do you need real estate license to wholesale
Best answer
However,when it comes to real estate wholesaling many people wonder if a real estate license is a must to get started. The simple answer isno?you don need a license to wholesale houses. You just have to be the principal buyer or seller in the transaction.
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Do you need a real estate license to wholesale in Illinois?
In 2019, Illinois enacted a law requiring anyone that conducts more than one wholesaling deal a year to have a real estate license. So far, no other states require licensing, but this might be the beginning of new regulations.
Do you need a license to wholesalers?
When done as a business practice, 渨holesaling?will now come under RELA enforcement provisions and the wholesaler will need a real estate broker license, as well as be subject to consumer protection provisions such as disclosure of self-interest and prohibition against dual agency.
When do you need a real estate license?
To return to the subject, here are a few situations where you may want to get your real estate license. In 2019, Illinois enacted a law requiring anyone that conducts more than one wholesaling deal a year to have a real estate license. So far, no other states require licensing, but this might be the beginning of new regulations.
Is it legal to wholesale real estate?
But what they don’t remember in their real estate training or research is the words For Another in the state’s real estate statute. (Maybe they missed that day of real estate class) Now what this means is if you’re not doing it for another, you’re doing it for yourself, and that makes it entirely legal for you to wholesale real estate.