What can be a consequence of not having a real estate license?

Legal penalties for practicing real estate without authorization are a significant consequence of not having a real estate license. In most jurisdictions, engaging in real estate activities such as buying, selling, renting, or managing properties without proper licensure is against the law. This can lead to serious repercussions, including fines, cessation of all real estate activities, and potential criminal charges. The licensing process ensures that individuals have the necessary knowledge and ethical standards to conduct transactions safely and fairly. Without this regulation, the integrity of the real estate market could be jeopardized, potentially harming consumers and reputable real estate professionals.

The other options suggest benefits or privileges that would typically be associated with having a real estate license, which do not apply to those operating without one. For instance, setting your own commission rates, enhancing your reputation, and gaining access to exclusive listings are all advantages that licensed professionals can enjoy, but these are not available to unlicensed individuals who face legal repercussions instead.