Posted by Ed Copp on October 04, 2002 at 18:27:38:
I am terribly surprised that you do not know the credest of crude basics. How did you pass your test?
Now that vented…
Anybody can buy anything that is for sale, that is why we have laws about unfair restraint of trade, and descrimination. If you are a Realtor, yes you can buy. If the property is advertised on the MLS, yes you can still buy, and you can also flip your position.
Now you will need to comply with the laws in your state concerning disclosure.
How to reduce the price, simply make a low offer.
Your concerns about a conflict of interest are eliminated when you disclose, properly the involvement that you have in the property.
Did you know that the MLS, which is really a big ad sheet; can be changed by simply cancelling the present ad and writing a new one. That is how you get a new price on the MLS. So buy low, sell high, and remember to write a new ad for the MLS.
Realtors Buying and Flipping MLS Listings - Posted by Deborah
Posted by Deborah on October 03, 2002 at 09:34:57:
Just wanted to ask if anyone knows how a realtor can buy a Multiple Listing and flip it. The price is already setup on the mls printouts.How do you reduce the price enough to make a profit on flipping? I guess I’m asking about how to structure deals for these types of properties. I am a real estate agent working with other investors as well, who wants to do these types of deals, but I don’t have the knowledge on what to in this situation without presenting a conflict of interest.Would this be illegal if I put the contract under my name and then assign it to the investor? Any help on this subject would be greatly appreciated and is much needed.
Thanks
Deborah
Re: Realtors Buying and Flipping MLS Listings - Posted by Lily Henderson
Posted by Lily Henderson on September 21, 2003 at 21:02:38:
Hi Ed,
Good points. But in most cases, anytime selling or buying through MLS would entitle the agent’s broker/agency a cut of the commission as well, does it not?
Re: Realtors Buying and Flipping MLS Listings - Posted by David Carter
Posted by David Carter on October 10, 2002 at 21:50:21:
I think, I understand your question. If you buy it at a low price and then list it at a higher price, the good agent can learn what you paid for it. That is OK, let them learn from you. You can do it in the form of a company doing the buying, but you need to disclose that you are a licensed agent and have an interest in the company. But the new buyer is a separate transaction. You could do a lease purchase and close when the information is not longer in the MLS.
Re: Realtors Buying and Flipping MLS Listings - Posted by David Carter
Posted by David Carter on October 10, 2002 at 21:50:02:
I think I understand your question. If you buy it at a low price and then list it at a higher price, the good agent can learn what you paid for it. That is OK, let them learn from you. You can do it in the form of a company doing the buying, but you need to disclose that you are a licensed agent and have an interest in the company. But the new buyer is a separate transaction. You could do a lease purchase and close when the information is not longer in the MLS.