Finders Fees
 

What criteria is used to pay someone a finders fee? And when do you pay this fee?

Thanks

Re: Finders Fees
 

Depends on the price of the car.
I LIKE to get paid once the deal has been made and EVERYBODY is happy. https://www.yenko.net/ubbthreads/imag...mlins/cool.gif

Re: Finders Fees
 

Depends on the deal. If somebody gave you the number of a "friend of a friend who might have one of those", that's different than if somebody took the time to network and track something down for you. If someone hooks you up with a car you wouldn't have normally found on your own, and did so at your request, I think 5% of purchase price is a good, fair number.

Communication is key. Both parties should know at the outset that this is a potential business transaction. If this isn't agreed to at the start, there's all sorts of possibilities for hurt feelings and simmering grudges.

Kudos to rich p for making a living out of this. I think its every bit as useful as a good real estate agent. But I've found bird-dogging for money to usually be a frustrating experience as a service provider (mostly indecisive people who want you to keep throwing possibilities at them until something catches their eye). The more specific they are in their request, the more likely they will follow through when you find something, (ie "find me a documented '68 L78 Camaro" rather than "find a me a neat old Chevy").

Re: Finders Fees
 

I liked the old days when you told somebody about a car for sale as a favor and didn't expect to be paid for the info.

Re: Finders Fees
 

It hasn't been easy in NO way for me and the bad rap I get for the word BROKER.
Are we talking about the same guy who will go to sell or buy from an auction house and pay their comm ?? 8-10%
So would you like to pay my SMALL comm or the other GUY ??

Guy called me the other day with a 300K car and wanted 30K for that phone # and I laughed. I only wish I made that !!

You can call me or you can call the Other GUY https://www.yenko.net/ubbthreads/imag...mlins/cool.gif

I have tried to only find or sell some of the Best Pedigree cars that I can get my hands on for my clients. For a SMALL amount..
I hand over the # and I don't stack my price on top of the car.

You want to call me or the Other GUY ?

THATS MY JOB !!!! https://www.yenko.net/ubbthreads/imag...mlins/haha.gif

I hope the finder fee is for a COOL car that you wouldn't have known about,unless someone else was writing on here about a cool car they found and bought !! Good luck

Re: Finders Fees
 

I've always felt that the amount of the finder's fee depends on the deal. If its a very good deal on the car being offered for sale, the finder's fee should reflect that benefit enjoyed by the buyer. On the other hand, if the finder simply points out a way over-priced car... that doesn't really warrant a very good finder's fee because the finder hasn't really helped or benefitted the buyer - even if he buys the car.

Re: Finders Fees
 

So what your are saying:
I find a LS6 convert 4 SPEED #'s matching with PAPERWORK and you want a 4 SPEED car ONLY. Do you think I can find a killer deal on mother earth? Yes I have done it !! Bad example. But the point is: You would go to an auction and pay the Auction house !! Or you didnt know it was for sale !! Bad way to look at it !!

Funny thing !!
I would get a call from a seller of a high dollar car and I would call back in about 45 min and tell them. Car is SOLD
Some guys would get pissed I would make my money in 45min.
Would it make them happier if the Realtor took 5-6 months to sell his house or one day !!! You still pay your Realtor the same.
These cars I sell are prices of houses and then some !

I have Networked for years to know were some of the Best cars and buyers are.

This is my Job, Love me or hate me !!! https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: Finders Fees
 

[ QUOTE ]
So what your are saying:
I find a LS6 convert 4 SPEED #'s matching with PAPERWORK and you want a 4 SPEED car ONLY. Do you think I can find a killer deal on mother earth? Yes I have done it !! Bad example. But the point is: You would go to an auction and pay the Auction house !! Or you didnt know it was for sale !! Bad way to look at it !!

Funny thing !!
I would get a call from a seller of a high dollar car and I would call back in about 45 min and tell them. Car is SOLD
Some guys would get pissed I would make my money in 45min.
Would it make them happier if the Realtor took 5-6 months to sell his house or one day !!! You still pay your Realtor the same.
These cars I sell are prices of houses and then some !

I have Networked for years to know were some of the Best cars and buyers are.

This is my Job, Love me or hate me !!! https://www.yenko.net/ubbthreads/imag...lins/beers.gif

[/ QUOTE ]

Are you asking me? I don't see that your comments are related to what I said... nor was I directing my comments to you? https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

If you are referring to me... what I'm saying is that a killer deal warrants a very good finder's fee. Pointing out an overpriced car, doesn't warrant much. If you find me an LS6 convert that can be bought for two million bucks... you haven't really earned a finder's fee. Anyone can find that deal! If you find me a killer deal, I better pay-up because you could have passed it on to lots of other potential buyers.

Re: Finders Fees
 

Not pointing ! Just little chit chat https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: Finders Fees
 

I agree with the both of you...call me a fence rider if you wish.

These cars are getting to be huge $...for the right deal...the finder should be paid for all of his time and knowledge.

Rich....just FYI...Helmut is one of the nicest guys in our hobby and owns a killer L89 Chevelle. Very Rare and perhaps you could broker this very special car for him someday...you just never know https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Dan.