Does anyone have experience wholesaling properties while also being a Realtor (especially in NJ)? How should your letters for marketing differ from an unlicensed wholesaler?
Speaking as a licensed realtor and investor....it doesn't. Disclose that you are a realtor before signing the contract (using a realtor's release). But if you're marketing to them as an investor than you are not obligated to advertise that you are licensed until you are actually contracting to buy the house.
No need to change marketing unless you are looking to list the house!
To your first question - yes I do have experience as well. To add on to the great info given by @Lafi S. and @Hasan Hamdan , I would add that going from an Investor to a realtor on a deal with a seller shouldn't be a problem. But trying to suddenly buy a property you previously had listed may be an issue that you want to CYA while involved in.
Ibrahim Hughes, STEP Buys Houses LLC | http://www.StepBuysHouses.org
Thanks fellas for the great information. I have been waiting to hear back from the NJRE commission regarding this.
Should you be required to pay your broker on any deals that you wholesale for insurance purposes?
@Chris Harper No way man! Keep your hard earned dollars to yourself!
Would you guys suggest putting that you're an investor and licensed agent on business cards for your wholesaling marketing?
There's no reason to advertise that you are licensed unless you're looking to act as a realtor.
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