Unlicensed wholesalers and real estate investors frequently operate in the gray.

If you don't have a signed contract then you're not really wholesaling you're unlicensed brokering which is a no no.

Would you pay a different price for PM clients coming over from an unlicensed property manager?

Even if you had the right insurance on the house the claim could of still been denied for using an unlicensed, uninsured handyman.

Agents can't share commissions with or pay lead fees to anyone that is unlicensed.

Hi guys,It's ray again here with a bird dogging question.I am an unlicensed wholesaler here in Tx.

@Marcia Maynard  Note that I used the past tense - there may have been a complaint to the city about an unlicensed daycare business.

And before RE became so regulated it was Caveat Emptor.So what we have in the industry is unlicensed buyers looking to buy from Sellers who are not represented..

Us RE brokers who study pay our E and O  and other things keep up with the rules of the road.. its offensive to me anyway that this activity by unlicensed and undercapitalized to the point of no capital folks get in and screw these deals up.

People understand this and feel comfortable.Another thing that I explain to unlicensed people that I'm dealing with is that in Michigan, you must be licensed to do more than five real estate deals per year or to spend more than 15 hours per week in real estate activities.