Wholesaling in MD

2 Replies

Do I need to get a broker's license in order to own my own wholesaling business in MD?  If so, what would be the best strategy for hitting the 3-years-experience requirement outlined here: http://mgaleg.maryland.gov/webmga/frmStatutesText.aspx?article=gbo§ion=17-305&ext=html&session=2015RS&tab=subject5

Greetings and welcome to BP!

Actually you need to hold a real estate salesperson's license for 3 years before you can become a broker. So the 1st step is getting your re salesperson license. You do not need a license to wholesale. As a licensee you are held to a higher standard thus wholesaling can become tricky if you are not careful and do not understand agency laws. You will have to find a 'wholesaling friendly' brokerage to affiliate with if you do become licensed. Some brokers do not understand it and others are just straight up afraid of the real estate commission to practice anything slightly creative.

Hope this helps!

Sincerely,

E. Harris