Why does people get real estate license if you could just wholesale houses with assignment of contract?
Most of the time its to have mls access and to have the ability to do the legwork yourself instead of needing a agent to do it.
Realtors sell houses. Wholesalers are selling the deal they found. It just happens to involve a house.
When a wholesaler has a house under contract, he is not selling the house because he does not own it, he is only selling his INTEREST in the deal. When you find a buyer, you are selling your INTEREST in the contract. The original seller is getting the money for the house. The realtor makes their commission off the selling price and the wholesaler gets paid for finding the deal.
Just make sure that all the parties involved are aware you are making a profit by putting together this deal.
They’ve pretty much answered the question but I’ll tell you that Wholesalers are wanting to get a license in order to have access to MLS.
You can make more money Wholesaling if you become really driven but it is a bit of a challenge everytime because you have to structure the deal yourself.
I believe that structuring the deal is the pudding in the cake. My issue is explaining and getting the agent to understand and perform? Agents here are always reluctant and uncooperative.
A lot of people get their Real Estate License to have access to some of the resources that Realtors have, such as the Multiple Listing Service (MLS). :smile
Having a real estate license is an extra tool in your toolbox… You can do wholesaling and on the side list properties and sell for other people… Why do people wholesale when they can fix and flip? or keep for cashflow? … everyone has different perspectives and the one you choose is neither correct nor incorrect…