to if not more than 1 000 to get your license. For those of you who want to wholesale and can t acquire a license based on your history finances or whatever then it s safe to say you re taking a gamble.
Those who defend wholesaling without a license say that wholesaling is not brokering. It s simply signing a contract and then assigning that contract to another and therefore the law does not apply to this situation. Compared to other real estate fields it also requires less of an initial financial investment. It is against the law to practice real estate without a license.
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They are not selling a property but instead selling the ownership of a real estate contract. You just need to be the principal buyer or seller in the respective transaction. Do you need a license to wholesale properties. This would be considered brokering a real estate deal and you must have a license to do this.
It is not necessary to be a licensed real estate agent to wholesale real estate. There s no question that with dedication and hard work you can be successful without a wholesaler real estate license. In conclusion in most cases you will not need a license to begin wholesale real estate investing. Con 1 the cost of acquiring a license.
If you are a licensed real estate agent however you need to disclose as much possible.
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