Legal Aspect of Wholesaling Real Estate

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I've been posting flyers around my college campus in search of a few bird dogs. This past week, I've had a few of the real estate students contact me to tell me that what I am trying to do is illegal. They have all said that you have to be a licensed agent to wholesale real estate. When I hear this, it's in one ear and out the other. But I just want to know how accurate that statement is.

You need to check with your state and or real estate attorney in your state. Several states have passed laws defining wholesaling (which is the assignment of a contract) brokering and are requiring real estate licenses. Illinois is the only state I am aware of but I'm sure there are more.