What is this called and do I have to have real estate license?

[Romir Talley]

When you go to a property owner to make a deal? For the house contract rights then I go out to find a buyer the property. And sell the contract to the buyer for a profit? What is this title called and do I need a real estate license for it? Please help me and Future thank you for the advice.

[Jon Holdman]

What you're describing is wholesaling or brokering.  Really, they're the same thing.  You find a seller, find a buyer, put them together, collect a fee.

The difference is that brokering property requires a license in every state.  Wholesalers try to avoid being "unlicensed brokers" by becoming a principal in the transaction.  They might get the property under contract, then assign the contract for a fee.  Or, buy an option on the property, then sell the option.  Or do a double closing where they buy it, then immediately re-sell it.  Or various other options.  

As far as the legality, that seems to vary from state to state.  In theory, because you're a principal in the transaction, rather than just facilitating a transaction involving other people, you're not brokering.  But judges and RE licensing boards sometimes take the view that you are in fact acting as a broker.