Bird Dogging Ethics Question
Just starting out in this fabulous biz. I started as a bird dog for a couple seeking very high end SFRs. I found one across the US that appears good to me but the investors have yet to call to check it out.
The sellers are still in the house but want out really bad. They had one deal that fell through and the appraisal came in at 3.25 million. Their realtor tells me they would probably accept under 2.3, maybe as low as 2.0.
My big question. Since I've rec'd no response either way from the REI I was bird dogging for, is it ethical to try and find someone else interested? If so, how do I go about it?
All input is really welcome!
Step right up and welcome to the Numbers Game!! I think that you should have more than one investor at any given time to avoid such a thing. The people want out of the house bad but the the thing stopping you from helping these people is the lack of contact from your investor? If you had another or ten around, this would be a non-issue. I have three that I work with who I keep in contact with so to avoid this problem. Good Luck!!
YES! I think you need to have a group of investors that you work for. Your seller is your customer and want you to provide them with a service. As a professional birddog you will want to do your very best to help them in any way that you can. That requires options and more than one investor who can close deals.
Just my .02 cents
Quick question: What type of investor are you marketing this type of property to?
Thanks for the replies. The investor that got me interested in this to begin with retails only luxury homes, say 1.5 up.
How do I find more of this type to. I wouldn't think there would be too many around?
Find someone else. Dont let this deal slip away.
Quote:Your seller is your customer and want you to provide them with a service.results_one,
Why isn't the investor the customer?
I would think that, by definition, a birddog works for his group of investors. The birddog needs to find deals for the investor buyers to get paid. A deal that noone wants does not help the seller, but it also does not pay the birddog.
Dave:
You are correct. I consider both the investor and the seller my customers. Because as a bird dog I need both of them to make a transaction work. I serve the investor(s) by bringing them quality sellers and I serve the seller by bringing them buyers who can close deals. The seller was the person who was addressed in this post so I geared my answer towards the seller.
Hope that helps
Gerry:
I depends on your market. My thoughts are that the luxery home market would have less buyers and less sellers. But there may also be less competition..........
I do not work this market though, so take my opinion for what it's worth.
Good Luck
I saw a great response to another question of this nature. The response suggested, when sending the lead to your 1st investor, tell them they have a certain amt of time to respond before you send it to another investor. I think that is fair and gives you an "out" if the 1st investor is unresponsive. But yes, agree, you should have more than 1 investor to farm leads out to.