I am a reo wholesaler starting to use birddogs. Can anyone tell me what the typical birddog compensation is for a deal that closes, and what is usually required of the birddog in terms of taking pictures, comping the property, getting in contact with the bank etc?
Thanks in advance
500 dollars is typical bird dog compensation at closing. You have to set for the bird dogs what you want to see out of a lead in terms of pictures and addresses and so on and so forth.
If a wholesaler offered me $500 I’d move on to the next guy. Most offer $1000 and up. If he wholesaler is smart they’d offer as much as possible in order to get more leads.
I agree with this completely. If I’m comping a property and offering a ton of info, AND finding the deal, I’m not working for $500. Screw that.