Real Estate Agent birddogging

Can someone explain to me the conflict of a real estate agent birdogging?

The National Association of Realtors (NAR) prohibits referral fees to non-licensed individuals. I think you can receive a gift with value up to $50, but that’s it unless you are also a licensed agent.

Are there any issues if the agent provides the potential investment property to an investor instead of taking the property as a listing of his own?

There are no issues I know of where if an agent finds a potential investment property and then passes it to an investor for a finders fee. In a sense that agent is working as your “buyer’s agent” and that relationship happens all the time. However, it is much more realistic to work this way. Agent finds a good investment deal, they will either put it under contract or get a listing agreement and then sell it to the investor.