Arkansas is trying to make wholesaling illegal

[Chip Chronister]

They are trying to make wholesaling illegal and also in this bill it states that if the real estate commission finds you guilty they can decide the fine or penalty. Of course this bill has been written by a realtor that has been on a federal board of realtors. I am not bashing realtors but they act like if it deals with real estate only they can have anything to do with it. Any suggestions 

[Jay Hinrichs]

@Jacob White  well look at it this way.. if you troll around BP you will see post after post

like this

Hey I am brand new I have never done a deal so I am going to start out wholesaling.

this leads folks with their only education reading posts on BP which some are good some are bunk.

and they simply don't know what they are doing... and they foul up sellers... big time.

they deceive sellers big time... and then complaints are filed.. and the state takes action

virtually every state has the same laws on the books some enforce it others don't

If there was no need for a license in real estate to bring two parties together and then make a fee

then there would be no need for a real estate industry at all.... Just like China.. anyone can do any real estate there.

But as we know there Is a Robust real estate industry here that is licensed controlled etc.. with heavy emphasis on ethics'' and of course you have unethical realtors... you see that in the monthly bulletins with all the realtors getting reprimanded or losing their license.

To me if you want to wholesale BUY THE HOME close on it then resell it.. its that simple.. trying to act like your not a REal estate broker and hide behind the quasi arguments that are touted on this site.. to me is just circumventing the industry and the law.

there are brokers who specialize in cheap defunct properties as there is a lot of that inventory in all the hoods of America.