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post #7 of Old 08-29-2009
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Originally Posted by mm2712 View Post
So how do you get a broker to work for the buyer?
Assuming the broker is not your blood relative it's not going to happen. Even if he is your blood relative it is very unlikely.

The broker works for his commission the commission is paid by the seller.
It depends what you mean "work for".

If money is no object and their is a specific boat you want you could theoretically offer the broker a few thousand extra to find your dream boat.
Then they would be "working for you" in one sense?

If your definition is to find your dream boat at the best possible price it's not likely to happen. It's not in the brokers best interest.

That being said every boat is an exception and so is every broker. Some, even many, are very, very nice guys.
You may find one that will really work for you in the sense of showing you a lot of boats and sharing some serious incite about what is good and bad about each boat.
You may even feel obligated, that is the plan, to buy your boat from him even if you find it elsewhere. Everyone deserves to earn a living.

Just be aware that he is paid a percentage by the seller no matter how nice and honorable he is. He has peers to face the next morning and reports to file with He is required to report low, low sale to a customer like you to sold That same sale to himself he does not have to report.

I'm not against brokers. In fact when I retire I may consider it, it looks like a fun job. I'm just trying to explain the forces I believe are at work.

If it is your first boat buying a boat that is easily resalable from a broker is a good strategy. The broker can help you buy and sell and you will learn a lot.

Funny story:
I was walking the dock at a nearby marina last week and struck up a conversation with a fellow on a 28' classic plastic boat. He said the boat was for sale and invited me aboard. During the pitch he said he had bought the boat about 10 years ago and was lucky he got the boat. I asked him why and he said the broker loved the boat so much the broker was going to keep it for himself. I asked the brokers name but he didn't remember. Of course I had a pretty good idea who the broker was, even though there are at least a hundred brokers in this immediate area, as the story sounded very familiar.
I mentioned my brokers name and sure enough a hit.
To this day my new friend is convinced he was the luckiest guy in the world to steal this fine craft from the yacht broker who desperately wanted it for himself.

Last edited by davidpm; 08-29-2009 at 11:35 PM.
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