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Gary,
Instead of being paid a bird dog fee ( or paying one) you can always get or give an OPTION to avoid any conflicts.
Realtors have a lot of restrictions on what they can pay for a finders fee. In Texas I believe it is $50 limit – even for a gift certificate. Once again, an option would solve the problem.
Do you know anyone who’s gone to jail for this?
Or gotten a fine?
Or even been hassled by a realtor?
I don’t (though in Virginia).The issue is collecting a fee for a service that some may claim that you need a specific license for.
I say, go get some bird dog fees and try not to annoy a realtor in the process.If you’re really concerned about this – don’t take a fee directly for the real estate transaction.
On the deal I closed in June- I made an unrelated and voluntary contribution to the IRA of the daughter of the guy who encouraged the seller to call me.Otherwise, you could get the property in your name and then take an assignment fee.
Yes, licensed real estate agents have restrictions. The rest of us do not.
But even licensed agents can always find a way!
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