If you are attempting to operate as an unlicensed broker on million plus dollar homes that you do not have a direct ownership stake in (no, a sales contract is not a direct ownership stake), then you likely have problems that may include but also extend beyond those mentioned above.

Because, heck, the whole damn thing was built by someone unlicensed.

Unlicensed broker puts a house under contract.2.

many of these people are unlicensed and breaking laws to broker real estate without a license be careful who you trust if you are dealing with cheats don't count on being treated honestly or fairly

I bet if their attorney knew EXACTLY what was done, they could possibly go after the "buyer"...or rather the unlicensed broker playing agent. 

By doing wrong they are, literally, "acting as an unlicensed agent / broker".They're also doing something arguably illegal: they have the right to sell their position in the contract.

Ocwen agreed to pay $900,000 to the state of Washington after an investigation conducted by the state found that Ocwen used unlicensed companies in India and the Philippines to service mortgage loans.""

Even with a valid and reliable contractor team if you do not have  10 to 15% contingency fund built in to the profit model on purchase price you could get into trouble.If you go cheap using the unlicensed contractors then stop work orders, extra time, and paying for redoing with the right team can be way more expensive in the long run.Margins tend to be smaller.

It gives unlicensed investors an opportunity to pull comps off the MLS as well as providing them a way to do their own due diligence.

Do they know you are unlicensed?