Obtaining real estate license to wholesale in Miami, Florida

[Witney Alcenat]

Hey everyone I’ve been reading more about Wholesaling and real estate license and I see that in some posts they said it’s legal to wholesale in Florida without an license and other posts you need a license to wholesale in Florida. But the thing is, I’ve been seeing people who done it without the license. Any advice will be helpful . Thanks.

[John Thedford]

Some flippers call themselves "wholesalers" but they OWN the property. If you are referring to assignments no that is NOT legal unless you are licensed. The reason is that you are bringing a buyer...just as agents do. Watch out for people that tell you otherwise because if you get in trouble they aren't going to defend you. One other thing I just learned from the state last week: if you are doing assignments and the assignment fees are not going through your broker first you are brokering without a license. It is basically the same as getting a listing or selling a listed property, when it sells the commission goes through your broker to the agent. Assigning IS bringing a buyer in many instances. A contract can be assigned for various reasons where an end buyer is not brought in such as assigning to a corporation you own, taking on partners and assigning it into a JV arrangement, etc. It is when assignments are done for the purpose of making fees that it can be problematic and requires a license. The relevant statues are 475.42 and 475.43.