If you are an investor that primarily works with properties that you can fix and flip, you need to let your real estate agent know the kind of “fixing” you prefer to do with your property. You might only want to do light repairs such as painting, replacing fixtures, etc. Perhaps, you are not one that shies away from houses that need extensive repairs like plumbing or foundation repairs. It is important to let your real estate agent know these criteria as well.
Keep in mind that real estate agents are paid commission based on the price of the property. When you purchase a low-priced property, the agent makes a low amount of commission on this property. Unless you plan on doing the extra work associated with the purchase, like writing up the offers, it is a better business practice to compensate the agent for the time spent working with you. If the agent spends a great deal of time showing you properties, consider negotiating an hourly wage. The real estate agent will see that you value his time and is more likely to notify you with good investing deals.
In your career as a real estate investor, you will meet many people that will be of use to you. The real estate agent is perhaps one of the most important of these. Maintain a good working relationship with agents by being clear on what you are looking for and compensating him for the time he spends working with you.