A bird dog is a real estate professional who actively seeks out under-priced properties and sells them to motivated buyers.

A bird dog is a term for investment in real estate, which refers to a form of broker or agent who spends their time trying to locate properties with significant investment potential. A bird dog is searching for motivated sellers or undervalued assets with the goal of moving the deal on to a real estate buyer for a percentage or fee.

Instead, a “bird dog” in the car business refers to a salesperson, or third party, that refers a potential customer to another salesperson in exchange for part of the commission, according to The Free Dictionary. The meaning of the term stems from the hunting dogs that are used to track down and retrieve birds that have been shot.

to try hard to find out as much information as you can about something, especially when the information is not easy to get: I want you to bird-dog who's been funding that company over the last two decades. (Definition of bird dog from the Cambridge Business English Dictionary © Cambridge University Press)