Wholesaling With Real Estate License in CA

[Jonathan Liu]

Hello BP, I am working toward starting up my wholesaling business. I have read numerous articles that encourage getting a real estate salesperson license to avoid the legal grey area of wholesaling. I have my license, but feel like it raises additional issues. For example, the license disclosure requirements apply to "real estate-related advertisements" so I am planning on putting my license number and broker name on my direct mail materials (assuming my broker will approve them!). Also, my broker requires me to have all my real estate transactions go through the broker with a minimum commission split. My broker also requires me to use C.A.R. forms (I am having an attorney draft a bare bones purchase agreement and assignment agreement I would prefer to use). Would love to hear how other realtor-wholesalers have navigated these issues. I would also greatly appreciate if anyone could recommend any brokers in CA that understand and are okay with their agents wholesaling? Most of the ones who I reached out to did not understand why I wouldn't just want to try to list any deals I find. Thank you in advance for any advice or insights! Jon Liu

[Katie L.]

@Jonathan Liu

Surprised no one commented on your post - I thought there would be a flurry of responses.

One of the local San Diego real estate meetups - Outback - is hosting a session next week all about wholesaling.  Not sure if you are willing to make the commute down south for the meeting, but you might be able to pay to view it online.  Not sure how it all works.  You can reach out to @Lynda Evans to get more information, but this may be helpful to you as the speaker is a wholesale "guru" (and former Chargers player) and there are a lot of wholesalers in the crowd who can give you their opinion as well.