I ran Into someone on Facebook after mentioning a house I wanted to potentially wholesale and someone said “I hope you are a licensed agent”. Is it not legal to wholesale in Indiana anymore?
I presume the person asking the question as a real estate agent, correct? That is usually the person that does. If you act as a broker, taking a commission on a sale, you need a license.
On the other hand, when done correctly, being a wholesaler is just buying low and selling high. Sometimes what you are selling is not property but the contract. There are very few restrictions on that. But, many realtors feel that impinges on their space.
I presume the person asking the question as a real estate agent, correct? That is usually the person that does. If you act as a broker, taking a commission on a sale, you need a license.
On the other hand, when done correctly, being a wholesaler is just buying low and selling high. Sometimes what you are selling is not property but the contract. There are very few restrictions on that. But, many realtors feel that impinges on their space.
@Devon Dunn I really want to guess who... probably the same gut that told me that but im closing on yet another property tomorrow that I sold on assignment. Keep up the good work. Ignore the haters.
Wholesaling remains completely legal in Indiana without a real estate license, as long as you are marketing and assigning your own equitable interest under a valid purchase contract rather than acting as a broker. However, people on public forums often confuse standard brokerage rules with wholesaling, or they may be reacting to stricter state regulations like House Enrolled Act 1068, which mandates that unlicensed wholesalers include specific disclosures (such as stating the solicitation is not from a licensed professional and providing legal names) on seller marketing to avoid a two-day right of rescission. As long as you operate transparently as a principal buyer utilizing standard contract assignments and adhere to state solicitation disclosure laws, you do not need an agent's license to do deals in Indiana.