Why Million Dollar Listing's Josh Flagg Loves Myspace

On Bravo's Million Dollar Listing, real estate shark Josh Flagg can talk even the most stubborn seller down in price without breaking a sweat, but if you're still not convinced that the LA agent can broker a killer deal, then you will be after you read this: in June, using his ninja-like negotiation skills, Flagg purchased a 5,000-square-foot Beverly Hills fixer upper listed at $5.25 million for $4.4 million — and that's not even the crazy part. Now, a mere four months later, without so much as repainting the walls, he's sold the home to Myspace cofounder Chris DeWolfe for $5.5 million. That's got to be the easiest million bucks he's ever made. Kudos, Mr. Flagg. Consider us impressed. Check out the coveted piece of property here.

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While the four-bedroom, five-and-two-half-bathroom estate is in need of some updating, its bones are beautiful; it features all French windows and spacious rooms, ideal for entertaining.

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After taking a dip, new owner DeWolfe can rinse off and change poolside in the bath and dressing room.

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The house is located at the end of a quiet cul-de-sac, set back from the road on an acre of land.

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We wonder if Flagg will have any regrets about selling the house before he had a chance to fix it up — especially since it's being reported that he wanted to sell it for three times the purchase price postreno.