Which of you birddogs has taken time to research and put together a NonDisclosure Agreement that is bulletproof for the BD and prevents the newbie from getting reamed by the investor? As the investor, I would appreciate one of you guys helping me out with one of my newbies and forwarding one to me so I can wrap this deal up and get him paid…Can one of you please send one my way?
Thanks,
Dave
Dave,
I noticed an earlier post of yours and was just curious as to why you are asking someone to send you a Non Disclosure form when obviuously you have been using Bird Dogs what happened?
“I prefer to leave my birddogs as principals in the transaction…as long as they have on paper, documented “skin” in the game all is well with the Real Estate Commission. Is it more expensive to me, could I pay what the other guys do? Sure, but I make it up in volume and sleep very well at night. I give my birddogs the opportunty to choose from a large upfront payment at COE with a interest in the deal or straight interest in the deal upon termination. The result is my birddogs are well compensated both upfront in cash (their choice) and at termination of the deal (Minimum 10% net profit) and have a tendency to bring me deals after they’re set financially. It’s win-win all around. Wouldn’t work for everybody, but I don’t worry about violating laws…
Dave”
Then again did you not get Gary’s, the one he uses, thought he would have sent it by now maybe that one would be more condusive to what you guys are doing.
John $Cash$ Locke
Hello John,
Your response is much appreciated. You’re absolutely correct, I have my dedicated 1099 employees that I have my own agreements in place for. My dedicated birddogs stand in violation of my agreement with them if I don’t have right of first refusal.There are other clauses in there that are not quite appropriate as it’s 5 pages and covers all income opportunities within my business model. This birddog is for a one-shot deal and will not be part of my dedicated staff. Yes, this BD will have skin in the game and reap rewards accordingly, as they all do. What I was specifically looking for is an NDA written by a birddog, for birddogs. One of my favorite sayings in this biz is “…He who writes the contract, has the power.” I simply want an NDA so I can close this deal up and make this future partner comfortable in a win-win manner…and I’m too busy to write my own.
I always enjoy your posts.
Regards,
Dave
Are you sure you want a non-disclosure agreement or a contingency fee agreement?
Just a bird-dog oriented NDA will fill the need…I personally don’t require one, I just want to make the birddog feel safe so I can do more deals with them when they’re not an active part of my organization. I just want a document that hamstrings me from going behind their back until they see the way I operate. Appreciate the help.
Regards,
Dave
In that case I would say that you’re actually looking for a non-circumvention agreement whereas you agree not to circumvent your bird dog.
OK,
That’d work too…Have you got one? Thanks for understanding what I’m trying to accomplish here…
Regards,
Dave
Dave,
Just go to Google and put in “non-circumvention agreement” you will have more than you need and they are all similar, so this should get the job done.
John $Cash$ Locke
Many thanks, gentlemen. I can forward this to the BD and let them modify to their heart’s content until they’ve satisfied their hard-earned work isn’t for free. I’d hate to think that that such potential for partner deals would go untapped because a Birddog/Partner wouldn’t feel safe because of the wording of the agreement. This has also been a valuable lesson that most BD’s just want to suck the knowledge out of experienced investors and give nothing in return…I allow my people to do that until they rescind their contract, then I give them a blessing to do it on their own.
Regards,
Dave
http://office.microsoft.com/en-us/results.aspx?Scope=TC&Query=contingency+fee+agreement
http://office.microsoft.com/en-us/results.aspx?Scope=TC&Query=real+estate
I wonder if any of these will work?
Many thanks, Salemgurl!
Regards,
Dave