Overhaulin'

How much is an independent car agent supposed to get as commission?

I had somebody ask me to help him sell his car recently. I agreed to act as an agent specifically just to help him find somebody who'll end up buying his car. I won't have to be responsible for processing papers and all that. How much should my commission be if my client purchases his car? Do I first prepare an agreement for him to sign before I bring my client over to him? What do I have to include in this agreement besides the agreed commission? How do I go about this? I'm from the Philippines and the rules might be different in other countries but who knows it might be the same as well or maybe I can get some ideas from you. Thanks, I really really need to know about this ASAP.

Public Comments

1. Well, it depends on the car and how much will it sell it for! You could charge between 5-7% of its sale value.
2. Been selling cars for 30 years I have on occasion come across someone selling a vehicle that I knew I had a buyer that may be interested. There really is no papers to be drawn up, it becomes a matter of trust, you hold the purse strings having the buyer and seller in your pocket. Simply say to buyer , if you buy you will pay me $$$ and to seller if you sell you will pay me $$$. It has worked for me many times over the years getting paid from both ends, just don't be greedy, a few bucks is better than nothing.
3. I like Ray's answer and he has the best Answer. I urge you give him 10 points. Thanks for 2 points.
4. uhhhh uh know way 5 or 7% YOU should recive the standard finders fee of no less than 10% but 15% is the norm if car sold for $2000 you should get $300