How does a bird dogger get paid? How would you structure the deals, I am based in New Zealand and are currently finding more propertys than I can buy myself.
I would be keen to pass on these deals for a fee, But how do I make off the Deal?
Cheers
Bird dog … an Americanism
The selling REA is no more than a bird dog for the seller – they just happen to be licensed to act as a sales agent. (In some places you also need to be registered to act as a bird dog – check with the appropriate authorities)
The REA gets paid a fee to sell the property. That commission (fee) is secured by written contract and is paid at settlement.
Let’s say I wanted to buy NZ property.
I tell you what I want. We agree on a fee and when it is payable. You go find it or perhaps you already have the right animal from your research.
Provided I buy the property I then pay you the agreed spotter’s (bird dogging) fee at the agreeed time. That agreed time could be upon exchange of contract, it might be at settlement – it’s whenever you and I agree it is.
How much is that fee? It’s whatever you and I agree it will be.
Hi Kiwi Pi, not a bad summary from betterbiz!!!
They have pretty much got it in one.
some spotters will be like you and find deals ahead of the client, others source property with specific criteria for their already identified clients, lots of ways it can work… PM me for info if you like.CastleDreamer
NZ Investor and Property SpotterYou could also try contacting (PM) westan, who is a mbr of this forum. He runs a good and well-priced service in the South Island.
Hi Kiwi-pi,
there are a number of organizations around NZ that are propertyfinders.
the way they mostly sell there property investments is by a deed of assignment once they have secured the contract with the agent
this is there usual sales process.
1. sale and purchase agreement on property-purchaser(company and or nominee)
2. advertise investment for sale to your database of clients.
3. Give client your fee receipt to sign(some charge between $1500-$5000 or more)
4. Client to sign deed of assignment, means they take over contract(or nominee)
5. client purchases property.
NOTE: ensure they have done there due dilligence and you will have to qualify them to make sure that they are pre approved with finance.
here are a few organizations that do it in New Zealand
richmastery.co.nz
hpc.co.nz
nzproperty.com.au
hotpropertyinvestments.co.nz
propertywholesalers.co.nzmaybe you can apply to work for them as they already have a database up and running.
that is the hardest part if your doing it by yourself, is marketing to get a clientbase.
(unless you advertise in the paper maybe?)and you could also go as far as you can with any of these businesses that i mentioned in their sales process to see the nuts and bolts of how to do it.
i hope this helps.
Have a Great Day!
Matthew Taylor
“Asking the Questions For Your Property Investment Success”
You can also find ppty for sale in NZ at
http://www.realestate.co.nz
This site is very informative and some agents display the address of the ppty so you can then reseach sales data and values for that ppty & suburbKiwi Investor
‘I have IP’s and contacts in NZ’KI
‘Don’t play by the rules, invent your own’
Hey there,
– You can set up a private agreement (just like a joint venture).
– You can set it up in the terms of the sales contract to be paid by purchaser at settlement or at exchange.Sometimes it depends which legal instrument you have secured the property…. it can be as simple as signing over an option or a lease option and the new nominee pays an option fee (any price agreeable).
The beauty of these all are that some legal instruments have more flexibilty than others but choices are many….
Have fun.
Kiwi
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