https://fusion.inquirer.com/ne...I found this article that states in a few months the traditional "wholesaler" will have to get some sort of wholesaling licensee that will apparently add regulation to the profession.

Hi JamesThat is a valid question.It depends on your states real estate laws, but in Florida for example, no fee can be paid by a licensee to any member of the public that is not license.

An internet firm accepted an investor/realtor licensee but shortly after he arrived, required that the broker be on all his contracts - and split the commission with him.

Colorado Springs has about 4,000 licensed real estate agents and 94% of first-year licensees will not renew their license (per the local MLS).As an example, I was recently invited to partner on an off-market wholesale deal that I had to decline because being a broker was a complicating factor that would unnecessarily hinder the deal.

As a real estate licensee, all of your real estate activities are subject to the oversite of your broker.

The agreement shall include a licensee's duties and responsibilities specified in section 339.740 and the terms of compensation."

Dept. of Real Estate, you are not a real estate licensee, unless I looked it up incorrectly.

@Ned CareyA licensee can work assigning contracts and market properties they do now own just as they may take listings and market properties they do not own.

So simply getting a licensee to negotiate the loan may not always be compliant if they do not conduct the work properly under the licensed company.In California:As a salesperson, once your employment with a properly licensed MLO real estate broker is terminated, your MLO status will be changed from active to inactive and you will have to obtain a MLO license from the DBO in order to continue to work for a CRMLA or CFLL company.

Hello BP community! I've been a member since February and I've been reading through the wealth of information here at BP as well as listening to BP podcasts as much as I can. I just passed my state exam and waiting fo...