Step 2: Go to the MLS.
The Multiple Listing Service (MLS) is the place to go for accurate information on properties for sale and properties sold when buying or selling a house.
According to Gallagher, the MLS status data is “accurate and verifiable,” unlike other online listing sites. “Other sites aren’t 100 percent reliable all of the time. You must constantly return to the MLS.”
To access the MLS, you must be a real estate agent and a member of a national, state, and local real estate association.
If you are not an agent, you will have to pay one to list your property on the service, which can cost up to $1,000. The costs pile up when you flip multiple properties and eat into your profit.
Step 3: Obtain brokerage assistance
Real estate brokers can offer novice house flips essential advice and help. “Say to the broker, ‘Please assist me.'” Please guide me.
‘Guide me,’ says Gallagher. “It’s a fantastic method to learn the industry and obtain help.”
Furthermore, brokerages provide a swarm of agents that can introduce purchasers.
“Exposure is critical,” Gallagher explains.
“Many brokers suggest, ‘First, let’s try to sell it in the firm.'” This could imply permitting agents to bring clients during a “coming soon” time before the property is formally listed for sale. It may also imply that you will receive advance information of homes coming to market, which may be your next flip.