Updated over 2 years ago on . Most recent reply
Realtors allowed to wholesale?
Hey all, just a quick question: Can a licensed realtor in one state, virtual wholesale deals in another state?
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Don Konipol
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Don Konipol
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The question is more complicated than it seems…
if the laws of the state the property is located in do not require licensing for wholesaling, in other words don’t consider wholesaling to be brokering than anyone, including of course a licensee can “wholesale” a property.
If the state in question considers wholesaling to require a brokers license, then the licensee of another state can only legally wholesale if the two states share reciprocal licensee privileges (majority of states do not with any other states, some states do with neighboring states).
”Virtual” has nothing to do with it. The location of the property is the determinant of applicable state law.
if the laws of the state the property is located in do not require licensing for wholesaling, in other words don’t consider wholesaling to be brokering than anyone, including of course a licensee can “wholesale” a property.
If the state in question considers wholesaling to require a brokers license, then the licensee of another state can only legally wholesale if the two states share reciprocal licensee privileges (majority of states do not with any other states, some states do with neighboring states).
”Virtual” has nothing to do with it. The location of the property is the determinant of applicable state law.
- Don Konipol
Private Mortgage Financing Partners, LLC