Does anyone know whether there are regulatory requirements for being a bird dog, especially if you advertise on the internet. Do you have to have a realestate licence or such?
I’ve found quite a few pos-cashflow investments that are out of my league but nonetheless going begging and it would be great if I could use these to my advantage without doing the actual investing myself.
Any general advice would be appreciated.
Thanks
GerardHi Gerard
you would need to check with the state that you live in. In some parts of Australia i believe it is not allowed (can’t understand why). The other thing is you need to make sure you don’t get a kick back from the seller as then you would need to have a real estate license i believe ???
all the best with it
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
One other thing you cannot do is introduce the buyer to the seller or the sellers agent, as this is deemed as being the agents representative.
Cheers
Leigh K[biggrin]Leigh K,
If this is the case then I obviously don’t understand what a bird dog is. Perhaps Steve can help out because he mentions in his book that time rich persons can help out time poor persons with this whole bird dogging thang. If you cant take a kickback from the sellers agent or introduce a buyer to the seller or the sellers agent then what the heck can you do?
I’m very confused.
Gerard.My uneducated impression here is that you source the deals and then offer to forward the contact details of either the vendor or their agent on to a third party for a fee. You don’t need to contact the vendor or their agent yourself, you just point someone in the right direction after they hand you their cash. You get paid if they go ahead with the deal or not.
Doesn’t seem like a friendly way to do business to me but from what I have gathered, this is how it works. Perhaps you could set up a sort of partnership where you find the deals for someone who will then include you in a joint venture?
I’m surprised you haven’t had any e-mail or PM enquiries asking about what you have found. I’d ask but I don’t have the finance to do much about it either.
Sorry I don’t have any definitive answers.
Cheers
SonjaSonja has clarified it very well, if you are thinking of bird dogging in OZ, I would suggest you have a read throught the REA website for the legal aspect of introducing buyers and sellers.
Cheers
Leigh K[biggrin]
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