Join Date: Apr 2010
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Re: Whats the point of boat brokers?
My experience and view is that brokers are generally unhelpful to the potential buyer at the lower end of the market (~ $50k or less). Since a broker gets paid usually no more than 10% commission, a low-end boat simply doesn’t generate much revenue. Most brokers are businesses, so they simply can’t afford to spend much time on a low-end boat.
The end result is a broker with limited knowledge about the boats they are selling, and limited time or interest in trying to get the information a potential buyers needs. My experience as a buyer at this end of the market is that mostly* brokers just got in the way, without providing any benefit to the sale. They got in between me, the potential buyer, and the seller who holds all the information I really need. But most were unwilling to do much to get me the answers I needed.
(*I say mostly b/c I also experienced the exception to this rule. But they were the exception.)
From the seller’s standpoint, they obviously value the services of a broker. Selling, especially at the lower end, requires dealing with a lot of tire kickers, so I can see the benefit of having someone else manage this. And going through a broker is also the only way to get a boat listed on Yachtworld. But I think most sellers are poorly serviced by brokers at this level, for the reasons I already wrote.
Personally, I wish brokers would either not represent these boats unless they can fully commit to providing complete service to the sale — which as I say, most won’t be able to do.
Why go fast, when you can go slow.
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