Real Estate Investors and Bird Dogs Working Together
71Real Estate Investors and Bird Dogs Working Together
Have you ever worked somewhere where you didn’t feel that your opinion and your efforts were appreciated? It’s disheartening in any profession. I think it is important to know what key element real estate investors and bird dogs working together have to have in place for a long term successful relationship. I’ll sum it up in one word - RESPECT.
Sometimes I think the term “bird dog” is not the most endearing title. I’ve also heard phrases like “ant farms” and “property scouts”. I guess “property scout”, is a bit more flattering than dogs or ants, but it’s all the same: “An ambitious person who uncovers promising real estate properties for investors to purchase”. These hard working people will put in hours not knowing what their hourly rate will end up as but they know if will be worth it. I know some investors think that bird dogs are on the bottom of the totem pole. Please…..! I owe a lot of my success to the men and women who diligently and continually work hours to find the kind of properties that meet my criteria. Could it be the title “bird dog” leads one to believe they are inferior? Maybe. I also think it’s up to the real estate investors and bird dogs working together to set the precedence on how this relationship can work successfully. I don’t know, maybe my ego just isn’t that big. You know what they say, “weigh your ego with your bank account. Which weighs more?”
My bird dogs are proficient and rarely bring me a project that does not meet my specialized criteria. I, on the other hand, will look at everything they bring because of the respect I have for their efforts. It’s a mutual appreciation. Now, I didn’t say that every deal they bring works out. How I wish they did! No one has that kind of track record. Simply stated, we have a mutual respect for one another.
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Contrary to what many people think, not just anybody can be a bird dog or should I say a “good” bird dog. If you are an investor worth your salt, you will take the time to train those that are teachable. It will come back to repay you over and over. In fact, I have had the best results with those that have a good basic knowledge about commercial real estate and are hungry to learn. These types of people make my job fun! I’ll invest time and energy any day with those that really want to learn the industry. In fact, some of these bird dogs have become my best investment partners. Do you think that would have happened had I not respected them first? You see, you never know where these relationships can take you. And I know many successful real estate investors and bird dogs working together as teams which insures everyone’s success.
I have never met face to face several of my bird dogs. I could pass them on the street and not know them. However, this is what I do know: If I ever do meet them face to face, I can extend my hand, look them in the eye and say “nice to finally meet you”. I hope they can do the same for me. I treat my bird dogs with no less respect than I do my loan officer, realtors, appraisers, and yes, even my buyers. Respect has to be key for real estate investors and bird dogs working together to make the deals happen. Everything in your business relationship will fall in place once respect is extended.
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All the comments ahead of me are so true. RESPECT is not just a song title, but what we should all aspire to. Being diligent and looking for the great deals will pay off for everyone from the seller, the buyer and me the Professional Property Scout. And yes, it is a profession. Thanks Donna for once again shedding some much needed light on the subject.
Taryn
As a bird dog, you should understand that you need to be diligent. Steady and consistent effort pays off. Find investors that are actually doing deals and start building that relationship. Most will teach you if they see you are serious and that you are willing to invest your time in learning. Bird dogging isn't for those that are unmotivated aka lazy. You have to be willing to learn the industry. Great article!
Donna,
Good thoughts about bird dogs, I mean property scouts. It helps to work with a team. I know I have worked with a few property scouts and it takes effort to hone in on the ideal property.
Thanks,
Chas
It's not for everyone, but a little diligence sure pays off in this business. I have some very successful friends doing this.
Good article. Respect for each others efforts, i thought was great advice. Team efforts like this can result in great profits. Thanks Donna, keep them coming.
I agree. Not everyone can be a good bird dog. I have found it takes training, patience and peservance. But, once you are in the game it's a lot of fun!
Real Estate Investors and Bird Dogs Working Together
Sailin' Shoes 2 years ago
In most types of business success is a team effort. Looking back upon my high school sports years, I learned the importance of team work. The success of the team depended on EVERYONE. The defensive tackle, although not getting the glory, is as important to winning as the quarterback. Savvy commercial property investors have a team of people, all of whom are key to their success. I believe that it all starts with the Property Scout because without looking at good deals, the team does not have the opportunity to score the big one. Thanks Donna for another good article.