Birddog Information Pack?
as investors, what information do you look for from your birddogs?
if i'm birddogging, should i be approaching the homeowners myself, or leave that to the investor?
as a birddogger, how do you set your "fees". in other words, are you simply getting paid points off the closing? a flat fee? are you charging a small amount for access to the information and then the larger amount if someone closes with your info?
ahh, questions questions questions
Basic guideline: The more information your provide, then the more you can charge.
As a birddog, you decide how far you want to go when gathering information about motivated sellers. You will need to market for motivated sellers. If you gather just names, phone numbers, and property addresses, then you will probably get $500 for every house the investor actually purchases.
If you give the investor information, such as the amount owed, FMV, estimated repairs (if applicable), why the seller is selling their home, etc...then you can ask for a percentage of the profits (5-10%) or a flat fee of say $1000 for every house the investor purchases.
Usually the birddog fee, when they get paid, and how they get paid is agreed upon by both the investor and bird dog. The more motivated a seller is, then the higher the probability the investor will purchase the house. So, that is why the more information you can find out about the property and motivation of the seller adds to the price a bird dog can charge for their services. I hope this helps answer your question.
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Tanya