Rental Property Investor · Richmond, VA · Member since 2018 · 10 posts · 0 votes
I just filed for my LLC via online and I took that paperwork to The Commission of Revenue to receive my business license to conduct real estate investing strategies such as wholesaling, Rehab, and Fix n Flip in the state of VIRGINIA.
The office said I needed to get my brokerage license prior to receiving my business license.
My question is within the state of VIRGINIA do I need to get my brokerage license or agent license to conduct the type of real estate investing I’m seeking?
Thanks in advance to the BiggerPockets community!
No you shouldn't. I don't know if there are any specific laws/rules in Richmond, but as far as Virginia you shouldn't need to. If you are going to list and sell for others, work with buyers to purchase property, or manage for others you will need a license. If you are the buyer or the seller yourself then you shouldn't need one.
The confusion is probably in explaining to the business license people about wholesaling. They are probably thinking that this is you representing the seller or buyer. The purpose behind real estate licensing is to protect the public. I think if you explain it in more detail and let them know that you will not be representing anyone but yourself, then you should be fine.
Some investors do like to get licensed so they have access to mls, and are able to show themselves properties. It can be negative also because if you are licensed you have an obligation to protect the public and always disclose so it limits what you can do.