It's also totally unnecessary, since the AZ constitution allows RE licensees to draft all contracts (which can be confusing to people from East coast states where attorneys play a big role in RE transactions). 

The majority of real estate licensees who lose their license are due to mishandling of earnest money.  

Preface; - I do have my broker's licensee but I was a wholesaler first so I see both sides- but let me say -and ARV of $180K- purchase of $55K, and rehab of at least $50K okay but then this was a cash deal? 

Here in Missouri, all members of a real estate business entity require a license, while a licensee can be employed, for them to have an interest in a company all other owners must be licensees. 

(Imagine the seller suing you for contract fraud and specific performance.)If you leave behind a trail of purchase agreements you didn’t close on if you couldn’t assign it, then you’re probably acting as an agent.Now for the licensees:Being a licensee allows you to advertise a property you don’t own when you have the owner's written permission.

If you decide to use one, at least use a licensee instead of someone with nothing to lose.

When a licensee buys and sells real estate as a principal, regulations require the licensee to disclose to the opposite party that he or she has a real estate license.

If you choose to operate in Florida forget it unless you are a licensee.

Contact your local real estate investment management company or real estate licensee for assistance.

Contact your local real estate investment management company or real estate licensee for assistance.ABOUT THE AUTHOR: Eugene E.