Wholesaling With Real Estate License in CA

[Jonathan Liu]

Hello BP, I am working toward starting up my wholesaling business. I have read numerous articles that encourage getting a real estate salesperson license to avoid the legal grey area of wholesaling. I have my license, but feel like it raises additional issues. For example, the license disclosure requirements apply to "real estate-related advertisements" so I am planning on putting my license number and broker name on my direct mail materials (assuming my broker will approve them!). Also, my broker requires me to have all my real estate transactions go through the broker with a minimum commission split. My broker also requires me to use C.A.R. forms (I am having an attorney draft a bare bones purchase agreement and assignment agreement I would prefer to use). Would love to hear how other realtor-wholesalers have navigated these issues. I would also greatly appreciate if anyone could recommend any brokers in CA that understand and are okay with their agents wholesaling? Most of the ones who I reached out to did not understand why I wouldn't just want to try to list any deals I find. Thank you in advance for any advice or insights! Jon Liu