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Updated over 1 year ago,
Land Flipping Broker's License?
I discovered a blog that mentioned the difference between brokering and flipping. From my understanding brokering is the act of promoting and selling something I don't own and getting a portion of the profit. I believe this would be a brokered deal and would require a broker's license.
Land flipping would require that I purchase the land and then find a buyer.
My question is this. Am I able to promote/market land that I have under contract?
For reference, my confusion stems from a blog post about buying land from the county. In the example, the county held a 30-day contract to decide if I wanted to purchase the land. The flipping tactic involved finding a buyer in the 30 days, purchasing the land, and then selling it to the buyer. Assuming you find a buyer you would move forward with the purchase of the land and then sell it to the buyer. Otherwise, you get a full refund of your earnest money from the county. This situation was described as a brokered deal and would require a license.