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  #41  
Old 03-29-2012
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Re: Yacht Brokerage Law and Ethics

As I said in my post last night, you don't know the contractual arrangement the seller had with the broker so you can't say the seller went behind the broker's back. Our broker told us we were free to pursue our own buyer while he was marketing our boat. If he found a buyer, we pay a commission. if we found a buyer completely on our own, we were free to sell without paying a commission.
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  #42  
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Re: Yacht Brokerage Law and Ethics

Ironically, I find it much more likely that a broker will tell you there are many interested parties that are going to bid on a given boat. Get our bid in quickly and bid higher or you will lose it! Nonsense is standard.
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  #43  
Old 03-29-2012
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Re: Yacht Brokerage Law and Ethics

Quote:
Originally Posted by mariopoli View Post
Its me the OP. Here is what I have been able to figure out.

1. If the owner was marketing the boat on their own as a courtesy they should have informed the broker of what they were doing as they went along for the precise reason to avoid what happened me.
You are taking this business too personally. Even if one retains a Broker to sell ones yacht, if one really wants to move the boat one is a fool if one doesn't continue to market the boat oneself as well. The Brokerage Agreement--regardless of type--is not an anti-alienation agreement. It merely ensures that, even of an owner does locate a buyer, the owner will still be obligated to pay the broker some, if not all, of the commission that the Broker would otherwise earn as consideration for his/her efforts to arrange a sale of the boat. Listing and marketing boats/houses/cars/et al isn't inexpensive and consumes time that a disenfranchised Broker might have used otherwise to better advantage.

Quote:
2. The broker should never have promised me my offer would be the only one presented when the broker does not have control over other people making offers to the owner bypassing the broker.
I suspect that the Broker meant that yours would be the only offer presented by him/her. He/she could have no way of ensuring that yours would have been the only offer at all, although by your carrying on, it sounds like you were hoping so in order that you would be the only game in town for the Seller and could somewhat dictate terms. Free markets don't work that way.

Quote:
3. If the broker had a high level of ethics she should have severed her relationship with the seller the moment she realized what the seller had done going behind her back marketing the boat. The commission was more important than the ethics.
That's a pretty ignorant opinion (see note one above in re: commissions). Severing the relationship with the Seller would only have benefited the Seller had he/she managed a sale absent the Broker's participation/assistence. Your take on the "ethics" is warped to suit your own self interest/disappointment. The Broker isn't in business to spend time and effort to loose money. Moreover, the Broker is the Seller's (contract) employee and hence his/her interest, and in fact fiduciary obligation, is aligned with and to the Seller.

Buck up. There's never a last great deal, or boat, and in the long run more people have been happy that their earlier offers were not accepted then were.
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  #44  
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Re: Yacht Brokerage Law and Ethics

I guess I find it mildly distasteful that you are so quick to turn your disappointment into an accusation that someone has done something improper. I don't know where you get the idea that submitting an offer seals some sort of advantage in your favor. The seller is free to accept or reject any offer for any reason, with or without another offer on the table.
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Re: Yacht Brokerage Law and Ethics

Thank you for the kind hearted and supportive responses. I love you all, what a great bunch of guys you are.
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Re: Yacht Brokerage Law and Ethics

Quote:
Originally Posted by mariopoli View Post
Thank you for the kind hearted and supportive responses. I love you all, what a great bunch of guys you are.
Do I detect a sour note? No wonder the USA is so badly affected by litigiousness. I sure hope I never spill hot coffee on this guy.

(or even sell him a cup that he spills on HIMSELF.)

Mario, as they are fond of saying on SA - HTFU.
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Re: Yacht Brokerage Law and Ethics

The original question:
Quote:
Originally Posted by mariopoli View Post
Has the listing agent done anything unlawful or unethical? If so is this actionable and what action could I take? What would be the legal basis for any claim I would have?
After numerous Sail Netters said "nah, not really" of some version of it:

Quote:
Originally Posted by mariopoli View Post
Thank you for the kind hearted and supportive responses. I love you all, what a great bunch of guys you are.
Sorry, but you asked a question. Don't get in a huff because you didn't like the answers.

BTW, this was a MUCH gentler treatment that you'd have gotten asking this question on some other sailing forums.
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Re: Yacht Brokerage Law and Ethics

So does a seller have the right to decline an offer based on race, religion, or sex? And if he does, can a broker/business also decide how quickly he will present the offer to the seller based on your race, religion, or sex?
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Re: Yacht Brokerage Law and Ethics

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Originally Posted by jkemp101 View Post
So does a seller have the right to decline an offer based on race, religion, or sex? And if he does, can a broker/business also decide how quickly he will present the offer to the seller based on your race, religion, or sex?
Why do you ask? Are you contemplating such a silly thing?

Most folks are interested in only two things when they offer a yacht for sale: Can/will the buyer pay for it as agreed?; and, If I sell my boat to this person, will he/she be able to properly care for and preserve it? (considering that most boat owners anthropomorphize their boats to a "she").

I have declined an offer on a boat because of the latter. It didn't matter a wit what the prospective buyer's race, religion, color, creed or taste in women was-- ah, well, taste in women maybe a bit.
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Re: Yacht Brokerage Law and Ethics

Quote:
Originally Posted by jkemp101 View Post
So does a seller have the right to decline an offer based on race, religion, or sex? And if he does, can a broker/business also decide how quickly he will present the offer to the seller based on your race, religion, or sex?
Oh PLEASE.

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Last edited by SloopJonB; 03-29-2012 at 03:30 PM.
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