SailNet Community - View Single Post - Honest disclosure
View Single Post
  #18  
Old 06-05-2013
jameswilson29's Avatar
jameswilson29 jameswilson29 is offline
Senior Smart Aleck
 
Join Date: Aug 2009
Location: Richmond, Virginia
Posts: 1,852
Thanks: 18
Thanked 52 Times in 47 Posts
Rep Power: 5
jameswilson29 is on a distinguished road
Re: Honest disclosure

Quote:
Originally Posted by sailingfool View Post
I doubt any YBAA member broker would participate in a sale that does not use the YBAA form.
Actually, the owner is the principal and the decision maker, the broker is merely an agent. It is not the broker's decision. The broker may only recommend its form contract and try to convince the seller that it is in his or her best interests to use it.

If an agent does not convey an offer to the principal, he or she has breached the agency relationship; communicating offers to the seller is one of the essential functions of a sales agent. The broker does not get to decide what offers and contract the seller should consider. A broker who does not convey an offer risks an end run by a saavy buyer, who may contact the seller directly and bypass the broker entirely, even though the seller may still owe a commission on the sale. With all the research resources available on the internet, it is not difficult to find the boat owner's contact information. I doubt a seller who finds out his or her agent is not transmitting offers will be very happy with the broker's services.

Most sellers (and most buyers) are smart enough to know whose interests are being protected by the broker's association contract.

Last edited by jameswilson29; 06-05-2013 at 01:12 PM.
Reply With Quote Share with Facebook