Hello everyone, I came across a BP post that stated the Ohio Dept of Commerce was pursuing wholesales that were not licensed.
I'm a novice looking to start wholesaling in California. Has anyone experenced any issues wholesaling in California without a RE license?
No license needed to wholesale in CA. You're simply selling the contract, not the house. I've done many without a license and never had an issue
I suspect some one will sue Ohio for interference. Licensed activities are those where agency is created. Buying and selling something without creating an agency situation is perfectly legal. Just a bunch of cry baby agents thinking it will give them additional business. I suspect a flood of investors getting licenses will take away existing business from those agents. Just a side note, agency can be created by for example telling a buyer you will find him a property. Your not a principle at that point in time, and the buyer may be thinking of you as sort of his agent, called implied agency, doesn't matter what you think, only what the buyer thinks.
Some smart broker in Ohio should create a central investors realty and have them all licensed for a small fee per deal. And many agents will find a deal they think they should have had is in the hands of an investor/agent, Not a investor deal but a normal retail listing deal with the same guy they were trying to get rid of.
I know when I became licensed the agent I passed leads onto that I passed on as an investor when into a major funk and had to quit buying a new car every year along with many other things.
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