My question involves real estate located in the State of: California.
I do "Bird-Dogging", or scouting per se. I find off-market property deals for developers that they would not be able to find otherwise and have no knowledge of. I provide pictures, inside information, connect them directly with the owner, set-up a walk through, and they have the chance to buy it off-market exclusively. If they do buy it, they agree to privately pay me a finders fee of the sale price.
I've been doing this for several years. I am not an agent, I do NOT handle any of the transaction aspect, so yes it is legal.
I always have them sign an NDA, and a non-competition agreement first- that they will not try to go around my back and approach the owner, or cut me out of the deal, etc....
But the thing is, I had a developer that said he was not interested in the property, but actually was waiting until it went on the market a couple weeks later, as the owner was intending to list it if he didn't buy it off-market. The second it hit the MLS, the developer was waiting and made the very first offer on it with the listing agent, and I got nothing out of it.
Can a NDA/Non-Competition contract force them to still compensate me if it goes on the market despite it now being public info?
Because if you think about it, they've already seen the property and have a huge head start with everything I provided them did for them.