Wholesaler Fined Nearly $1 Million Dollars for Unlicensed Activity | HoltonWiseTV Highlights
Channel: HoltonWiseTV
Date: 2023-03-15

Is wholesaling real estate illegal? Or, is wholesaling real estate legal? The answer is, it's complicated. Wholesaling real estate is perfectly legal. However, what most people call wholesaling these days is not really wholesaling. When most people hear someone talking about wholesaling houses they think of an activity that involves finding a motivated seller, putting that seller's property under contract, and then assigning that contract to a buyer while collecting a fee. This activity is not wholesaling real estate. This activity is called brokering real estate and it's illegal to broker real estate in the United States of America without being a licensed real estate agent or broker. Illegally brokering real estate can come with some serious consequences. The government has levied huge fines and penalties against people who practice real estate brokering and other license required activities without actually having a real estate license. In Ohio, people have been fined close to $1 million dollars for illegally performing activities without a real estate license. Tune in to HoltonWiseTV to learn more about wholesaling real estate while keeping yourself out of trouble. HoltonWiseTV is wholesaling made easy.


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