What can't I do? Licensed realtor

[Brandon Phillips]

It's been a good couple of months as a new realtor. Working with 3 buyers currently and my first listing closes this week! I want to take on wholesaling, Brrrr's, fix and flips etc. However, I'm learning that because I am licensed I am held at a very high standard. My question is, what kinds of limitations, or legal issues do I need to be wary of, during activities like wholesaling or purchasing my own off-market deals? Is my brokerage entitled to a commission with every deal I purchase or assign? When writing contracts for my own personal off-market deals am I not allowed to use mls forms/addednums/contingencies?

[Jay Hinrichs]

U should be talking to your managing broker about this not the internet LOL..  

but since you asked.

I have been doing sales and buying BRRR lending all those things for 40 plus years.

Now keep in mind I am my own broker i dont answer to anyone but the state. 

when buying distressed assets I make it clear i am not representing the seller and am buying for Profit or loss  put that term right on the contract   IE profit or loss..  disclose I am a broker which needs to happen by law.

Once i own it I do whatever I want with it just like any other investor.. I can use MLS forms since i am a broker etc.

Where your going to run into people that say you have a higher standard .. well of course you do.

where licensed and unlicensed folks run into trouble is telling someone their 300k house as is is only worth 100k.. 

And or if you are licensed assinging contracts as a business model will be frowned upon.. I know the Oregon Agency will shut you down regardless of license or not.