bird dog

[George M Luzer]

Upon finding a property or home and passing the lead to an investor should I have something in place such as a finder fee agreement ? and if so will I need to set up with a lawyer or will the finder fee forms on-line work ? George

[Assaf Furman]

@George M Luzer Passing over a lead is a bit tricky since typically you'd get paid if the investor can close a deal on it. What this means is that you have to trust this person for getting back to you with the good news that he got it, knowing you'd get paid according to what you've agreed on prior to bringing the lead. Even if you have a signed agreement in place written by the best attorney there are many ways to circumvent it if the investor really wanted to save those finder fees to himself.

Bottom line, relationships are critical and you want to put yourself in a place where people will want to work with you. I did that with my first lead and sure enough I had the relationship in place already.

BTW, a lead= Owner of a property who has expressed his/her will to sell. The property is just the vehicle.