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OT Finders Fees???

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Jacksonburg

01-22-2008 06:58:51

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I hear of people offering finders fees for old tractors, services or anything else. This got me thinking, I have a Electrical buisness, and have a lot of people refering my company. This works very well for us, and I think that offering a finders fee would be a good way of keeping these people motivated. but, how are finders fees set up, percentage of value, flat rate, how does that work?

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Don V.

01-22-2008 12:49:50

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

A guy I know but seldom see or talk to called me to let me know about a tractor he thought I might be interested in. Offered to meet me to look at it and assured me he wasn't interested in it. I bought it and told him I was buying to re-sell. OK with him. He even met me a few days later to help load. Advertised it and quickly sold with a good profit. Saw him two months later and had to force him to take $100.oo for his help. He knew I made money and still refused any reward. Like I said, had to force him to take it. Still GOOD friends. That's PRICELESS!!

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mike

01-22-2008 10:01:42

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

if you see my post(s) below I think you need to discover what makes your people happy. Some people may take offence at you offering them cash but would sure appreciate a good dinner out on the town. other folks may have their backs against the wall and 100 bucks (or whatever figure) would better spent towards the electric bill or whatever. most importantly let em know their efforts are appreciated

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gun guru

01-22-2008 09:25:45

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

Case of beer, $50 bill, easy stuff unless somebody gives you a huge order and wants 5-10%.

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ericlb

01-22-2008 09:01:09

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

i would think there is no set kind of finders fee, some people offer a certain amount of money or something of value in return for information leading to a certain kind of item, [ old tractor truck or whatever] sometimes a finders fee is given to somebody who can see that one person he knows is looking for a item and the 3rd party happens to know that another friend of his has the item, its nice to give the person something just to let him know you appreciate his taking his time and trouble to help you out

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mike

01-22-2008 08:49:20

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

guy told me wanted to sell a bunch of heifers. I spent an hr looking them over as a group and said I'll make a phone call for you. Less than 2 weeks later he has no hfrs but has a check for 90,000 dollars. 100$ bill would have been appreciated; gift certicate for dinner for me and my wife woulda been nice. never even got a thank you.
I like the idea of a gift certificate. Sears? (who can't use some more craftsman tools???)Or at their favorite restaraunt? More importantly a handshake and a sincere thank you mean a lot to me.

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Mike M

01-22-2008 11:00:06

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Re: OT Finders Fees??? in reply to mike, 01-22-2008 08:49:20

You could of just handed him the phone number and saved all your time ? Or when you called the buyer you should of told him up front to pay you a finders fee.

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Ray

01-22-2008 09:21:05

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Re: OT Finders Fees??? in reply to mike, 01-22-2008 08:49:20

I have posted a finders fee for different tractors i've been looking for.People will email me about a tractor that was advertised just below my add or on another web site.I finally started putting if it's on the internet i already know about it.Some wanted me to pay in advance for there help before they would give me info.

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bustedknuckles

01-22-2008 09:05:06

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Re: OT Finders Fees??? in reply to mike, 01-22-2008 08:49:20

Mike

Did you learn your lesson?

Long story short. My wife and I were on our way home from our annaversary dinner and witnessed an accident. Cop pulled out in front of a truck and got hit. It was the cops fault. Aside from the the other three cops at the corner that witnessed the accident we were the only civilians to give a statement. We figured if we did not come forward this guy would be taken to the cleaners. He was sued by the city and then had a civil suit with the cop and his wife. All dismissed because of our statements. I missed two days of work giving depositions. No thank you card or nothing. I live out in the sticks so its 30 miles one way to the court house; no gas$ either.

Lesson learned...Unless its a friend do not get involved.

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gordy from Iowa

01-22-2008 11:43:54

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Re: OT Finders Fees??? in reply to bustedknuckles, 01-22-2008 09:05:06

Mike; The old saying that what goes around, comes around has a lot of truth in it. You did the right thing and that is a lot easier to live with than the alternative.

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Walt Davies

01-22-2008 10:42:51

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Re: OT Finders Fees??? in reply to bustedknuckles, 01-22-2008 09:05:06

I was out for drive when we were in California and a kid was hit in front of me by an elderly gentlemen, it clearly was not his fault but the kids parents sued him anyway. As the only witness I was called by both lawyers and gave my deposition over the phone as I lived in Oregon. I never heard what happened but I would surely do the same thing again as I have always thought that its the American way to stand up and be counted no matter what the results are.
Yes the kid was hurt real bad but I felt that it wasn't the Old mans fault and he shouldn't have to pay for it. I may be in the same situation someday and I would hope that someone would come to my aid.
Walt

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Dave H (MI)

01-22-2008 09:14:21

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Re: OT Finders Fees??? in reply to bustedknuckles, 01-22-2008 09:05:06

Gotta disagree. You should never expect a reward for doing the right thing. Guy owed you a handshake but that is about it. As for Mike, I agree with him completely. I am tired of people who don't show their appreciation when you do something for them you didn't have to. Guy should have given him a little cash. Heck, the local coach who worked with my daughter on basketball got paid by the hour and I still sent him a dinner certificate for his favorite restaurant just because he had nothing to gain from her skills and I thought the rate he charged was too low. Heck, she'll be playing against him in a couple years.

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mike

01-22-2008 09:37:34

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Re: OT Finders Fees??? in reply to Dave H (MI), 01-22-2008 09:14:21

older I get the more cynical I get. remeber 20 yrs ago when we all thought if I treat you right you'll do good by me? I'd like to think I'd do the same thing again if in simmilar situation cuz everybody starts w/ a clean slate w/ me. But lately you only get one chance w/ me to make a 1st impression

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bustedknuckles

01-22-2008 09:27:01

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Re: OT Finders Fees??? in reply to Dave H (MI), 01-22-2008 09:14:21

Dave

We thought we were doing the right thing at the time. We live paycheck to paycheck so 120 miles of driving; two days of missed work, and a baby sitter for two kids and a newborn just was not worth it for us. You are right people should not expect a reward for doing the right thing; a thank you card would have done it for me. To put us through that and not have the decency to send a thank you card? My wife and I were all about doing the right thing; I see why people do not want to come forward as witnesses.

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Jim Johnson

01-23-2008 03:44:14

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Re: OT Finders Fees??? in reply to bustedknuckles, 01-22-2008 09:27:01

Well what should be the point is the fact that those "COPS" would do that in the first place. There is where you should be wanting compensation. I hope they were repremanded.

Jim

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ray_woods

01-22-2008 08:16:40

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

If its someone in the trades referring you cash or equivalent. If its a past customer a sincere thank you.

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supergrumpy

01-22-2008 07:58:04

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

nice flower arrangement or box of good candy to the referer always goes over good, sometimes better than cash

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01-22-2008 07:11:54

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

One local car business gave a $50.00 referral fee for anyone who sent someone in and they bought a car. A lot of that depends on the value of the job you are getting from referrals. A car is a high ticket item so $50.00 is not a high percentage, but it is a nice amount. If you are only getting a 3-400.00 job, $50.00 is a pretty high percentage out of your pocket.
Jim

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J. D.

01-22-2008 07:11:47

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Re: OT Finders Fees??? in reply to Jacksonburg, 01-22-2008 06:58:51

Can only speak from experiance. The roofer I used sent me a gift certificat to a nice restaurant for a referal.

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