Hi,
I’m seriously considering doing some bird-dogging to help raise deposit money. Can anyone advise what to expect? Are there any rules-of-thumb or a percentage or standard payments? And how does it work? What does your “customer” expect from you? And what is the best way to present any findings?
Andrew
Hi Aspong,
do you own property yourself? One of the things many clients will expect is that you have experience to assist them with their purchase. being a bird dog can be even more difficult than just hunting out your own deals, depending on the level of service you will offer.
would you intend to just find the proeprty and pass the info along to a client? would you sign it up on their behalf and negotiate it? organise building and valuation, pass the infor around between solicitors, bankers, clients, building inspectors etc etc.
fees do not seem to be related to level of service. our service is no where near as pricey as some offered in the market, but we are not the cheapest either. We do however offer a fairly extensive support to clients who request it and want it.
If all you are doing is getting a set of criteria from a clietn and then heading off to find the property that meets that criteria and thats it, then that will be a different kettle of fish.
Where do you intend to bird dog? In Australia, you will need to be licensed. YOu cant just head out to be a buyers’ agent off your own two cents.
but, bird dogging can get you started in the market – perhaps helping out a few people to start with who know what they are after so that they can provide criteria and such for you to follow.
Presenting findings; Andrew we generally present the figures, a two or three page review of the property, rental info, certificate of title, town and area information, other info that comes to hand about that property, and about 30-40 pictures so that hte client can see it through our eyes. we also provide a list of rental managers, building inspectors, valuers, financiers, insurers etc that we recommend without kickbacks.
so it can be as simple or as complex an offer of service as you like.
Cheers
CDCastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Hi CD, thanks for your reply.
I read about bir dogging in 0 to 30. So I guess I’d be kind’a new at it. :p
In the last 20 odd years, my wife and I have gone through the process 3 times for our PPOR but not for an investment and not for a 3rd party. We have from time to time considered what criteria would suit our circumstances for an IP, but haven’t before been committed to the task.
We own our PPOR outright (approx $350k – no mortgage), but have almost no income at the moment while our new business (a gallery – check my WWW) gets up and running. We expect to start taking a wage from it in the next month or three.
You said we’d have to be registered. As what and with who? (Or is it whom? :p )
If we do go ahead with it, it would be in Australia, principally Victoria (if Steve and his mates haven’t dried it up already. hehe). I guess we’d have to start simple first and get more complex as we got more confident.
We have two reasons for considering bird-dogging. The first is to give us some sort of additional revenue to put towards deposits. The second is to give us some experience while we look for our first +CF IP.
In 0 to 130, Steve suggested it was kind of like getting a spotter’s fee. I guess at the heavy end of the stick that description isn’t very accurate. Could you advise what is typically paid at both ends of the scale? Is it based on a percentage? Or is it like $1000 per house?
Thanks again,
AndrewHi aspong,
least hefty fee I know of is around 1600 bucks to find out about a property, up to around 5K for some of the big firms like ESC Richmastery, and even higher depending on the type of property, have heard of a finder charging up to 10K for the right deal – I guess it would have to have been a big deal!!! some charge by percentage, but generally flat fee dependent on type of property.CastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”
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