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Updated over 5 years ago, 06/18/2019
Is Wholesaling Illegal in Maryland?
I am new to real estate and have a question regarding wholesaling. Is it legal in Maryland? I cannot find a legal basis for it in light of the following:
"Except as otherwise provided in this title, a person may not provide, attempt to provide, or offer to provide real estate brokerage services unless licensed by the Commission as a real estate broker." MD Code, Business Occupations & Professions, § 17-601.
“Provide real estate brokerage services means to engage in any of the following activities: (1) for consideration, providing any of the following services for another person: (i) selling, buying, exchanging, or leasing any real estate; or (ii) collecting rent for the use of any real estate; (2) for consideration, assisting another person to locate or obtain for purchase or lease any residential real estate; (3) engaging regularly in a business of dealing in real estate or leases or options on real estate; (4) engaging in a business the primary purpose of which is promoting the sale of real estate through a listing in a publication issued primarily for the promotion of real estate sales; (5) engaging in a business that subdivides land that is located in any state and sells the divided lots; or (6) for consideration, serving as a consultant regarding any activity set forth in items (1) through (5) of this subsection." MD Code, Business Occupations & Professions, § 17-101.
It sounds pretty cut-and-dry to me. . . . Am I missing something?