Hello,
Recently, I have been offered a position as a scout or birddog. Since I am new to this field, I am wondering: is it customary to be paid when the qualified lead is submitted? Or at closing? Thanks for your help!
As with most others topics…the answer is that “it depends”. You said you were “offfered a position”. What are the terms of that offer?
I know investors and bird-dogs who do this both ways. Some pay per lead, most (that I know) pay per deal (at closing)…some of those investors pay a percentage while others pay a flat fee.
The bottom line is that it is negotiable.
You can even do a combo of the two. Here are 3 examples of possible solutions:
Paid at closing: $500 per deal that closes.
Paid up front for each lead: $10 per lead submitted.
Hybrid: $2 each lead submitted, $500 for each deal that closes.
The main point is what REIforNewbies said, everything is negotiable. It all boils down to the terms making you and the other guy happy.