LOL. I have a chocolate lab ready to go when I am. Everything on there looks like they either need a hair cut or got their head slammed between two fryin pans!
The local Real Estate Boards impose regulation relevant to the distribution or aid in distribution of a homestead with the intent to protect the consumer (and in some rare cases monopolize the marketplace).
Whether or not this legislation is put into place in a criminal or a civil context, it does appear fairly evident that the enforcement of this legislation would be limited to that of:
a) When a consumer is being blind-sided (ie: you are acting on his or her behalf without proper licensing and steering him/her wrong)
b) You are continuously taking a "fee" for selling real estate.
If you are working with an investor, and you are paid by the investor, who has experience in real estate transactions, and you are not party to that transaction (ie: a consultant) you should, (this is not to be construed as legal advice) be ok, for the following reasons:
1) You are taking a fee for selling information, not real estate (nobody can prevent you from charging $5.00 to tell him or her were the nearest gas station is, or where the nearest "deal" is)
2) Even if legislation was in place to protect the consumer, you have conducted no harm to the consumer....so in a semi-perfect world, you can indeed pay for a lead on a house!
I think it is important to know, most investors are opposed to the local Real Estate Boards attempting to corner the market on Buying/Selling properties,
I am certainly of the opinion that the local Boards would like to see no investors/creative RE at all so that they can continue to take a small chunk out of every property sold and have the properties sold according to their "rules & regulations".
There is also such a thing as a simple Partnership Agreement, thereby making the bird dog and the investor principals in the transaction. The Bird Dog is bought out of the Partnership by the investor, thereby violating no State Statute.
Your logic, selling information is okay, is exactly I had in my mind.
I also had thought about involving the birddog as principal. But I’ve never thought about buying his/her part out later. This makes a lot of sense and it sounds like very clean way to do accomplish what I want to do. Have you used this practice? I am assuming you make separate partnership for each deal in the form of joint venture to limit your liability exposure, correct?
I thought the whole point of your idea of creating partnership and buying it out was to leave a paper trace to say your birddog was one of principal in transaction. It’s great you can just do with handshake, but this seems to defeat the purpose. What am I missing here?
Also, do you have any idea how I can do this partnership thing, without requiring the birddog to sign sales contract and other paperwork with sellers? I want to be able to sing sales contract right there and then as soon as the seller is ready to do so with or without the birddogs’ presence.
thank u soooo much
Larry,
I am watching the Westminster Kennel Dog Show this evening and I saw a whole bunch of Bird Dogs.
Dogs Rule!
John $Cash$ Locke
[addsig]
LOL. I have a chocolate lab ready to go when I am. Everything on there looks like they either need a hair cut or got their head slammed between two fryin pans!
whyK-CA,
Glad to meet you.
Here is my take on Bird Dogging.
The local Real Estate Boards impose regulation relevant to the distribution or aid in distribution of a homestead with the intent to protect the consumer (and in some rare cases monopolize the marketplace).
Whether or not this legislation is put into place in a criminal or a civil context, it does appear fairly evident that the enforcement of this legislation would be limited to that of:
a) When a consumer is being blind-sided (ie: you are acting on his or her behalf without proper licensing and steering him/her wrong)
b) You are continuously taking a "fee" for selling real estate.
If you are working with an investor, and you are paid by the investor, who has experience in real estate transactions, and you are not party to that transaction (ie: a consultant) you should, (this is not to be construed as legal advice) be ok, for the following reasons:
1) You are taking a fee for selling information, not real estate (nobody can prevent you from charging $5.00 to tell him or her were the nearest gas station is, or where the nearest "deal" is)
2) Even if legislation was in place to protect the consumer, you have conducted no harm to the consumer....so in a semi-perfect world, you can indeed pay for a lead on a house!
I think it is important to know, most investors are opposed to the local Real Estate Boards attempting to corner the market on Buying/Selling properties,
I am certainly of the opinion that the local Boards would like to see no investors/creative RE at all so that they can continue to take a small chunk out of every property sold and have the properties sold according to their "rules & regulations".
There is also such a thing as a simple Partnership Agreement, thereby making the bird dog and the investor principals in the transaction. The Bird Dog is bought out of the Partnership by the investor, thereby violating no State Statute.
John $Cash$ Locke
[addsig]
Hi John.
Thanks for quick and great response!
Your logic, selling information is okay, is exactly I had in my mind.
I also had thought about involving the birddog as principal. But I’ve never thought about buying his/her part out later. This makes a lot of sense and it sounds like very clean way to do accomplish what I want to do. Have you used this practice? I am assuming you make separate partnership for each deal in the form of joint venture to limit your liability exposure, correct?
Thank you again.
Hi John.
I thought the whole point of your idea of creating partnership and buying it out was to leave a paper trace to say your birddog was one of principal in transaction. It’s great you can just do with handshake, but this seems to defeat the purpose. What am I missing here?
Also, do you have any idea how I can do this partnership thing, without requiring the birddog to sign sales contract and other paperwork with sellers? I want to be able to sing sales contract right there and then as soon as the seller is ready to do so with or without the birddogs’ presence.
I really apreciate your help on this.