Real Estate Bird-Dog Service
What is it?
‘Bird-Dog’ – A real estate investing term that refers to someone who spends their time trying to locate properties with substantial investment potential. Usually, the intent is to find properties that are distressed and selling at a discount that can be repaired or remodeled and sold for a sizable profit.
Bird-dogs will be required to take pictures and possibly do research to complete a package of information to give to the investor for him to follow-up on and purchase the property.
A few things you want to have are as follows:
- Property Address
- Asking Price
- Location of city
- Type of house
- Pictures outside and inside
- Pictures of houses in the neighborhood
- A brief assessment of the house
Why You Should Start?
This can be cost effective. The Birddogs grunt out the hard work Birddogs for commission which can help you get big results to your bottom line.
Bird-dogs exchange their time spent searching for deals for a fee from the investor who purchases the property. Bird-dogs are usually paid at closing. The fee a bird-dog receives can range from $500 to several thousand dollars.
A successful bird-dog is someone who is able to locate distressed properties, communicate with the property owners, and be able to effectively estimate the cost of any needed rehab. Some investor requirements of their bird-dogs might include: a list of property addresses , the property owners name, approximate mortgage balance, length of ownership and an estimate of rehab costs. Bird-dogs can expect a higher referral fee if they are able to provide more detailed information. Some investors will pay a larger fee to bird-dogs after they present the fifth property that the investors purchases.
This frees up the time and resources of the real estate investors because now all they have to do is focus on doing their due diligence on properties that they want to own. They don’t have to waste time running around looking for great investment properties.
Levels of Real Estate Bird-dogs Strategy
The concept behind bird-dogging is that you use your expertise to locate well priced real estate properties, that are for sale from motivated sellers and bring them to the attention of real estate investors, wholesalers and rehabbers.
There are 3 levels of Bird-dogs:
1.Property Locator – scouting for properties and relay the information (address and seller’s name) to the investor;
2.Property Locator and Analyzer – same as above, but with the added factor that the birddog also analyzes the deal for the investor;
3.Property Locator, Analyzer and Assignor – this puts the birddog one step closer to being a wholesaler. Not only he/she locates and performs analysis on the property, but also writes a contract and assigns it to the investor/end buyer.
Of course as the real estate bird-dog moves up the levels, so does the compensation. From $1,000 of level 1 to $5,000 or more in level 3.
On Going Bird-Dog Management
You require significant time, commitment and experience to manage a real estate bird-dog program. Here, our team consists of experienced and skilled real estate marketers. Our well experienced marketers will take the burden off your shoulders and onto ours.
Bird-dog Recruiting: For the best bird-dog program you need the best bird-dogs. Here our experience team members will recruit the best and most qualified bird-dogs to work for you to get the best properties and subsequent deals.
Managing Communications: Communication is the key to a bird-dog programs and one needs to have great communication skills to work as a successful real estate bird-dog. Ensuring good flow of dialogues with great communication skills with the individual bird-dog will help them improve their marketing for your real estate agency business and we have the team members with great communication skills which will help you have the best bird-dogs ever.
Compliance: To give your real estate investment campaign the best chance to achieve success, compliance is also necessary. Compliance requires constant oversight. We carefully monitor bird-dogs signups and the real estate bird-dogs activity to ensure that the bird-dogs remain in their level guidelines.