Okay, you may be hearing lots of terms being thrown around in the Real Estate industry. One term is "Bird Dog". A "bird dog" is a person who finds houses for a Real Estate Investor. The term "bird dog" is a description derived from duck hunters. The bird dog is a breed of hunting dog that locates and retrieves the ducks from the high, marshy grass and brings it back to the hunter. In the same instance the "bird dog" finds the properties of willing sellers and takes this information back to the investor who either purchases the property himself or through another buyer. The bird dog gets a reasonable finders fee at the closing.
The duties of a Bird Dog are to separate the motivated sellers from the procrastinators. The bird dog must ask specific questions to pre-screen the sellers to determine their level of motivation and gather all pertinent information about the property. Sounds easy right, well It is! but the smart "bird dogger" will make sure that their investor has signed his "bird dog agreement form" first before disclosing any seller information. The smart "bird dog" will have a good relationship with a licensed Real Estate Agent who can run comparable properties, be able to verify ownership information and make an intelligent estimate of repair costs.
A good bird dog makes it quick and easy for the Investor to get the property under contract and get paid.
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