Join Date: Nov 2002
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Best way to use a broker? I''''m 0 for 2.
I think the best way to use a broker is to ask him or her the website URLs for boat trader or yachtworld.
My experiences with brokers definitly were not the high points of my life.
The first was only able to show me his listings, one of which was a 41'' Island Trader with the wooden trunk completely rotted. With a wink he told me we could probably get it for 25-30k! With no mast, boom, rigging, and an engine that was mostly rust. The boat had a "renter" living on it and the toilet was broke! What a deal!
Another sold me a 35'' Chris Craft that didn''t have half the gear listed on the spec sheet. Turns out it was the spec sheet from the boats last sale, 2 years before, and the seller had stipped a bunch of gear for his new boat.
I didn''t care too much because I got the boat for about 60% asking price. But I can see where a slip like that could ruin a sale.
I used the same broker to sell the boat, and guess what? He used the same spec sheet AGAIN! And bumped our asking price from 29k to 39k without our knowledge.
When I saw that in his website ad, I got in touch and had him change it to what I wanted it to say and the boat sold in a week.
I''ve had brokers laugh at my offers. That was insulting to me and really none of the brokers business, he or she is simply there to relay an offer, and the following negotiations.
I''ve had brokers not present my offers. It doesn''t hurt the broker to leave your boat on his books, waiting for a better offer.
Anyone in that business that has the opinion that the asking price is the selling price should find work in retail sales.
Do your own shopping. Look for boats that have been on the market a while. I ask around marinas about boats that have set for a long time in the storage yard. Make a almost insulting offer. Chances are anyone paying insurance and yard fees for a boat they haven''t seen in years is ready to get rid of it.
Then get a reputable surveyor. A broker is not going to protect you from a bad boat. He works by commision, and the big difference between a broker and a used car salesman is the broker has a better view from his/her office.