Wholesaling in Columbus
According to The Ohio Revised Code 4735.051 in order for someone to be investigated for practicing without a real estate license, a written complaint must be sent in. See the below link. I personally will never take time out of my day to do this. There are 8,500 licensed agents in Columbus and probably 4x that amount in wholesalers operating without a license. If you file a complaint against 1, 4 more pop up. Also, the guy from the Division I just spoke to did not even know of the meeting. He said that he was staring at 9 cases right now. He needs to interview all parties and he said most of the time the wholesaler does not respond. I am skeptical that they are going to be able to fix this problem by hiring two more people.
I see a bunch of people still posting the address and pictures of their property. Another Realtor told me that wholesalers cannot show their customers any pictures or tell the address until they assume the contract. That should kill wholesaling right there if that was able to be enforced.
I am not trying to get anyone in trouble, rather understand what is going on.
I feel silly even trying to wrap my head around this new change to wholesaling. I just wasted an hour of my life that I could have spent finding deals.
://www.com.ohio.gov/documents/real_COM3688REComplaintForm.pdf
