Join Date: Apr 2010
Location: Wherever I am
Thanked 199 Times in 186 Posts
Rep Power: 10
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.
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.