FINDERS FEE

A fee paid to another party for finding a desired parcel of land or item for purchase. May also refer to finding a person suitable for a job. Fees charged to locate prospective buyers, customers or beneficiaries. This is most commonly used when real estate brokers will take a percentage of the rent amount to be paid by a tenant (and usually paid by a landlord) when the broker finds a tenant to rent the premises. Various state laws govern the percentages such a broker may charge as a finders fee.