• By Rodney L, June 15, 2010 @ 9:09 pm A realtor can place your property on the multiple listing service. This is a HUGE advantage, as almost every realtor has access and checks it daily. I would go with a realtor (and I’m not one but my wife is). The reason she got into it was so we could get the deals at the same time as everyone else, and have the marketing power to move them quickly.

• By rentahandyman, June 19, 2010 @ 7:15 am There are a lot of benefits to using a real estate agent including initmate knowledge of the laws, rules and regulations involved with all types of real estate transactions. However, agents can be greedy and not necessarily represent their clients as well as they should, seeking only to close the deal as quickly as possible so they can get a check. Research and interview potential agents and decide who is right for you. Selling on your own can be a difficult process if you don’t fully understand it all. Listing a home on the MLS is easy and for a few hundred dollars anyone can do it. But be careful and learn as much as you can about the entire transaction if you don’t want to use an agent. Good Luck!

• By lovemcss, June 22, 2010 @ 4:11 pm If you have the time and insight, doing it on your own is a much wiser and profitable way to go about it. By flying solo, you retain the 6-7% commission that a realtor will charge/share. More important than whether or not you hire a realtor, I suggest you find a stellar real-estate tax attorney. Particularly since this is your first house to flip. For example, there are going to be tax reprecussions to consider: As far as the IRS is concerned, buying and selling real estate as an investment strategy and doing it as a business are two very different things. If you buy a house, fix it up and resell it while you’re working another full-time job that provides the bulk of your income, that’s an investment and the proceeds will be taxed as short-term capital gains (if you own it for a year or less) or long-term capital gains (if you own it for more than a year). A short-term capital gain is taxed at the same rate as your ordinary income. Plus, you want to take advantage of IRS section 1031 like-kind exchanges, which can help with taxes when you have a property that sells for substantially more than you paid for it. Only property that’s held as an investment qualifies for this tax break; while the tax code doesn’t specify a time frame, the rule of thumb supported by case law is that you need to hold it for at least a year to qualify. i think since you bought it earlier this year and plan on holding it until mid next-year, you will qualify, but again, this why you need a real estate tax attorney. There are a number of ways to flip properties – the most difficult part is finding a suitable property which you have already done, the rest of the transaction consists of negotiating the deal (no different from any other transaction), finding a new buyer, then waiting until closing when the buyer’s closing agent takes care of everything else. Be extremely careful about the tax component – a realtor cannot help you with this.

• By Price is what you pay for value., June 23, 2010 @ 9:42 am Getting an agent will help you to sell it faster, which you probably need it as housing market continues to slump. I would consider forfeiting your deposit. Of course, check local real estate market first. These two describe current market. If you still can negotiate price (my friends’ builder broke contract, they can renegotiate the price), then this article is helpful. Good luck!

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