Broker Commercial Real Estate Without License In Ohio
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In Ohio, real estate wholesaling doesn't require a license if the wholesaler is acting as the principal buyer—meaning they put the property under contract with the intention to resell it. However, licensing may be required if the wholesaler's activities resemble those of a real estate agent, such as the following.
To answer the question of can a residential realtor sell commercial property, know that the answer is, "Yes." Various states have different licensure requirements, but they typically include taking a certain number of hours of an approved course, passing an exam, and working with a licensed firm.
In Ohio, real estate wholesaling doesn't require a license if the wholesaler is acting as the principal buyer—meaning they put the property under contract with the intention to resell it. However, licensing may be required if the wholesaler's activities resemble those of a real estate agent, such as the following.
While an LLC isn't legally required for wholesale real estate, nor does it replace the need for due diligence and a strong understanding of real estate law, its potential benefits make it a worthy consideration for serious real estate investors.
Real estate agents are licensed to help people buy, sell, and rent real estate and must work for a sponsoring broker or brokerage firm. Brokers have additional training and licensing requirements and can work independently or hire other real estate agents to work for them.
You are required to obtain a real estate broker's license or act under a broker with a license in Ohio if your wholesaling practice constitutes actions as described in the above Ohio Revised Code Section 4735.01(A).
Regulating Real Estate Professionals. The Division of Real Estate and Professional Licensing is part of the Ohio Department of Commerce. This division is responsible for licensing Ohio's real estate brokers, salespeople, appraisers and foreign real estate dealers and salespeople.