I am not a legal beagle, I tend to agree from a de facto standpoint with this point on another forum:"Legally, when the public begins to believe the zestimate, it becomes an unlicensed appraisal & therefore illegal."

If anything, licensees, realtors in particular, are held to a higher ethical standard than unlicensed individuals.I did a lot of this same research a few years ago when I got my license.

This is called unlicensed activities.

Some states/municipalities allow unlicensed assistants to do more than others, so be sure you know what you can and can't do in your jurisdiction.

The unlicensed assistant may exercise no discretion over the language used to complete the blanks on a rental agreement, but may only write words dictated by the property owner, designated broker, or managing broker.Provide information about rental units, leases, lease applications, security deposits, and rental amounts to prospective tenants.Assist in property management functions by carrying out administrative, clerical, financial, or maintenance tasks.Unlicensed assistants may NOT…Advertise that they are engaged in the property management business.Hold trust funds.

Couple reasons:1) The board could go after for brokering possibly depending on your wording (You can't give referral fees on real estate transactions to unlicensed people so it may come back to bite you)2) A few people will put your phone number on those spam sites.

Most unlicensed brokers I have seen greatly inflate numbers to make the deal sound much better than it truthfully is. 

They regulate licensed and unlicensed activities.

You have to be unlicensed assistant to get the access to MLS.If your agent got you access to MLS and lied about the nature of your relationship, he/she can lose the license.

There are obvious reasons for NOT using unlicensed brokers.