Recently I was asked to find a rare car for my friend and my friend told me that we would look at it soon, I found it and we are going to be looking at it soon.
If incase the deal gets closed, how much finders fee should I ask him? The car is worth around $290,000-$310,000.
You need to negotiate that shit BEFORE you do the work
After the work, you did it for free and you’d be an asshole to ask for anything
You pussied out you’re gonna pay the price
He specifically told me he’d give a finder’s fee, which I admit is my fault for not specifying how much.
Although, I did most of the work ensuring that the car is great. Has a few thousand mileage, kept in original condition, nothing to restore. The only thing I didn’t do is to negotiate the price which he’ll do.
So call him right now and talk to him about it
Call your mate and discuss. Ask him what he was thinking would be fair, be able to justify it by explaining in detail the time and money you put in.
Treat it as if you’re providing him with an invoice. For example “I traveled $x worth” and “I spent X amount of time then and then” etc. Don’t be emotional about it. You provided a service, this is what you spent to provide that service and go from there.
The best finders fee is driving along with your friend in his awesome new car.
What’s the friendship worth to you?
Did you spend hours upon hours travelling and researching just for the chance for someone to maybe sell their car to your friend. Did it really take a lot of effort. or did you just type the model in facebook marketplace and shared a link
I actually did, in our country this is a rare car, the manufacturer only imported a handful of this car. Original plate from the 80’s, never been restored, kept original (lol driving and looking at it feels like it was kept inside a bubble) and only has a few thousand mileage.
The only thing I didn’t do is to negotiate, he has people for that.
So you would only charge this “finder’s fee” if he backs out of the deal?
To close a deal means to go through with it. It was just worded in a slightly confusing way.
Ok, but was there any discussion of a finders fee before you started searching? Because if there wasn’t it seems kind of greasy to ask for one after the fact, especially considering it’s for a friend.
No he told me that he’d give me the finder’s fee before all this. Sorry I didn’t include that in the post. English isn’t my first language, sorry for the confusion.
The post was intended on how much I should be getting, not how much I’d be asking.
Ok I see where you’re coming from now. I don’t think 5% of the sale price is unreasonable.
OP is a trash human
I tend to agree, the person told him they would provide a finders fee and if it’s a friend the thought wouldn’t cross my mind to ask for an amount. I would just let it play out and be thankful that he kept his word for any amount.
You’re getting nothing unless he kindly offers something. Finders fees at shops are usually 2-6% but they’re agreed upfront and the amount depends on the expected purchase price and time taken due to specific requests.
You helped a friend out and that’s it, anything you get from him is a bonus.
for a friend…$0
do you WANT the money or NEED the money?
bring it up in a joking fashion if you afraid to talk about it… " Mate, I’m gonna buy a --insert whatever-- with my finders fee ha ha ha" see how he reacts
He was probably thinking $10 not 10%