Fines/Penalties for Brokering Without a License

[Alan Johnson]

One risk of wholesaling that is often mentioned is that it could be considered brokering real estate without a license.  Is anyone aware of what the fines and penalties for brokering without a license might actually be by state, and/or provide me with links that could address this question?

Note:

1. Please do not respond with opinions about the legality of wholesaling; there are many other threads that seem to endlessly discuss this.
2. Also, please do not attach a link to a particular state's 5,000+ page website that contains all of the real estate statutes.  I've already been there.... but I would appreciate a direct link that is targeted to this question that you may have picked up during, for example, your real estate license education and training.

Thanks for any assistance you can provide!

[James Wise]

Originally posted by @Account Closed:

Originally posted by @James Wise:

Originally posted by @Alan Johnson:

One risk of wholesaling that is often mentioned is that it could be considered brokering real estate without a license.  Is anyone aware of what the fines and penalties for brokering without a license might actually be by state, and/or provide me with links that could address this question?

Note:

1. Please do not respond with opinions about the legality of wholesaling; there are many other threads that seem to endlessly discuss this.
2. Also, please do not attach a link to a particular state's 5,000+ page website that contains all of the real estate statutes.  I've already been there.... but I would appreciate a direct link that is targeted to this question that you may have picked up during, for example, your real estate license education and training.

Thanks for any assistance you can provide!

 Here are some fine summaries for those engaging in unlicensed activity in Ohio. Fines as high as $1.5 Million.

(Click here or on the photo to link to the Ohio Division of Real Estate's full report)

@James Wise

Those were from 7 years ago. Ancient history. Do you have anything more current? 

It used to be illegal to drive a car down the street in Ohio (1903) now it's illegal to ride a horse down the street. 

If it isn't being enforced in today's climate, what's the big deal?

Let's be clear: There is a big difference between 

1) Representing that you own a property while not having ownership or equitable interest in it (which is an unlawful & punishable act) (This is very Bad)

2) Representing that you have a validly signed contract and you are assigning the contract, which is legal. If indeed you do have a validly signed contract. (This is Good)

People confuse the two and I agree that trying to sell something you don't own or have equitable interest in, will cause a world of hurt to the smuck who gets involved in wholesaling and does the first example.

 The ole' it's illegal to ride a horse down the street argument. That's what you're going with huh?