Yes, I know the mechanics are different, but that's mostly to deal with the fact its unlicensed brokering.

I do agree to a point, just wanted to point out while you're correct imo, that a wholesaler is in a sense, and unlicensed broker, a good one is so much more.

Therefore, I would think that's kind of iffy in the eyes of the commission because essentially signing something like that would be really close to being an unlicensed agent.So I think I'll stick with my standard purchase and sale contracts.

Unlicensed practice of real estate has more to do with finding a buyer for a seller for a fee.

One complaint and things will get ugly.Or you could come to Maine where property managers, home inspectors and general contractors are all not required to be licensed.Thanks for the response, Charlie.My question is: what exactly is illegal in terms of being unlicensed?

This may fall under unlicensed brokering of real estate since you would be negotiating the terms of a real estate contract for another and you are an interested third party receiving compensation from the transaction.  

There are licensed and unlicensed activities so you need to make sure you are in compliance.Build up the money as mentioned.

The latest BP Podcast 106 with Mike Sumsky actually talks about that very same idea.As for your question about @Joseph Ball 's comment, it is generally illegal for a licensed agent to share a commision or pay a fee for a referral to an unlicensed individual (i.e. bird dog).  

If it doesn't sell, have them reconsider their price and try again at a more realistic numberThis is starting to border on representing the seller as an (unlicensed) agent.

Below this are skilled but unlicensed folks.