Bird Dog Contract Reddit
When it comes to real estate, bird dogging is a term that`s used to describe a type of deal-making strategy. In this strategy, the bird dog acts as a middleman between the real estate investor and the potential property seller. The bird dog`s role is to locate potential real estate deals and present them to the investor in exchange for a finder`s fee (also known as a bird dog fee). A bird dog contract is an agreement that outlines the terms of this relationship between the bird dog and the investor.
Reddit is a popular social media platform that allows users to share content and engage in discussions on various topics. As such, it`s not surprising that there is a subreddit dedicated to bird dogging and real estate investing. The subreddit r/BirdDogging is a popular community where real estate enthusiasts can connect, share experiences, and ask for advice.
A quick search on this subreddit for “bird dog contract” produces several posts. Some of these posts are questions from aspiring bird dogs who are looking for advice on how to draft a contract. Others are from investors who are seeking a bird dog and want to know what to include in a contract.
So what should be included in a bird dog contract? Here are some key elements:
1. Compensation: This is perhaps the most critical aspect of the contract. The compensation arrangement should be stated clearly, including how much the bird dog will receive for each successful deal.
2. Exclusivity: The contract should state whether the bird dog is exclusive to the investor or can work with other investors.
3. Responsibilities: The contract should outline the responsibilities of the bird dog, including the types of properties they should be looking for, the information they should provide to the investor, and any other duties.
4. Confidentiality: The contract should include a confidentiality clause that prohibits the bird dog from sharing any information about the investor`s business or properties with third parties.
5. Termination: The contract should outline the circumstances under which the contract can be terminated and the notice required for termination.
In conclusion, a bird dog contract is an essential agreement between a real estate investor and a bird dog. It helps to ensure that the relationship between the two parties is well-defined and that each party understands their responsibilities and compensation arrangement. Those interested in bird dogging can find valuable information and insights from Reddit`s r/BirdDogging community.
