Real Estate License

5 Replies

I was told in the state of Arizona you can not wholesale property without a Real Estate License

You can legally sell your own property. If you have a contract, you are selling your right to that contract.

Lots of threads on this site about the legality of wholesaling.

The issue many (including myself) take with wholesing is the act of bringing  a buyer and seller together in hopes of earning money is a brokerage activity.

Wholesaling no matter how you slice it or how you dissect the wording of the laws. ("For another" is a common term in the laws that's often dissected) is making money by bringing a buyer and seller together to make a deal.

That's correct @James Wise

The seller of the contract, being the wholesaler, and the buyer.

If you have exchanged signatures and you have your earnest money down, you legally own that contract to the property. That's what you're selling as a wholesaler.

My issue is with the so called wholesalers that do not have legal right to the property, trying to make a quick buck and offering a property to me when I could just as easily claim it myself with a legitimate contract. Usually they go in with no intention or ability to actually close on the deal themselves.

I get offered these regularly. Happens to me every week, and the last time it did, the idiot REALTOR that was trying to do it was on a property that WAS STILL ON THE MLS and the listing agent said there were no offers on it. The guy displayed his entire mailing list in the CC of the email instead of the BCC. You better believe I called him out on it on a reply all. He's a BP member too.

Thanks for all the advice as Im new to Real Estate I appreciate all the help offered.  I have enrolled in a upcoming Real Estate class, since I have noticed several agents do buy and sell property,   next question   Can an agent buy, sell or wholesale without a broker?  Or should I take the agent, broker class? 

Originally posted by @Madeline Beck :

Thanks for all the advice as Im new to Real Estate I appreciate all the help offered.  I have enrolled in a upcoming Real Estate class, since I have noticed several agents do buy and sell property,   next question   Can an agent buy, sell or wholesale without a broker?  Or should I take the agent, broker class? 

 My understanding is you cannot wholesale or sell without a broker as an agent. You also cannot take the broker class unless you've been an agent for at least 2 years. Our in house agent is becoming a broker right now so if you're training to become a licenced Arizona agent that wishes to sign up with an investment friendly broker, feel free to send me a PM. 

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