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Updated 10 months ago on . Most recent reply

User Stats

3
Posts
1
Votes
Andrii Sazhnev
  • New to Real Estate
1
Votes |
3
Posts

Can you wholesale in IL without a brokers license?

Andrii Sazhnev
  • New to Real Estate
Posted

Hey, I am interested in starting wholesaling in IL and found out that there is a law "preventing" wholesalers from doing business without a broker's license. Now I did some research and everyone has their  explanations for what the law means. Some say the wholesaler needs a broker's license to do wholesale more than 1 deal every 12 months, and there is no way around it, and others say you can work with a licensed broker, and have them represent you, the wholesaler, in every deal you do. Please shed some light on this topic, especially if you currently are wholesaling in Illinois. Any help would be much appreciated!

Most Popular Reply

User Stats

24
Posts
3
Votes
Dan Delcorio
  • Flipper/Rehabber
  • Richardson, TX
3
Votes |
24
Posts
Dan Delcorio
  • Flipper/Rehabber
  • Richardson, TX
Replied
@Jonathan Klemm Can you refer any agents that will/can handle wholesale deals? 
Partner and I are looking to do fix and flip deals through direct to seller. Assuming we wont be able to flip every deal looking to connect with an agent who would be open to wholesaling some deals. 

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