A bird dog finds properties and hands the information to an investor. That's the whole job. You never sign a purchase contract, you never take an interest in the property, and you don't set the price. The investor does his own negotiating and closing, and pays you for the lead.
A wholesaler is different. A wholesaler puts the property under contract in their own name, then assigns that contract to a buyer for a fee. The wholesaler carries earnest money and the risk of not finding a buyer. You'd be carrying neither.
Knocking on a door and asking whether someone would consider selling is information gathering. Discussing price, terms, or representing that you can buy it is where things get murky, and whether being paid for that activity requires a real estate license depends on your state's brokerage rules, so ask a real estate attorney licensed where you work before you take money.
On the handshake: get a one-page agreement anyway, even if he laughs. It needs the fee amount, when it's payable, and how long after you submit an address your claim lasts. Six months is common. Without that last part, an investor can pass on your lead, buy it later, and tell you the deal came from his own mailer.
Also, submit addresses by email so there's a dated record of what you sent and when. That single habit resolves most fee disputes before they start.
