Join Date: Oct 2002
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Best way to use a broker? I''''m 0 for 2.
Yes, I have had great results working with a carefully chosen broker.
As soon as you start calling on boats, all the brokers will offer to "send you what you''re looking for..." Don''t take any of them up on it. If a "buyers broker" sells a boat that his own brokerage listed, he won''t have to split the commision with anyone. $$$$$ Or he might only show you boats represented by brokers with whom he has a deal worked out.
You need to find someone you really, really trust to represent you.
We used a "buyers broker" for our last boat, and I''m glad we did. What she didn''t do: find the boat for us. What she did do: help us get it. i know for certain we would not have sealed the deal on this boat without her expertise.
She talked to us at length about what we were looking for. She''s extremely knowledgeable about just the type of boat we needed. She DID send us packets of printouts of suitable boats, but we found, over the course of our search, that WE were finding more boats on our own. That''s because we spent literally HOURS every day scouring the internet as well as magazines. She did a weekly, or so, search of the brokerage listings.
However, every time we found something vaguely interesting, we called her and she got the full info on it for us immediately. She checked about and found what recent boats like it had sold for, asked the selling broker what the ''scoop'' on it was, etc. If we were interested, she set up the viewing for us. And, when it came time to make the offer, her advice was utterly invaluable. Like I said, we wouldn''t have the boat if we had not been working with her. There was another couple "bidding" on it and her timing (after work hours!!) is all that got us in at the right time. She was in constant contact with the other broker, monitoring the situation for us. if we''d been on our own we''d have hesitated and lost the boat. For her trouble, she split the 10% commision with the selling broker. We paid nothing extra.
When we found a "for sale by owner" boat, it was understood that we''d do everything ourselves...no hard feelings.
So, yeah, all of the opportunistic, shark-like brokers who get a whiff that you''re really gonna buy a boat will be begging you to let them search for you. But pick ONE that you trust and respect, and deal ONLY with that person. (Do NOT make the mistake of dealing with several at a time. This is just not how it''s done, and there can be major hard feelings....)
Have fun looking! Boat shopping is so much fun!