BRRRR and MLS/Zillow List Prices

[Rajiv R.]

Newbie investor looking for my first BRRRR.

Is it generally true that once a property is on MLS, I will end up having to pay list price due to competition?

Of course excluding those properties that may clearly be listed well above where they should be. 

[Lawrence Potts]

Quote from @Rajiv R.:

Newbie investor looking for my first BRRRR.

Is it generally true that once a property is on MLS, I will end up having to pay list price due to competition?

Of course excluding those properties that may clearly be listed well above where they should be. 

Completely dependent on your market and the house itself! I have one under contract for some buyers that was competitive and we received seller credit, another property we negotiated significantly below list price and got it under contract. It depends on the home, the sellers, and the market. Generally it’ll be hard because the listing agent has set an expectation for the seller that’s hard to convince otherwise, but sometimes listing agents convince the sellers to go over or under true value for multitudes of reasons. It’s worth looking at the MLS but harder to negotiate (harder, not impossible)