What is Hunters for Hire?

I just StreetPassed with someone that had Monster Hunter Tri Ultimate and I got an alert on my Hunters for Hire screen. Blindly pressing buttons, I sent my fellow hunter(s) on a quest to deliver raw meat for 80z. What does Hunters for Hire do? Is it another way to get items like the farm or fishery?

When you receive a players Guild Card you'll be given the ability to send them out on quests via "Hunter For Hire." If the hunter is successful you'll be rewarded with a variety of items, some of which appear to only be accessible via Hunters for Hire (like the Blossom Cricket).

By talking to the Guild Master in Tanzia Port you can change the type of quests the hunters will go on, rewarding you with different items. The options available to you are Quest Rank, which allows you to choose if you want hunters performing Low Rank, High Rank, or G-Rank quests; Locale, which allows you to choose a region for the quest; and Target, which allows you choose the quest type (either Small Monsters, Large Monsters, or Gathering). It's also possible to just choose any for any of the above options, which won't put any filter on the type of quests presented.

You can increase the chance of success by hiring additional hunters to help on the quest. These extra hunters are just generic hunters, and don't require you to have any additional guild cards to do. You'll get the option when you go to hire the hunter.