Boat Purchaser Broker ??

Skippyman · #1 06-30-2011

I have been reading notes on forums and net. We are new to all this. Hopefully want to buy sailboat 40" after the new year. After reading - think a broker is probally a wise idea for us. SO - If do get a broker - how in the world do I do it ? We don't live in a sailing community and looking at different websites it looks like anyone I picked would be a pig in a poke. Brokers seemed to be refered to as used car salesmen ... now all certainly, but many. Any idea how to get a handle on this ? We live close enough to coast where we could go marina walking and talking ?? Is this an option ? Thank you.

JimMcGee · #2 06-30-2011

As a first step you might post the area where you live. Members who've had good broker experiences can let you know who they trust in your area.

Also any information you can provide on price range, type of boat, type of sailing you intend to do would be helpful.

Best of luck in your search,
Jim

rockDAWG · #3 06-30-2011

Quote:

Originally Posted by Skippyman

We are new to all this. Hopefully want to buy sailboat 40" after the new year.

Hmmmm............ I don't know. A 40 inches sailboat is not very big. Is it for your daughter's gerbil play toy.

rockDAWG · #4 06-30-2011

Using a broker is a good idea, it helps you to zero in what you really need. He also helps you to negotiate the price for you, less emotion form the owner. A good broke can keep thing very objective. But a good broke is not easy to find. Some indeed a used car salesman. So interview them and make sure he or she can work well with you and understand your needs. Good luck.

davidpm · #5 06-30-2011

At least around here (CT) boat brokers are not like house realtors. The boat broker only gets a commission for sure for a boat that he lists. So when you tell a broker your requirements he will show you a very small number of boats that he represents not everything in the area.
There are exceptions of course and if you happen to develop a relationship with someone they can do a lot for you even help you buy a fsbo. There are basically no such thing as a buyers broker and sharing commissions is done but not common.

You are buying a boat not a broker you will most likely get to know a lot of brokers and see a lot of boats.

jordanship · #6 07-01-2011

@Davidpm that is not true. All brokers co-broker throughout USA and world even. A very few number of vessels are not available for co-brokerage though this is looked down upon in the industry. Brokers do have more incentive to sell their own listings so may push those yachts. Sharing commission is very common.

@skippyman it is as much a mystery on the brokerage side about how to meet clients. One way is just start seeing boats around town and meeting the local brokers. Find one you feel comfortable with think has integrity and then work with them. Another way is to go to a boat show and shop for a broker you like. A buyer broker is a good idea.

Skippyman · #7 07-01-2011

We live in the S.W. area of country. We have our sights on a 38-40 ft. cruiser. Ideas of sailing coast, Bahamas, S. Amerca, Pacific Coast. Price Range $80-$130,000 - depending on lots of factors. We are studing like mad and taking courses and HOPE to have it all together to buy next year. Spend 6-8 months getting the feel of things and then off we go, baring any unforeseen happening ...

davidpm · #8 07-01-2011

Quote:

Originally Posted by jordanship

@Davidpm that is not true. All brokers co-broker throughout USA and world even. A very few number of vessels are not available for co-brokerage though this is looked down upon in the industry. Brokers do have more incentive to sell their own listings so may push those yachts. Sharing commission is very common.

Your obviously the expert. I only know a handful of brokers in the CT area.

From a practical point of view however it seems that a broker has only very limited time and shopping for a boat for one person can easily take many many hours and lots and lots of traveling.

I was working with a guy, not as a broker but just as a knowledgeable sailor and after showing him probably 8 boats and spending maybe 20 hours plus educating him he writes me a short email explaining how he thought a motorcycle was a better investment. In my case it was amusing, if however I was a broker trying to make a living I would have been annoyed.

Now of course we were looking at 20k boats. I suspect a 130k budget can buy a little more time.

Jorden I have never had the pleasure of buying a boat in FL. Exactly how does the co-broker thing work?
Are you going to go with a buyer to see boats a half a day away.
Make calls on the buyers behalf.
Just how much are you going to invest.
Do you get a buyers brokers agreement to protect yourself from someone picking your brain for months then buying a craigslist boat.

I don't envy your job. Based on what I've seen sailboat buyers are a fickle bunch. How long have you selling boats? Like it?

rjcaudle · #9 07-01-2011

I spoke to several brokers before I found one that seemed more interested in helping me, than making a quick sale. Commission was indeed split. My broker came to the sea trial, and eventually helped me move the boat and became my instructor.

Bottom line is he made out well, but it was well worth it to me. I got an experienced sailor on my side every step of the way through the process.