Finders Fee

[MasseyWV]

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?

 

[Gary Fowler]

There are so many places on the net now to search for equipment that I wouldnt waste my money paying a finders fee for tractor stuff. Tractorhouse.com, Craigslist, Machinery Trader.com even Ritchie Brothers Auction lists equipment coming up for auction. I think most folks selling now use Craigslist as it is free. Tractorhouse lists lots of farmstuff and is searchable by state. Just do your homework on the net. Tractorhouse listed prices seem usually higher than what you will have to pay from other sources but can give you a good idea of asking prices nationwide for used and new equipment.

 

[Army grunt]

If you don't want to do the leg work, An want to spend your time doing something else . I see nothing wrong with having someone else doing this for you. Finders fee is a given in lots of places in this country.I know contractors that gave "Kick Backs" to real-estate people that recommended them for work.
Army Grunt

 

[MasseyWV]

Offering a finders fee isn't something I am seriously considering at this point but it is something I have thought about doing if my search yeilds poor results.

From doing "the leg work" over the past 6 months or so, it appears that I may have a difficult time locating exactly what I am looking for that fits within my budget. To date, I have scoured the internet, watched local papers, compared prices for tractors of any given condition, etc, etc, etc and have been thinking of ways to try and make my search a little easier. Perhaps it is wishful thinking on my part but it never hurts to try.

The problem is that I will be looking for a very specific brand, model, and features. In my case, a Massey Ferguson 135 with a gas engine (still considering diesel), without multipower, in good workable condition but not "restored", and for a fair but not overly inflated price.

To be perfectly honest, my choice of tractor, the Massey Ferguson 135, is a little larger than I would like to have, but I simply can't justify spending 10 grand or more on a tractor so I've opted for an older U.S. made farm tractor as a sort of compromise between price, size, reliability, and parts availability.

Fortunately, I am not in a hurry and am fully prepared to take all the time it takes to find the right tractor, even if it takes a year, or more. Besides, I find the thrill of the chase enjoyable, to a point.

 

[rScotty]

Offering a finders fee isn't something I am seriously considering at this point but it is something I have thought about doing if my search yeilds poor results.
..........
The problem is that I will be looking for a very specific brand, model, and features. In my case, a Massey Ferguson 135 with a gas engine (still considering diesel), without multipower, in good workable condition but not "restored", and for a fair but not overly inflated price.
............
Fortunately, I am not in a hurry and am fully prepared to take all the time it takes to find the right tractor, even if it takes a year, or more. Besides, I find the thrill of the chase enjoyable, to a point.

All I can offer is some encouragement. We found just such a tractor for my buddy some 25 years ago. He had bought a 20 acre farm and was admiring my compact 4x4, but wanted something larger and for less money. So we started looking on weekends. His MF135 came foff of a hay operation in Nebraska where it was always shedded and maintained, everything original, everything straight, and with about 1500 hours it would be hard to fault it. Mechanically it was in nearly new condition, but the paint was oxidized. So they do exist. I almost had a cat when he started dickering price with the dealer. I was afraid he wouldn't buy it, and being a motorhead myself, already knew that those kinds of machines just don't come up very often. But he did buy it and it's been a wonderful machine for him. The MF135 is a massively overbuilt tractor. Perfect for a small farm. I agree on the gas engine, don't know enough about the multipower, and would recommend the optional power steering. I believe that tractor also came in an industrial version. Unless abused, I don't think a considerate owner could wear out a MF135. Send me a private message and we can talk about the MF135 in detail. I helped him with maintenance for ten or twenty years.

As to "finders", I believe ....no, I'd better say that I know there are such people but have no idea how to locate one. How does one find a finder? We all know of folks that have an almost uncanny ability to locate vintage equipment, so those guys are out there. Maybe through a brand-specific tractor club? Is there a Massey club for vintage MF tractors and parts? John Deere people have - or used to have - a publication called "Green Magazine" in which one could find ads for every model and every part ever built for JDs.

A little more about "finders". This may sound weird but I once met a guy named Bruce who seemed to be able to find anything for anyone. In fact, on hunting/fishing trips we used to tease him about his knack for finding things other people had mislaid. Eventually he began working with local archaeologists, though I don't think that his knack was the reason. Might have had something to do with it though. Anyway, it's a true story.
Good luck on the search
rScotty

 

[Zebrafive]

Not familiar with the tractor you're looking for. If it's an older model that an older owner might have who would not use the internet to try and sell. A finder fee might be the way to go. Might be a lot of older tractors for sale "word of mouth" you would never find otherwise. As specific as you want, if it's an older model I'd try offereing a finder's fee. Especially at that brand's dealership. Sales or Service may know of customer with just what you're looking for that the owner might be willing to sell.

 

[CompactTractorFan]

How does one find a finder?

Hire a finder finder.

 

[MasseyWV]

How does one find a finder?

I think finding a finder is like watching the watchers, one simply has to have faith that it will happen, only in this case, the added incentive of cold hard cash would certainly help. However, one thing still puzzles me, how much does one offer the "finder"?

Not familiar with the tractor you're looking for. If it's an older model that an older owner might have who would not use the internet to try and sell. A finder fee might be the way to go. Might be a lot of older tractors for sale "word of mouth" you would never find otherwise. As specific as you want, if it's an older model I'd try offereing a finder's fee. Especially at that brand's dealership. Sales or Service may know of customer with just what you're looking for that the owner might be willing to sell.

You raise a valid point which was the basis for my idea to potentially offer a finders fee if/when the time comes. The Massey Ferguson 135
was made in the mid 60's through the early 70's and is very likely to belong to many older folks who don't use the internet.

TractorData.com Massey Ferguson 135 tractor information

 

[Soundguy]

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?

in the past, if I was looking for a specific machine or part, I have offered a FF for a link that results in an aquisition.

In more general terms, if a buddy has passed info to me about an item for sale Iminght want or need I have many times sent a thanks card with a lotto ticket or fast food gift card in it.. etc..

some small token of appreciation.. etc.

soundguy

 

[muddstopper]

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.

 

[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.