Need advice on working with investors

[Vince Reina]

I am a new agent (first full year) so I am learning my markets but I have a contractor who has apporched me about finding homes for him to fix and flip. What advice would you give me to help me make this a success for both of us?

[Michael Woodward]

@Vince Reina  As an investor, the things I've needed most from my agents are data (so I can research the market), real estate value information based on the agent's personal experience (houses they've sold), and daily searches for good investments.   The more information the better.  

Regarding your concern about helping your investor to see things realistically.... you will need to give him enough solds data to show him what the realistic value is.  Nailing down a properties "value" is a lot easier said than done though because there are many parameters that will define it.  If you expect it to sell within a week of being listed, you'll have to price it at a certain level (below market value).  If you're ok with letting it sit for a few weeks or months, you can price it higher.  It's a subjective thing that's not easily defined. Your best option is to become a values expert and inundate your client with data.  Make it clear to him where you stand and then let him make his own decisions.  

Good luck!