Hello, Just a new kid with some questions 🙋‍♂️
Hello, I’m a 21 year old getting into the world of wholesaling but I was wondering if there was a difference between a real estate license and a brokers license. I believe I need the brokers license for wholesaling but I just want to be sure. Thanks.
Most Popular Reply
There is a big difference between a realtor and broker's license. A broker's license requires that the applicant has been a realtor for 2 or more years and then it comes with increased education requirements.
Wholesaling in many states - including mine - is considered the unlicensed practice of real estate and it comes with a whole lot of bad: "Unlicensed practice of real estate is a third-degree felony punishable in criminal court, for each violation, by up to five years in prison and $5,000 in fines."
Be sure you check your state law on what is permissable without a license. And, I recommend that learn more about the practice of real estate before you do anything...what you don't know will be extremely painful.
Best...