I have read and heard so much conflicting information on this topic it is driving me crazy. When is it legal to pay a finder's fee to a birddog?
Under what circumstances, can a licensed real estate agent pay a birddog a finder's fee?
Under what circumstances, can a person, who is NOT a licensed real estate agent, pay a birddog a finder's fee?
I have been told ~75% to ~25% that it is illegal to pay a finder's fee in Washington. And, the only situation where it would be legal to pay a finder's fee is if the birddog AND the person paying the finder's fee are both licensed agents.
I have also been told, that if the birddog gets the property under contract it is perfectly legal, in all situations to pay an assignment fee an purchase the contract.
Of particular interest is how this applies in Washington state.
There are many investors (licensed and unlicensed) that use property locators to find properties to invest in. The intent is to find the properties for investing, not just to get a listing.