Can someone help me understand this; excerpt from the Texas Real Estate License Act(TRELA) -
Sec. 1101.002. DEFINITIONS. In this
(A) means a person who, in exchange for a
commission or other valuable consideration or
with the expectation of receiving a commission
or other valuable consideration, performs for
another person one of the following acts:
(i) sells, exchanges, purchases, or leases
(ii) offers to sell, exchange, purchase, or
lease real estate;
(iii) negotiates or attempts to negotiate the
listing, sale, exchange, purchase, or lease of real
Does this mean Wholesaling and other dealings are considered illegal without a license?
@Dan Roma Good question Dan, and I really want to emphasize this - good for you for doing your diligence.
I'd wait for some other reputable TX attorneys or wholesalers to chime in here, but I'd be getting a license if I were you. Wholesaling without a license is indeed considered illegal in various states, and that language you posted is tough to exempt wholesalers from, in my opinion.