Finders Fee

[Soundguy]

and that's what soap's for

 

[Dr_Zinj]

A finder's fee is a payment to someone, or a company, for their time in locating something for you. i.e. it is a fee for service.

Questions to ask yourself before hiring someone:

(1.) How much is your time worth to you?

(2.) How much time would it take you to find it on your own.

(3.) Does the finder charge by the hour or by the job?

(4.) If by the hour, multiply by their rate times the estimated number of hours. Also, if by the hour, does he have a max fee for the job?

Multiply your hourly time (1.) times the number of hours you think it would take you (2.) times 2 (because most people take twice as much as they figured it would take them to find something.)

If that figure is greater than the cost for the job, hire the finder and pay his fee.

I'm worth $70 per hour in total compensation to my company. However much your company spends to hire you is a good starting point for figuring what your time is worth (assuming you're not self-employed.)

 

[MasseyWV]

A finder's fee is a payment to someone, or a company, for their time in locating something for you. i.e. it is a fee for service.

Questions to ask yourself before hiring someone:

(1.) How much is your time worth to you?

(2.) How much time would it take you to find it on your own.

(3.) Does the finder charge by the hour or by the job?

(4.) If by the hour, multiply by their rate times the estimated number of hours. Also, if by the hour, does he have a max fee for the job?

Multiply your hourly time (1.) times the number of hours you think it would take you (2.) times 2 (because most people take twice as much as they figured it would take them to find something.)

If that figure is greater than the cost for the job, hire the finder and pay his fee.

I'm worth $70 per hour in total compensation to my company. However much your company spends to hire you is a good starting point for figuring what your time is worth (assuming you're not self-employed.)

I wasn't actually thinking of hiring someone, per se. While I did use the term finders fee because it best applies to the situation, it would be more like a small reward or bonus, as an incentive for the average joe who happens to find the right tractor. If I decide to do it.

 

[Soundguy]

i've actually worded requests like that as well.

IE.. i'll pay a small reward to the person that finds me 'x' info/ item that actually leads to a purchase, etc.

soundguy

 

[MasseyWV]

i've actually worded requests like that as well.

IE.. i'll pay a small reward to the person that finds me 'x' info/ item that actually leads to a purchase, etc.

soundguy

I've often wondered how much I should offer if/when the time came. Obviously one would have to offer enough to stimulate interest but at the same time one doesn't want to break the bank, so to speak. In the end, I suppose it would be like anything else, the more one offers, the more interest there will be.

 

[Zebrafive]

I paid a friend a finders fee for finding a buyer for my tn75. Actually, I told him what i wanted for the tractor and attachments and he found someone willing to pay the asking price just for the tractor. My friend kept all of the attachments. He did advertise the tractor on his dime and met the truck the future owner send to pickup the tractor, (shipped to Montana). I got what I was asking, but still felt I needed a bath after the transaction was complete.

Did you offer him a finder's fee if he brought you a buyer? If so did you have to pay it too?

This was similar to consigning to a dealer's lot, only you did not get the dealer's (or his advice on what it should bring)

Did he say I could sell just the tractor for what you want for everything, your price is too low? As friend, he should have. Then you two could have gone from there.

I can see where you might feel taken advantage of. At least you got your asking price. He could have asked for your best price to him as a friend then resold. With you thinking he wanted it for his own use. Not to make a profit on.

 

[Soundguy]

I've often wondered how much I should offer if/when the time came. Obviously one would have to offer enough to stimulate interest but at the same time one doesn't want to break the bank, so to speak. In the end, I suppose it would be like anything else, the more one offers, the more interest there will be.

at times I have made a direct offer of X$ or have stated 'small reward'.. etc.

In the past I have paid 50-100$ work of parts, cash, or 'gifts' to get items I needed.. etc..

all depends on what it is you want.. how rare it is.. how bad you want it, and what the 'facilitator' is doing to get you and it together.

if the facilitator delivers it up on a platter to your door, then it's worth a lil mor ethan just passing you a tel # he saw on craigslist last week.. etc.

soundguy

 

[whodat526]

Has anyone ever tried offering a finders fee to anyone who helps them locate a specific type of tractor or other equipment they are looking for? Finders fees are a common business practice and since I'll be looking for an older used tractor soon, I thought it might be worth giving a try.

Thoughts?

i buy for a couple of salvage yards and depending on the pieces i find for them i get between 250 and 500 just for locating them and making a deal the salvage yards do the rest (which is mainly newer tractors that aren't many broke yet)

 

[2458n]

Your tractor is setting around on someones horse farm whose husband just died. The widow knows about it but certainly does not use the internet. Many small farms in small towns. Your posting your want here is a very smart move. Someone knows where your tractor is at. Good luck and enjoy the hunt.

 

[muddstopper]

Did you offer him a finder's fee if he brought you a buyer? If so did you have to pay it too?

This was similar to consigning to a dealer's lot, only you did not get the dealer's (or his advice on what it should bring)

Did he say I could sell just the tractor for what you want for everything, your price is too low? As friend, he should have. Then you two could have gone from there.

I can see where you might feel taken advantage of. At least you got your asking price. He could have asked for your best price to him as a friend then resold. With you thinking he wanted it for his own use. Not to make a profit on.

I bought the tractor at a great price and paid for it on the very first job I used it on. When I shut my business down, I no longer had a need for a tractor the size of the TN75, I have 2 other tractors. My friend that sold the tractor for me wanted the tractor for himself,but could not afford to buy it. I had priced it to him several months before it was sold or the other buyer was found. I got what I was asking which was pretty close to what I had paid for it and I used it for 2 years. I dont feel I lost any money and there was no agreement as to whether I would pay him anything if he sold the tractor. I could have kept all the attachments, but that wouldnt have been right either. I priced the tractor and attactments and he got me my asking price. If he had bought the tractor himself,or I sold to someone else, I would have gotten the same amount of money and the tractor with attachments would still be gone. I harbor no hard feeling toward this person whatsoever, I just beat myself up a little because I should have priced it higher to start with. On another note, we did some more tradeing on some other equipment last wk, he met my asking price and offered to bring his mini trackhoe over to do a little digging job I need done just to sweeten the deal.