Texas Agent VS Wholesaling

[Niccolo Fazio]

Hello Everyone,

I have had this question spinning around in my head recently and have been unable to find a reliable source of information to derive an answer to it.

My question is: Wholesaling as a Real Estate Agent in Texas.

As many of you may know Texas has a heavily regulated Real Estate Market controlled by TREC (Texas Real Estate Commission). It was only recently that Texas passed a law in Sept of 2017 that seems to restrict Wholesaling activities or at least seeks to make them harder to complete. I do not believe this has stopped anyone truly but I do feel that the number of steps has increased, in Texas at least.

1. 1. Is anyone in Texas currently wholesaling and have you run into any legal issues? 
2. 2. Are there any Texas agents completing wholesale deals, and if so, how are you completing them?
3. 3. Again for Texas Agents - Are you doing the deals and simply disclosing you're also an agent? 
4.        3a.Are you using TREC forms or your own when pursuing deals? 
5. 4.Is there anything I am missing?

I obviously want to stay legally compliant and also want to know if it is more valuable to be a Wholesaler vs an Agent!

Looking forward to hearing everyone's thoughts.

[Bryant Brislin]

Definitely want to follow this thread. I'm wholesaling in south Texas, mostly in the Rio Grande Valley market. I've had people I've interviewed who say "I'm working on getting my license!" and I tell them that sometimes that's actually a hinderance if you want to be a wholesaler. But then on many of the podcasts, they say you should get licensed since they feel that each state, one-by-one, will be regulating wholesaling. Plus, some deals, where they want fair market value can be converted to listings. I'm a licensed agent in California, and have just started to attempt to wholesale here. In CA, it seems like if you make it crystal clear that you are a licensed agent, but you are acting as a principal and you are not representing the seller in any way, then you are okay.