Seeking advice for making offers on mls listings

Sacramento, California
Wholesaling
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Seeking advice for making offers on mls listings

Khyree Randall
Member since 2025 · 15 posts · 8 votes

I was talking to my brother on the phone and would like to get others educated opinions on the matter. I live in Sacramento, and have noticed that people are offering either equal or above asking price even for homes that sometimes need 80-100k in repairs and I can't see how they would even make a profit doing that. Am I doing something wrong when it comes to determining the current value or even the arv of a home? This has been a reoccurring situation over and over again and it’s getting me frustrated and I’m starting to question what exactly am I doing wrong.

Thanks in advance.

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Noah Laker
Real Estate Broker · Sacramento, CA · Member since 2021 · 517 posts · 408 votes
1y

Hey Khyree, is your intention to "wholesale" or are you trying to buy a fixer? What's the end goal?

Every property is different. Typically by the time it reaches the MLS, it is listed at retail value, and you're not going to get a screaming deal, although there are those diamonds in the rough and my team frequently does "fixer" deals off the MLS. It's simply a numbers game.

Working with a great broker can also help as they will know how best to represent your interests and play the game. You will never know the right number until you have a chance to inspect and get contractor bids, which will typically happen after an offer is accepted. 

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  • Ranjit Sandhu
    Real Estate Broker · Rocklin, CA · Member since 2020 · 221 posts · 82 votes
    1y

    @Khyree Randall If the house needs work for $80k-$100k then it shouldn't be priced accordingly. Your realtor should help you by doing the comps for those homes. And I'm talking about MLS listings not off market wholesaling.

    0Reply
    • Khyree Randall
      OP
      Member since 2025 · 15 posts · 8 votes
      1y

      @Ranjit Sandhu not here. And people will still offer above the asking price. I'm just trying to figure out why 

      0Reply
  • Noah Laker
    Real Estate Broker · Sacramento, CA · Member since 2021 · 517 posts · 408 votes
    1y

    Hey Khyree, is your intention to "wholesale" or are you trying to buy a fixer? What's the end goal?

    Every property is different. Typically by the time it reaches the MLS, it is listed at retail value, and you're not going to get a screaming deal, although there are those diamonds in the rough and my team frequently does "fixer" deals off the MLS. It's simply a numbers game.

    Working with a great broker can also help as they will know how best to represent your interests and play the game. You will never know the right number until you have a chance to inspect and get contractor bids, which will typically happen after an offer is accepted. 

    2Reply
  • Jake AndronicoBusiness Member
    Realtor · Reno, NV · Member since 2019 · 1k+ posts · 938 votes
    1y

    @Khyree Randall

    Most buyers are not flippers or investors. If there is more demand than supply, this will be the outcome in desirable areas. 

    It's difficult to find fix and flip opportunities on the open market but can definitely be done. I just closed one for a client over the hill in Reno, NV. 

    There has to be some other angle usually with on-market that others are not seeing. Sometimes the asking price does not reflect what's actually going on, there's a tenant, there's a change in the seller's situation, etc. 

    Depends on what you're trying to accomplish. 

    415-233-1796
    2Reply
  • Khyree Randall
    OP
    Member since 2025 · 15 posts · 8 votes
    1y

    @Scott Scoville thank you! Are you doing mls deals as well or only off markets? I would definitely love to connect.

    0Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1y

    DO NOT wholesale MLS property. Waste of everyone's time. Only do off market properties. Your point as a wholesaler is to bring value by finding deals that are not already listed. MLS deals are out there already listed and marketed and it's a waste to try and wholesale them. Find deals off market. Door knock, cold call/text, mailers, social media, etc.

    1Reply
    • Khyree Randall
      OP
      Member since 2025 · 15 posts · 8 votes
      1y

      @Caleb Brown no offense but a snowball has more of a chance in hell not melting than me ever knocking on a door. And plenty of people wholesale mls all the time and get deals it's actually quite common. People always say there's no value but that's not for you to determine. If the sell is motivated enough, then the wholesaler has all the value in the world. And there are a plethora of mls deals. Most people just don't know how to get em.

      1Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    1y

    @Khyree Randall

    I completely understand how frustrating it can be when the market feels overly competitive. I've been there, and it's important to know you're not doing anything wrong, it's just a tough market right now. To adapt, focus on refining your ARV and repair cost estimates, explore off-market deals, and consider creative financing strategies like seller financing or partnerships. Stay disciplined with your numbers, build relationships with local investors and agents, and be patient, good deals will come with persistence and the right approach.

    Good luck!

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  • Chris Magistrado
    Investor · Member since 2022 · 78 posts · 42 votes
    1y
    Quote from @Wale Lawal:

    @Khyree Randall

    I completely understand how frustrating it can be when the market feels overly competitive. I've been there, and it's important to know you're not doing anything wrong, it's just a tough market right now. To adapt, focus on refining your ARV and repair cost estimates, explore off-market deals, and consider creative financing strategies like seller financing or partnerships. Stay disciplined with your numbers, build relationships with local investors and agents, and be patient, good deals will come with persistence and the right approach.

    Good luck!


     This is great advice. Can you share some of your insights on how you've applied this to the Austin area?

    0Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1y
    Quote from @Khyree Randall:

    @Caleb Brown no offense but a snowball has more of a chance in hell not melting than me ever knocking on a door. And plenty of people wholesale mls all the time and get deals it's actually quite common. People always say there's no value but that's not for you to determine. If the sell is motivated enough, then the wholesaler has all the value in the world. And there are a plethora of mls deals. Most people just don't know how to get em.


    Keep wasting your time then and looking at MLS deals ;)

     You can make more money and actually get deals going direct to the seller instead of this. You would build a way better business. Anybody that is an investor would discard your deals. They will just wait for you to cancel the contract and offer on the listing themselves. 

    0Reply
  • Trevor Finn
    Real Estate Consultant · Columbia, MD · Member since 2017 · 160 posts · 55 votes
    1y

    @Khyree Randall

    It's definitely frustrating in competitive markets like Sacramento, but you’re not necessarily doing anything wrong! In hot markets, some wholesalers and investors use 80-85% of ARV (minus repairs) instead of the typical 70% to stay competitive.

    A few tips:

    1. 1. Reassess your repair estimates and see if you're being overly conservative.
    2. 2. Network with local investors to understand what formulas they're using.
    3. 3. Explore off-market deals where competition might be less intense.

    Don’t get discouraged—success in these markets often comes from building strong connections and thinking creatively about deal sourcing!

    0Reply
  • Nena Stewart
    Member since 2024 · 4 posts · 2 votes
    1y

    Have you watched any Jerry Norton You Tube videos? He has excellent training, detailed explanations and live calls with agents. I've gained a tremendous amount of knowledge just listening to him talk to agents and sellers on his live call training. 

    0Reply
  • Stephen MoralesBusiness Member
    Jacksonville, FL · Member since 2025 · 402 posts · 205 votes
    1y

    Your strategy plays a big role in how you approach these deals. If you're wholesaling or looking to purchase investment properties, I’d highly recommend focusing on off-market opportunities rather than competing in the MLS, where you're seeing these above-asking offers.

    If the properties you're making offers on are As-Is investment listings, a few things could be happening. Some buyers may be inexperienced and overpaying, possibly miscalculating repairs and ARV. Others may be buy-and-hold investors banking on appreciation, willing to keep the property as a rental until it gains more value. There's also the possibility that owner-occupants are purchasing these properties as primary residences, meaning they don't need to worry about flipping profit margins.

    If you're consistently getting outbid, it may be time to adjust your approach. I would look at expanding your lead generation efforts to include creative financing options, absentee owners, tax-delinquent properties, high equity and probate deals that are off market. 

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  • Scott ScovilleBusiness Member
    Real Estate Agent · Sacramento, CA · Member since 2019 · 497 posts · 272 votes
    1y
    Quote from @Khyree Randall:

    I was talking to my brother on the phone and would like to get others educated opinions on the matter. I live in Sacramento, and have noticed that people are offering either equal or above asking price even for homes that sometimes need 80-100k in repairs and I can't see how they would even make a profit doing that. Am I doing something wrong when it comes to determining the current value or even the arv of a home? This has been a reoccurring situation over and over again and it’s getting me frustrated and I’m starting to question what exactly am I doing wrong.

    Thanks in advance.


    Hey Khyree, any luck locking up any properties? We have some flip opportunities coming up soon.

    [email protected]415-933-2202
    Scoville Realty & Investments LLC
    WebsiteView Page
    0Reply
    • Khyree Randall
      OP
      Member since 2025 · 15 posts · 8 votes
      1y

      @Scott Scoville not yet. I almost got an LA property under contract but I had my comps wrong and the owners wouldn't budge on the price so it ended up being a dead deal unfortunately. I'm looking at fsbo's in DFW area right now.

      0Reply
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