Hello every one, i was wondering is wholesaling in real estate illegal and do you need a real estate license ? thank you
Yes it’s legal. And no you don’t need a license. You only need a license if you are selling someone’s property other than yours. Usually when you wholesale, you own the property. And selling your property to someone else does not require a license. That’s why people can sell their home to private parties without a license.
Thats right, you do not need a license.
You learn to control property, gain equitable interest which give you the right to market and sell your interest.
Realtors are paid commission and wholesalers are not constrained to a percent of sale. They make what ever they can get in the middle of the motvated seller and the investor-buyer.
Jim
in responds to aristotle, ok in wholesaling you dont own the property i thought ?
Yes, Wholesaling is legal and No, you don’t need a license to do it.
You put the property under contract with the Seller and you assign your rights
to buy that property to the Cash Buyer. You decide how much profit you want to make but due diligence should be practiced in research and running comps. 