I’m new to the concept of Bird Dogging, but it sounds interesting. Suppose I want to bird dog a few homes. How do I:
- Select properties?
- Keep from getting cut out of the deal when the buyer and seller meet?
That’s two very general, but two very important questions. I have a freind who’s invested in real estate and have looked at properties with him. I assume if I find bad deals, the buyer will tell me so. But if I find a good one, what’s to keep the buyer from shaking hands with the seller and bidding me farewell?
First off don’t rely on your buyer to tell you whether a deal is good or not. You need to know yourself. Walk the property drive the comps; know your area. And to avoid getting cut out of a deal get it under contract with an assignment clause. Then charge an assignment fee. Don’t even do this though till you have a decent buyer list built up.
We have a lot of “bird dogs” around here. They do their best to sell the property for us. They put out signs, post the home on lists etc. Some of them are brand new and have no buyers list.
When they sell the property they call us, see if its available still, request contracts and at the same time get a deposit from their buyer, transfer dep. to us and everyones locked in.
example: we have P&S with homeowner, we assign to bird dog, bird dog assigns to his end buyer with another assignment- fax all paperwork to title- we close- title company pays everyone at closing.