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Go Back   SailNet Community > General Interest > General Discussion (sailing related) > broker VS. by owner
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Thread: broker VS. by owner Reply to Thread
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Topic Review (Newest First)
08-18-2006 09:38 PM
dorourke Although I am a Junnior member, I have one story about a misrepresanted boat I purchased. I was online looking at sailboats for some time till I saw one that diden't look right. The boat was not selling, so I went to the marina to see why. The boat was advertised as one model and it was in fact another. It never got any interest, so after my recearch I found out it was worth alot more than the asking price so I low balled to the extream and was accepted! The seller had waited for many years till the depreation value and storage were overwhelming and took the first offer that came along. The basis of this story is to make sure the broaker knows your boat as you do and don't misinform of him/her on your vessel and also make sure the broaker is showing it and ask if any potential buyers have taken interest in it. Keep him/her busy, the boat might get lost in all the other sales and the attention might shift in the wrong direction.
08-18-2006 08:15 PM
ebs001 Two advantages of selling a boat through a broker are 1. he has a huge market with the internet the whole world (friends of mine who are brokers get most of their sales through the internet) and 2. people feel more comfortable dealing with a broker. I would also recommend that anyone buying a boat use a broker of their own to assist in buying the boat - just like you would a realestate broker. As some one pointed out in an earlier post what you get in the end will not be much different, so why not go with the advantages.
08-16-2006 07:31 PM
TejasSailer I don't think it has been mentioned, but I think that picking the Broker and Brokerage is just as important as deciding by-owner or not. We ended up buying new for variuos reasons. However, we worked with several brokers and a few Brokerages over two- to three-years in our quest. There are Brokerages and Brokers we would not consider when it comes time to sell. There are two to three brokers, which we'll contact when that time comes.

Occassionally I've seen folks ask for broker recommendations in a particular area. If you decide to sell via a broker, you might want to consider another thread asking for recommendations and follow up with one-one-one correspondance.
08-16-2006 07:55 AM
PBzeer Why do you think so many politicans are lawyers?
08-16-2006 04:53 AM
cardiacpaul
its been a long day...

And I'm quasi-stewed that an Esteemed Barrister, A Juris Doctorate, A Solicitor, An Esquire... An officer of the court, a tort-tooter extrordinaire, a man that made a living pushing papers down our collective file cabinets would suggest such a thing!
aww, hell, who am i kidding.
08-15-2006 10:59 PM
captnnero
read the contract - it ain't the Family Feud survey

Quote:
Originally Posted by cardiacpaul
...
I, and my work, is commissioned by one party, for use by that one party, and that one party only.
From the survey agreement...

...
Paul, I was kinda-sorta-expecting to hear from you on that one.
08-15-2006 10:44 PM
sailingdog Generally, most surveyors will do what Paul has mentioned... sharing the survey is very bad for their business.
08-15-2006 09:42 PM
cardiacpaul "Also, if a prospective buyer asks for a survey offer to split the cost on the first one so that you have a reliable survey to show other potential buyers."
SURF????
I gasp, I am taken aback, I am shocked, I am agape and agog.

I, and my work, is commissioned by one party, for use by that one party, and that one party only.
From the survey agreement...

"the following procedures are used in our surveys for the exclusive use of the person named as "Client" on Page 1 of this agreement. This survey is NOT TRANSFERABLE to any other person, and the information provided herein is for the EXCLUSIVE USE of THIS CLIENT ONLY.

also from the agreement...
This report WILL NOT be made available to ANY OTHER PARTY without the written consent of the Client, and the Surveying firm.

shame on you Surfesq.
08-15-2006 08:33 PM
captnnero
costs, costs, costs

Quote:
Originally Posted by Gene T
There is a boat a boat on the market I would buy tomorrow if it were properly priced, it has been on the market for over 2 years. Your costs, slip rent, insurance, depreciation and maintenance do not stop just because you decide to sell your boat. When this particular boat does sell it will probably go for market value or less, with no recovery for the years it has spent idle. Properly priced boats sell fast. So, if you are really serious about selling your boat then you should go about it aggressively. There is a lot of wisdom in what captnnero said.
Thanks Gene. You make a very good point about costs other than "paper" depreciation. Having a professional broker can sometimes help mitigate those typical boat costs. Some brokerages have established relationships with strategically placed marinas in heavy traffic markets (Annapolis, for example) such that their brokered boats get a much better rate whether in the slip (best for selling) or on the hard (best for cost). Such benefits can extend beyond those rates too, such as when you need a launch or short haul for the survey and sea trial. Try getting a quick lift job when it's peak launch or haulout season as a regular owner. Sometimes it's like, hey, get in line. Then the whole deal goes on hold until you can get your hands on a boat lift.

Another sad aspect about boats for sale is that when they don't sell right away the maintenance tends to get way behind and that of course lowers market value and complicates and reduces the likelyhood of the sale. The hull gets dull looking. Unused running rigging lines get stiff. Deck leaks appear or get worse. The whole vessel gets dirty or musty. Odors appear from head plumbing hoses. I know of a case when the head odor got to the point that one potential buyer wife had to use the stern rail as if seasick if you know what I mean. So much for that showing ! The wasps and bees move in where ever they can outside. I had a personal experience with that once, what a surprise !

I like Gene's use of the phrase "go about it aggressively". Time is of the essence. People often are making two boat payments until the old one sells. A couple of times when transitioning vessels we owned two boats for a while. Our priorities immediately became fixated on the boat for sale, to the point that we would at least rinse the decks when a showing was scheduled soon.
08-15-2006 07:52 PM
Gene T There is a boat a boat on the market I would buy tomorrow if it were properly priced, it has been on the market for over 2 years. Your costs, slip rent, insurance, depreciation and maintenance do not stop just because you decide to sell your boat. When this particular boat does sell it will probably go for market value or less, with no recovery for the years it has spent idle. Properly priced boats sell fast. So, if you are really serious about selling your boat then you should go about it aggressively. There is a lot of wisdom in what captnnero said.
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