Bird Dog fee

4 Replies

I closed on a deal last week that I got from a REIA meeting. The girl did not pitch it to me, but brought it up in conversation. She works for a real estate data company as she learns about REI. Her boss is a broker and he took over connecting me for the transaction. He did NOT represent either party in the transaction. He is representing the sellers as they buy their next property. I basically solved the problem of making the old home with debt go away.

My question is about giving a bird dog fee.  I feel like the girl deserves it as she is who truly brought the deal to me.  I'ts a longer term deal.  The typical bird dog fee around here is $500-$1,000.  

Who do you think deserves the bird dog fee(s) & how much...?  

Well @Adrian Smude , if you toss $750 her way that she didn't expect, ask for, or see coming, I think we can pretty much guarantee who the first person she brings future deals to will be, won't we? And we know from this one that she's got access to inside information that you might not otherwise have access to, so she's a good person to have in our corner? And we also know (implicit from what you wrote) that her boss is OK with her sharing this information, so there's unlikely to be anything illegal going on? 

I'd say, HECK YES pay her a nice fee that is considered generous for your area. 

I picked $750 as an arbitrary number in the range you specified, but yeah make her happy and she will make you happy in the future. 

@Adrian Smude I'm with @Chris Mason as long as you give her cash I think it's a good idea. Never hurts to have multiple people in your market handing you solid deals.

Hi Adrian,

I have to agree with Chris on this one.  I also believe it's the right thing to do that will pay it forward for you.  We actually offer a "bird dog" program through our company and depending on the deal, provide a "finders fee" for anyone that brings us a deal that closes. I believe it will go a long way to getting more business not only because she will be pleasantly surprised when you give her the fee, but she will likely talk to others she knows and they may also bring you deals in the future.  Definitely a great way to go! 

Shawnee

@Chris Mason @Uriah D. @Shawnee McGee Thanks for the quick replies!  I definitely was planning to give her something, but wasn't sure if anyone felt her boss deserved a christmas card ;)  That didn't come across my mind until he called me Friday asking if I was interested in something else he had; I wasn't and we chatted for a few minutes then there was an awkward silence.  Maybe I'm reading too much into it.

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.