Boat selling question - Page 2 - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > On Board > Boat Review and Purchase Forum
 Not a Member? 


Like Tree1Likes
Reply
 
LinkBack Thread Tools
  #11  
Old 08-09-2014
Senior Member
 
Join Date: Nov 2009
Posts: 522
Thanks: 0
Thanked 17 Times in 16 Posts
Rep Power: 5
tomandchris is on a distinguished road
Re: Boat selling question

The buyer and the broker may have a deal, but unless part of the purchase agreement is that you pay the brokers fee...the buyer will have to eat the brokers fee. Careful what you sign.

Kicking around the 6%/3% is a real estate norm. Boat brokers norm is 10%, and that would be split if both are represented by a broker. Otherwise, the listing broker gets the whole nut if the seller finds the boat through them.
Reply With Quote Quick reply to this message Share with Facebook
  #12  
Old 08-09-2014
bblument's Avatar
Senior Member
 
Join Date: Oct 2012
Location: Syracuse area, NY
Posts: 246
Thanks: 51
Thanked 30 Times in 22 Posts
Rep Power: 3
bblument is on a distinguished road
Re: Boat selling question

I've sold three houses over the years.. all my principal (OK, ONLY) residences as we relocated due to jobs or increasing family size. For one of them, we listed it w/ real estate agencies and paid commission. The other two of them I advertised and sold on my own, and I received the price the buyers and I agreed upon, less the usual legal fees required of the seller upon closing. No commission. In my experience and opinion, whether it's boats or real estate, if you do not hire a broker, you are not responsible for paying the broker. If the buyer uses one, that's their business.. financially and personally. In one of the two instances where I advertised and sold the house myself, the buyer DID use a broker, and the broker DID attempt to collect commission from me too. I asked him if he had provided any services that I had asked or hired him to perform. After tap dancing around that for a while with self-serving platitudes .. "I made the process easier on everyone.. blah blah blah...".. he finally admitted that I had never asked him to do anything, nor hired him in any way. His commission was covered in full by the buyer, since I had not hired him nor entered into any legal agreement with him. "Industry Standard" or "Common Practice" be damned... I will pay the people I hire.. end of story.

Another hard head.. and proud of it..

Barry
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
"Without question, the greatest invention in the history of mankind is beer. Oh, I grant you that the wheel was also a fine invention, but the wheel does not go nearly as well with pizza." - Dave Barry
Reply With Quote Quick reply to this message Share with Facebook
  #13  
Old 08-09-2014
Senior Member
 
Join Date: Feb 2013
Location: South of Albuquerque
Posts: 408
Thanks: 0
Thanked 15 Times in 13 Posts
Rep Power: 2
desert rat is on a distinguished road
Re: Boat selling question

Sounds like you are going to have to ask the buyer and his agent, work out a
deal or not. Good luck and tell us how it goes.
__________________
Zen is a matter of recognizing reality.
Reply With Quote Quick reply to this message Share with Facebook
  #14  
Old 08-09-2014
AlaskaMC's Avatar
Frozen Member
 
Join Date: Aug 2010
Posts: 562
Thanks: 25
Thanked 20 Times in 19 Posts
Rep Power: 5
AlaskaMC is on a distinguished road
Re: Boat selling question

Quote:
Originally Posted by bblument View Post
I've sold three houses over the years.. all my principal (OK, ONLY) residences as we relocated due to jobs or increasing family size. For one of them, we listed it w/ real estate agencies and paid commission. The other two of them I advertised and sold on my own, and I received the price the buyers and I agreed upon, less the usual legal fees required of the seller upon closing. No commission. In my experience and opinion, whether it's boats or real estate, if you do not hire a broker, you are not responsible for paying the broker. If the buyer uses one, that's their business.. financially and personally. In one of the two instances where I advertised and sold the house myself, the buyer DID use a broker, and the broker DID attempt to collect commission from me too. I asked him if he had provided any services that I had asked or hired him to perform. After tap dancing around that for a while with self-serving platitudes .. "I made the process easier on everyone.. blah blah blah...".. he finally admitted that I had never asked him to do anything, nor hired him in any way. His commission was covered in full by the buyer, since I had not hired him nor entered into any legal agreement with him. "Industry Standard" or "Common Practice" be damned... I will pay the people I hire.. end of story.

Another hard head.. and proud of it..

Barry
Wow. What nerve. I have bought and sold many houses in many combinations and let me say that took real guts to ask you for commission. My parents owned a real estate company and my wife's family is all in the business, that is not "Industry Standard". It is in the purchase contract and is signed by both buyer and seller. If not, then there is no commission. Side letters are extremely frowned upon in real estate so brokers would be brave to work on them. Sounds like more con man than broker to me. I guess I shouldn't be surprised at what some people try these days.
Reply With Quote Quick reply to this message Share with Facebook
  #15  
Old 08-09-2014
Water Lover
 
Join Date: Aug 2010
Location: New Mexico, USA (Heron, Elephant Butte lakes); Arizona (Lake Pleasant)
Posts: 706
Thanks: 3
Thanked 13 Times in 13 Posts
Rep Power: 5
rgscpat is on a distinguished road
Re: Boat selling question

So, what was your impression when you met the buyer? How local is the buyer?
Reply With Quote Quick reply to this message Share with Facebook
  #16  
Old 08-09-2014
Junior Member
 
Join Date: Jun 2012
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
peterennis is on a distinguished road
Re: Boat selling question

Thanks, all for the advice and support. Seems the law is clear: I owe the broker squat. Buyer pays whatever commission they contracted for. If the buyer threatens to back out, my options are to negotiate or walk away. In this instance it's moot as the buyer is clearly a fraud, running what DGA identified as the Nigerian overpay scam. Negotions have been broken off and I'll await a legit offer. Be careful out there!

Peter
Reply With Quote Quick reply to this message Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Question on Selling my Sailboat wzhannig General Discussion (sailing related) 2 06-14-2011 01:04 PM
Pearson 10M: selling question ebreeden General Discussion (sailing related) 6 11-26-2009 08:09 PM
Question about Selling JoeAbb General Discussion (sailing related) 16 11-06-2009 07:53 PM
question about selling a boat jbarros Boat Review and Purchase Forum 2 12-19-2002 05:05 PM
Selling a Boat Jon Shattuck Buying a Boat Articles 0 01-14-2002 07:00 PM


All times are GMT -4. The time now is 03:06 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.