Join Date: Feb 2010
Location: Narragansett Bay
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Re: To Broker or Not to Broker
Standard commission, paid by the seller, is 10%. If there are co-brokers (buyer and seller), they usually split it 50/50. So, he's offering you 2% of the 5% it would cost him. Nothing wrong with that, but consider he's not trying to do you a favor.
Unless you pay your broker independently, you must understand they still work for the seller. You'll get paperwork that says as much. However, if you bring your own broker in, they typically want a good reputation with you, as you'll be a reference and presumably buy more boats along the way.
Having that resource is valuable, as others have said, especially when the purchase is large and complex. The ideal buyers broker will be very knowledgeable in the specific brand or model you're looking at. If the manufacturer is still in business, I always suggest connecting with their nearest dealership, who almost always have a "used" guy. They may want to show you what they are listing directly, but if they don't have what you want, they're always willing to tag along on another deal.
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