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In the United States, a finder's fee is the compensation given to an intermediary in a business transaction. Usually, there is a casual relationship between the one party and the intermediary (the finder), another relationship between the finder and the second party, and the two parties of the transaction would not have met if it were not for the work of the finder.
For example, if an investor wished to sell $3 million worth of stock, he would pay the broker he used a fee of 5%, or $50,000, on the first million dollars of transaction value, 4% (40,000) of the second million, and 3% (30,000)of the third million, for a total fee of $120,000. On an investment of $50 million, the total fee would be $600,000.
"My offer is this: if you recommend a prospective client to our firm and they sign a contract with us, I would in turn provide you with a generous finder's fee." Show comments Advertisement
Most online people-finder sites charge a small service fee, and the results are based on a standard algorithm that searches through social media networks and other search engines.
Mericle had failed to tell a grand jury he had paid $2.1 million to Ciavarella and Conahan as a finder's fee. As part of his plea, Mericle agreed to pay $2.15 million to fund local children's health and welfare programs. Mericle faced up to three years in prison and a $250,000 maximum fine.
The majority of property finders charge a retainer fee before they begin the search for a property. Users of full service estate agents in the UK can expect to pay a flat fee while, more typically in the US, a percentage of the property purchase price may be received from the seller's broker by means of an offer of compensation to cooperating brokers or it can be paid directly by the buyer.
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